Professional strata management can cost $2,000–$10,000 per year for small schemes in Western Australia. For a 6-lot complex, that's $300–$1,600 per owner annually—often more than your scheme actually needs.
If your scheme is small (under 20 lots), relatively harmonious, and doesn't have complex commercial elements, self-management is absolutely viable. Here's how to do it properly.
What the Law Requires
Strata Titles Act 1985 (WA)
The Act governs all strata schemes in Western Australia. Self-managed schemes must comply with the same obligations as professionally managed ones.
Core Legal Obligations
Annual General Meeting (AGM)
- Hold within 15 months of the last AGM
- Provide 14 days' notice to all owners
- Elect a council if 4+ lots
Financial Management
- Maintain an administrative fund
- Maintain a reserve fund (10-year plan)
- Keep proper financial records
Record Keeping
- Strata roll (owner contact details)
- Meeting minutes and resolutions
- Financial statements
Insurance
- Building insurance (mandatory)
- Public liability insurance (recommended)
Step-by-Step: Your First Year Self-Managing
Step 1: Appoint a Council (if 4+ lots)
At your first AGM, elect a council. For schemes under 20 lots, a simple 3-person council works well: Chairperson, Secretary, and Treasurer.
Tip: Rotate roles annually so knowledge doesn't get siloed with one owner.
Step 2: Open a Strata Bank Account
Open a dedicated bank account in the name of your strata company (e.g., "Strata Company 12345"). You'll need two signatories for transactions—typically the Chairperson and Treasurer.
What you'll need: Certificate of Title, strata plan number, council resolution authorizing the account.
Step 3: Set Your Levy Budget
Calculate annual expenses (insurance, maintenance, utilities, admin) and divide by the number of lots (adjusted for lot entitlements). Set levies quarterly or annually.
Don't forget:
- • Administrative fund (day-to-day expenses)
- • Reserve fund (long-term capital works—roofs, painting, etc.)
Step 4: Track Levy Payments
This is where self-management gets tedious with spreadsheets. You need to:
- • Send levy notices to all owners
- • Track who's paid and who hasn't
- • Chase overdue payments (diplomatically)
- • Generate owner statements on request
Reality check: This is the #1 reason schemes hire managers. Automated software makes this dramatically easier.
Step 5: Schedule Your AGM
Give 14 days' written notice. Your agenda must include:
- • Financial statements for the previous year
- • Budget for the coming year
- • Election of council members
- • Any motions from owners
Tip: Keep meetings short. Small schemes don't need hour-long deliberations.
Step 6: Maintain Records
You're legally required to keep records and make them available to owners on request. At minimum:
- • Strata roll (owner details, lot entitlements)
- • Meeting minutes from the past 7 years
- • Financial records
- • Insurance policies
- • Building plans and by-laws
The Reality Check
Self-management works brilliantly for schemes with:
- • Under 20 lots
- • Minimal shared facilities (no pools, lifts, or gyms)
- • Owners who get along reasonably well
- • At least one owner willing to wrangle paperwork
If your scheme is contentious, has complex facilities, or everyone's too busy, a professional manager might be worth the cost.
Tools That Make Self-Management Easier
You don't need enterprise software. Simple tools designed for small operators work best:
Spreadsheets
Good for: Basic levy tracking, budgets
Pain point: Manual emails, no payment reminders, version control chaos
Xero or MYOB
Good for: Proper accounting, financial reports
Pain point: Not purpose-built for strata, still manual owner communication
LevyLite
Built for: Small WA strata schemes (under 50 lots)
Automated levy reminders, owner portal, AGM templates, 10-year reserve planning. Starts free for schemes up to 5 lots.
Learn more about LevyLiteFinal Thoughts
Self-management isn't for everyone, and that's okay. But if your scheme is small, simple, and you're willing to invest a few hours every quarter, you can save thousands annually.
The key is using the right tools to automate tedious work (levy tracking, reminders, owner communication) while keeping the meaningful decisions in your hands.