Is strata management captured under Tranche 2?
No, strata management is not a designated service because no real estate sale, purchase or transfer occurs.
No. Strata management - collecting levies, managing common property, coordinating repairs, holding administrative meetings, maintaining the body corporate's records - is not a designated service under Tables 5 or 6 of the AML/CTF Act. Strata managers are not providing real estate sales, purchase or transfer services; they're administering an existing ownership structure.
A few edge cases worth knowing:
- Lot owner identity verification. Strata managers aren't required to perform AML/CTF KYC. Some choose to verify owners for fraud-prevention reasons, but that's commercial choice, not regulation.
- Mixed-practice firms. A real estate agency that also runs a strata arm is captured for its sales work (Table 5, item 1) and needs an AML Program for that side - the strata arm doesn't add to the obligation.
See AUSTRAC's Real estate designated services page.