I am in favour of self management for a strata plan such as ours – a house which is divided into two apartments with equal shares. After several recent unhappy experiences with our strata manager, we are going to self manage. We went to the bank yesterday to open our account, and the teller was unable to open it, and wasn’t sure what documentation was needed.
We gave her the Strata Plan Number and Address; the ABN and our Strata Roll. She is going to find out next week what else is needed, but in the meantime, trusting the Flat Chat Forum – could you please help with this? What else does the bank need? And, as a two lot plan, do we need separate accounts for Sinking and Admin, or one account but separate book-keeping?
thanks in advance,
Leanne