Is the Strata Managers advice correct? Should I be reading some other document?
No, the strata manager is wrong. The most puzzling thing about this is why they would give you such erroneous information. You need to have a 10-year capital works plan which must be updated every five years. here’s the law: Strata Schemes Management Act 2015 No 50 – NSW Legislation
If the Strata Managers advice is incorrect this means our Owners Corporation (of which I am now a member) is in breach of the Act by not having a current 10 year Capital Works Plan.
Yes, you are in breach but there are no stratakops so no one is going to jail. By the way, you are automatically a member of the owners corp when you buy a strata unit. Maybe you mean that you are now on the strata committee.
What are the ramifications of this for the OC and its committee?
1. If an owner decides that your building is being badly run and applies for the appointment of a compulsory strata manager, this could be used as evidence of dysfunction and mismanagement (but it wouldn’t fly on its own – there would have to be other defaults).
2. You don’t have a capital works plan. How do you know how much money to set aside for future repairs and maintenance?
3. You have a strata manager who doesn’t know what they are doing. This is probably the most serious concern. What other bad advice are they giving? What else are they doing wrong? You need to get shot of them pronto.
The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.
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