[kay]

Thanks Jimmy, From my research they appear to be an issue and hard to address legally.  I think our contract goes back to the time the complex was built and the developer established this contract.  I am not aware of any other industry where you can on-sell a contract???

[kay]

Thx Kaindub,

The new Caretaking Agreement was signed in July 2017 with the appointment being 5 years with a 5 year option. The 5 year option was written into the contract and was applied for and accepted by the Strata Manager in April 2021.  A far as I can ascertain reading the legislation they are allowed to take up the option of a further 5 years which can be approved by the Strata Mgr.

If they wish to transfer to another party ie sell, then this needs approval of the Strata Committee.

Cheers K

[Author]

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