#26684
Cosmo
Flatchatter

    Hi Victor, our small strata has self managed for a while now.  The difference between self managing and a manager is all administrative.  

    My tips:

    Make your bank accounts fully accessible on line.  Ours is set up so all owners can see the accounts and transfer money in but to pay out a ‘two person’ authorization is necessary. We have one owner who doesn’t have a computer but the necessary adjustments can easily be made.

    Get all owner’s email addresses.  All notifications and information can be done this way.  Email is especially handy to notify of levys due and overdue.  

    It is probably necessary to have a bit of spreadsheet expertise for the 10 year plan that is required.  A plan has to be done every 5 years.

    Use google as I have found a lot of great authorities discussing how to do things.

     

    It is gratifying to see money that would otherwise go to paperwork go into repairs and infrastructure.