This unit of competency specifies the skills and knowledge required to handle strata community funds that are held in trust in compliance with regulatory requirements. It includes interpreting procedures for handling strata community funds held in trust, processing funds held in trust and reporting discrepancies.

This unit is suitable for strata community managers who apply a broad range of skills and knowledge to complete routine and non-routine tasks and deal with predictable and sometimes unpredictable problems. Strata community managers may also be known as strata managers, owners’ corporation managers or body corporate managers depending on the jurisdiction of operation.

Licensing, legislative, regulatory or certification requirements apply to strata community management in some states and territories. For further information, check with the relevant regulatory authority.