We have a more pleasant experience while changing Strata Manager. Current & prospective SMs acted professionally barring a few minor hitches that were a carry-over of old practices.
I appeal to the Owners Corporation, NSW Fair Trading and Strata Community of Australia to prepare a CHANGE-OVER protocol acceptable to SCA to avoid the transition pain.Following suggestions may be considered :
Documents ( hard & soft copy in a USB with password to access ) to be handed over to be listed , period for which they must relate to, ALL PLAN documents of birth, revisions up to date.
Latest financial statements of Strata Plan including outstanding creditors,debtors,levies in arrears, levies paid in advance, any special funds held for a specific purpose. If Strata Plan has funds invested in Fixed Deposits, they may be transferred on maturity to new SM if acceptable to Owners Corporation.
Trust Account bank account balance to be transferred through digital means AFTER new SM gives proof of Trust Account opened with an approved bank showing Strata Plan Number besides BSB & Account Numbers to current SM for electronic transfer. Now SMs transfer amounts through cheque which is susceptible to fraud ( cheque payable to XYZ can ostensibly be endorsed by XYZ to ABC and deposited in ABC’s account and the paying bank has no means of verifying the authenticity of the endorsement by XYZ and pays as a matter of course to ABC through ABC’s bankers ) besides delays,handling,depositing and funds clearance.
All contract documents relating to ALL current service providers.
At the moment there is no standard practice on transfer barring a bland statement about cooperation between SMs for transfer.