YOUR STRATA COMPLEX 2

New South Wales

Issues for Committee Members to Consider

Operation of the Committee

Do you know that the strata manager is precluded from being a member of the committee and cannot chair a meeting of the committee or the corporation?
Do you have the contact details for all your fellow committee members?
Do you have access to the corporate register of the corporation for the contact details of all the owners and residents, including the tenants of the strata complex?
Do you know what your obligations as a committee member are?
Do you understand when and how to apply the corporation's common seal?
Do you have access to all the documents necessary to make decisions about the corporation budget for the year?
Strata Management Agreement
Do you have the contact details of your strata manager? Does the strata manager promptly respond to your calls and emails? Can you contact the strata manager after business hours?
Do you have access to a copy of the management agreement between the corporation and the strata manager?after business hours? Do you have access to a copy of the management agreement between the corporation and the strata manager? What services does the agreement provide for the owners corporation? What are the additional charges for services such as attending after business hours meetings of the owners or executive committee? Does the agreement provide for services for any non-common property? Does the strata manager pass on to the owners corporation or keep for themselves any rebates which suppliers or service providers might pay for having business with the corporation?

Owners Corporation Rules
Do you have a copy of the rules of the corporation?
Do you know your obligations regarding compliance with the rules?
Do you understand when and how the committee can issue notices against owners and residents for breaching the rules?
Banking, Administration and Sinking Funds
Do you know with whom the corporation banks its administration, sinking and (if applicable) special purpose funds? Do you know who are the signatories on the accounts?
Do you have access to the bank statements for the administration, sinking and any special purpose funds?
Do you know whether it is the corporation or the strata manager who earns the interest on these funds?
Does the corporation have a sinking fund plan that works for the owners corporation or does it increase levies unnecessarily for owners?
Do you know with whom the corporation has insured the common property?
Do you have access to the insurance policy to know what is covered by the insurance? Is the insurance coverage adequate?
Do you know what insurance covers the executive committee's legal liability?
Does the corporation have adequate workers compensation insurance?
Issues for Owners to Consider
Do you have the contact details of your strata manager? Does the strata manager promptly respond to your calls and emails?Can you contact the strata manager after business hours? Do you have access to the contact details for all your committee members? Do you know what information you must provide to the corporation? Do you have a copy of the corporation's budget for the year? Does it show what your levy is? Did you receive all the documents necessary to make decisions about the corporation budget for the year? Do you have a copy of the by-laws of the corporation? Do you know your obligations regarding compliance with the by-laws? If applicable, have you ensured that your tenants and property manager have a copy of the by-laws and know about their obligations regarding compliance with the by-laws?

YOUR STRATA COMPLEX

New South Wales

GET IN TOUCH