Sorry to echo the above two, but you are indeed bound by the contract. I hope for your sake it isn’t a Strata Community Association contract. They are very much in favour of the managing agent,
In one scheme I am involved in, the owners at a meeting a year ago, led by a useless but know all committee, decided to get a new strata manager and delegated nearly every function to him. That is ALL the owners decided to do that; all but me. I actually read the one sided contract and was horrified. That committee, of which I was not a member as well as other owners thought they were really smart and did not even bother to answer questions from owners about the delegations proposed at the general meeting.
Now, a year into the contract, a committee member wants to change some delegations. I too am on the new committee.
I asked he committee member why he wants to change the delegated functions given to the strata manager? After all he voted and promoted to others the “wisdom” of giving nearly all the functions to the SM! I asked him , “who in his right mind signs a contract without reading it”? It’s been 2 monthzs and I’m still waiting for a reply.
I told him about negotiating with the strata manager for any changes he wants. He is now considering just what functions of the strata manager he wants to change.
Anyway, I am not a lawyer but work in finance and the little I know of contract law was confirmed by Fair Trading. A contract e.g. strata management agreement, even if it’s very one sided, cannot be varied without the consent of both parties. “Consent” may mean the OC handing over cash to the strata manager in order to void a clause or two. A clause or two that was earlier agreed upon on by the OC.