All Topics / General Property / No strata manager

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  • Profile photo of Buying_FreedomBuying_Freedom
    Participant
    @buying_freedom
    Join Date: 2008
    Post Count: 16
    May 2, 2008 - 2:24 am

    Hi all,

    I have just bought a strata titled unit and I am currently in cooling off. I have just discovered that the corporation is run by the owner of one of the units. The owners have not had a meeting for about 7 years and no statement of accounts is ever given to the other owners. It all seems to be run based on trust. The owners are still billed every quarter for their strata contribution. I was just wondering, has anyone got a strata titled unit in a group that is not run by a strata manager? How have your experiences been? Is this how they are normally run when there is no strata manager?  Is there any way to get a group to run more professionally? The property is located in South Australia.

    Thanks in advance,

    TJ

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    May 4, 2008 - 3:30 am

    A few questions: How many units in the block ie it is common that very small blocks may not appoint a strata manager but generally as a block becomes larger then it is pertinent to have the strata professionally managed ie all compliance issues are covered – building/public liability/office holder insurances, maintenance issues, sinking and admin funds established, annual budgets set, accounts audited (not necessarily annually but occasionally) etc.

    If you have specific queries, contact your department of fair trading/v cat/consumer claims tribunal etc or speak with your solicitor.

    I would be very sceptical of any strata scheme run without a manager in place or not having had meetings/budgets etc set. How do you know your outgoings, is there any maintenance done, what about if the building is wrecked by a storm etc? Do you know that the person running the show is dilligent or just a dill?

    Profile photo of Buying_FreedomBuying_Freedom
    Participant
    @buying_freedom
    Join Date: 2008
    Post Count: 16
    May 4, 2008 - 9:53 am

    It's in a group of 4 so I guess being in such a small group it is possible to have no strata manager. My concerns are with how it's run. I am also very sceptical about how it will all work without having any meetings. I agree, there won't be any way of knowing the outgoings and what's been going on with the group.

    Thanks for the advice. I will look at speaking to the contacts you've suggested.

Viewing 3 posts - 1 through 3 (of 3 total)

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