Strætó is owned by the municipalities in the capital area, Reykjavík, Kópavogur, Hafnarfjörður, Garðabær, Mosfellsbær and Seltjarnarnes.
The board of Strætó consists of one representative and one alternate from each member municipality. The representative shall be the main member of the local government or the executive director of the municipality in question. The same conditions apply to deputies nominated by each local government.
The board divides tasks among itself and the chairmanship shall be divided between the member municipalities. The term of the Strætó Board is 2 years.