Do we need a Strata Manager?

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. 

Hi,

I am new to this forum and was going to post something about self managed community title corporations.  I have been living in my property, owner occupier, for over 12 months and the members have majority voted to be self managed of an 8 lot development.

However this experience is not a happy one. The person who put themselves up as the Chair really has no idea about good governance and enforcing by laws.  In the short 12 months we have all lived here one of the residents has ruined part of the common driveway and their driveway by parking an old bomb on common property that has dropped a considerable amount of oil and rust on the concrete.  The chair refuses to write to this lot holder from the corporation to enforce the by law about not damaging the common property and looking after the lots and advising that they have to clean it up.  Additionally all the landscaping that was in place, with the exception of 3 lots has been left to die, leaving dirt and weeds.  We have also got a stormwater overflow pump that the corporation must look after but already we have had to engage (at cost) technicians to fix the pump due to 1) lack of pro active maintenance in clearing leaves that fall into the drain and 2) lack of knowledge about how it works.  Also the developer should have installed a light warning system for when the pump failed, but didn’t.  However, this apathetic lot don’t want to chase him for it despite it being part of the development approval.  They do not see the need to get a sinking fund going and the minutes from the couple of meetings look like they have been written by a child (e.g. ‘everyone said hello, we asked if there was anything anyone wanted to discuss and as there wasn’t we got down to business’.  Oh but there was actually no business discussed.  The items I raised were not put on the agenda and when I tried to raise them, everyone just had side conversations and the chair wrapped up the meeting!! 

There’s other issues like parking/blocking easy access and egress and speeding. I have been told that this group want to keep it casual and friendly and will not be doing anything ‘formal’.  Believe me I have written a very logical/issues based document that links to relevant legislation and by laws, I have tried persuading that if lots are allowed to degrade and governance not administered property, that our investment values are at risk.  But to no avail.  Out of interest I got an agent along to value my property and she said that due to the degraded appearance, she would value it a few thousand less than if it looked cared for.  Also the chair does not actually live there and rents the property to a family member.  There is another one that is rented, also within the family.  So there isn’t even a profesional real estate agent managing the rental properties. 

I am considering heading down the legal path.  I continue to build the case. Any advice would be welcome.  Tearing my hair out. 

@mypersonalpa said:

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  

mypersonalpa, as for what the bank needs I can’t help you.  What they need now is a lot different the rules are a lot tighter.  However I am sure if this bank doesn’t help another might.  The banks are, to a degree, protecting themselves. 

You don’t need separate Accounts for Sinking and Admin.  So separate book keeping is fine.  What the law requires is that the Sinking and Admin monies be “Accounted for separately”.  We have one account with $11,000 we know by keeping track of levys and payments that $6,000 is Sinking fund and $5,000 is Admin.