#76505
tina
Flatchatter

    Excellent.  Seven days is much better than three months!

    ALTERNATIVE METHOD FOR PAYMENT OF LEVIES:  When we became self managed, we passed a motion to open a bank account with Commonwealth Bank.  We also had a motion to indicate who was the secretary, chairman and treasurer.  Commonwealth Bank has a process in place to open bank accounts for self managed strata.  Our Comm Bank staffer was reading from a list of instructions on his computer.  Other banks did not know where to start.

    We had to show the bank the minutes of the meeting where the motions were passed.  They asked us to get every owner in attendance to sign the minutes.  The bank asked to see our memorandum of articles.  I said we did not have any.  They asked about “rules”.  I showed them our registered by-laws.  The bank account was named after the strata plan.

    We were lucky to have a bank manager, who was serving on the strata committee of a self managed strata.  He told us we would save a lot of money by going self managed.