In case you haven’t heard the news, there is a major shortage of licensed strata managers in Vancouver and all across BC at the moment. As of 2017, there were only 1300 licensed strata managers in BC, but 31,000 strata buildings, and just over 600,000 units. That means that each licensed Strata Manager in BC is managing, on average, 23 buildings, with an average building size of just over 20 units.
In case you were wondering why it takes time for your strata manager to return your emails, or to take care of what should be a basic task, there’s your answer. 23 buildings is simply unmanageable, even for someone incredibly organized!
Depending on the size of the building, most strata managers should be managing no more than 10 properties, but can easily have portfolios of 15-20 strata buildings.
What’s the solution to the industry shortage of strata managers? Strata Corporations are going to have to pay more, plain and simple. In order to attract, educate, and retain better talent to the industry, salaries and wages are going to have to increase, and that means an increase to your strata fees at the end of the day. If not, the same pattern of high strata manager turnover and lack of talent will keep repeating itself into perpetuity.
Looking for some Strata Management advice? Reach out to our Property Management Company here.
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