^ Yeah, our strata levied fines pretty strictly for parties. Problems are pretty rare for a building downtown that has a lot of young people in it. However, the police can also be called if it comes to that. Stratas can unilaterally evict problem tenants, though I imagine that takes relatively long paper trail of abuses. I don't think stratas can place actual liens on properties for fines (though they can for assessments), but they can refuse to sign transfer documents until outstanding fines are paid, so its kind of the same thing. A lien is more powerful because you can foreclose on a lien, whereas you can't foreclose on someone who doesn't pay their fines.
WRT partying, I think a broken windows approach is the best; crack down early and often and tenants (and their landlords) get the idea.