Topic: Self managed strata – 5 lots and now 1 lot sold – AGM required? – FLAT CHAT

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15/03/2017 at 5:35 pm #10978 Reply | Quote
awong
Flatchatter
Hi all, I purchased a townhouse which is 1 lot of 5 other lots. The remaining four townhouses are owned by 1 person. The strata scheme is self-managed by the owner of the other 4 lots.

The other owner did not previously hold any AGMs (for obvious reasons), and the financials were prepared by his accountant. I have owned the property for about 12 months, and since the purchase, there have been no ‘formal’ meetings or minutes between myself and the other owner.

Any changes to the property, or ongoing costs related to maintenance, have been sent to me by email (and agreed to by email) and/or verbally agreed to between myself and the other owner.

Since there are now two owners, are AGMs and ‘more formal’ procedures now required to be adopted under legislation?
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Reply To: Reply #26582 in Self managed strata – 5 lots and now 1 lot sold – AGM required?

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