Topic: ” what is an acceptable level of conflict of interest ? – FLAT CHAT

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16/06/2018 at 12:42 pm #11710 Reply | Quote
Bunyip1
Flatchatter
Hi All,

My partner and I own in a block of 16 in Sydney. However, I am concerned about our strata managing agent and a level of ” conflict of Interest “. The principal of the firm owns 3 lots ( strata offices ) in our building and there is a insurance broker who owns 2 ( offices ). They have a company together and also insures the building. Now, the person that chairs our strata meeting works for the said agent. It feels like it’s hard to speak up and many times I’ve felt bullied trying to get my points across at meetings. Once, when discussing a questionable remedial building item which I thought not necessary, his reply was ” I’m not going to argue over $8k! You can imagine my shock with that but the chairperson ( employee of said owner ) chimed in with ” it’ll be good for the building!. I feel that the principal sometimes crosses over to a strata management persona rather than EC member and owner.

How SSMA2015 allows this but if you are the real estate agent managing a lot in the scheme you cannot be strata manager? Not saying there is anything fishy happening but surely this creates an environment for possible abuse intentional or not!
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Reply To: Reply #29770 in ” what is an acceptable level of conflict of interest ?

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