Thanks for the advice so far.
So we have finally decided to leave our Strata Management and self manage. We have received a folders with all tax, bank, bill records.
I now have further questions:
1. In the folders we received a cheque for the amount that was in our bank account. The other owner now wants to cash in the cheque and split the money (in our correct percentages) for each owner to keep. Would it be better to put that money in an account in both our names for future reference/sinking fund? I am having difficulty convincing the other owner that we need to have a sinking fund.
2. We also received the deeds to our properties. Is it best that each owner keeps their own/that they stay together in a bank safe deposit box/separate safe deposit boxes?
3. Reading over other threads in this topic, we too have got ourselves in for more than we thought. The other owner is very casual about the whole set up and doesn’t even see the need to have an AGM. I’m a little worried that when I want to sell my property a few years down the track, I’m going to have difficulties because there is no strata paper trail. Am I right in my thinking this?
Again, advice is appreciated. Thanks.
