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Topic
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Hi Everyone,
We are in the midst of changing Strata Management (SM) companies.
Our current SM is suddenly pulling out invoices and charges going back beyond the current financial year – some to the inception of the strata plan.
Many of these invoices are not dated or, in some instances, have insufficient detail to validate the charges – just simply a few words on the SM’s letterhead.
My question is … how long is too long for an endless host of invoices to be produced and still expect to be paid?
Bearing in mind that, with the exception of last year, the SM had been pulling together our accounts and tabling proposed budgets at each AGM. So one would expect they were across outstanding invoices/costs before closing out each financial year.
Welcome any advice or shared experiences
Many thanks
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Replies
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Sounds fishy, possibly fraudulent. Who are these invoices payable to? If they’re to the strata manager, even more suss. Whilst anyone can claim accounts rendered up to six years ago, it doesn’t make any financial sense to let these matters go for months or years. The manager needs to account to the plan by providing basic records. Have you had your plan audited by an independent auditor? If so why didn’t they pick up on the uncharged amounts, worth asking them.
If the invoices are for strata services they need to be verified against the charges scheduled in the Management Agreement.