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5 Simple Steps to Switch Owners Corporation-NSW

5 Simple Steps to Switch Owners Corporation-NSW

Are you unhappy with your current Strata Manager? They aren’t meeting your expectations? Your complaints aren’t being heard? No one returns your calls and answers your emails? Your property isn’t being maintained properly.  

There are many reasons why you would switch your strata manager. If you aren’t completely satisfied with your Strata Manager, you should consider switching your Owners Corporation. Changing Owners Corporation Managers is easier than you think.  

At SSKB we are dedicated to supporting Owners to make the best decisions possible and provide a professional management experience so that owning and living in your community is as easy as possible. A property is a huge investment arguably the largest investment you will ever make. Why settle for a bad strata manager! 

It is important to make sure the right Owners Corporation Manager is appointed for each scheme. Many lot owners think changing community managers is difficult when in fact, SSKB can make the process very easy for you. We take care of the changeover process and the handover of the records.    

If you are worried your strata scheme is being managed poorly, below we have provided 5 easy steps to switch Owners Corporation Managers and help keep your investment safe.  

 

1.Check your Current Strata Management Agreement 

You will need to obtain a copy of your strata management contract. Ask your current strata manager for a copy of this agreement if you don’t already have a copy.  Check the exit details outlined in the contract. You must follow the notice period to leave the agreement and any special considerations outlined.  

 

2.Obtain quotes from other Strata Managers 

 

Once you have decided to change strata managers you must obtain several quotes from different strata management companies. It can be easier if all quotes are sent through via email so that the contracts terms can be reviewed. Then compile a comparison lost outlining list of functions and prices that each company provides and compare with your current strata manager. After this complete a process of elimination to decide on a preferred strata manager.  

 

Contact your newly nominated strata manager for a confidential discussion. Advise them you intend to transfer to their management. Your new manager can then assist you with the formalities of exiting the current contract.  

 

3.Provide current strata manager with formal termination notice 

 

You need to ensure you give enough notice to terminate the Contract of Appointment in sufficient time or otherwise your contract of appointment may automatically roll over for the next year for a further month at the expiry date. It’s important you make sure the termination notice falls within the guidelines of your relevant state legislation or act.  

 

4.Ask for required motions to be included in meeting agenda 

 

Owners are then required to submit a motion to be included on the agenda at the next general meeting after the notice to terminate the current managers has been delivered and received. The motion will only be passed if a majority of owners present at the general meeting need to vote in favour and pass the ordinary resolution.

 

5.Advise New Strata Manager of Appointment.  

 

Your Strata Committee will have to provide the new Owners Corporation manager with the information of your existing manager. After this your new strata manager will organise the final handover and transfer of documents. SSKB will arrange a seamless handover of your building from your current manager. 

Remember this process should be in conjunction with the relevant legislation in NSW. 

 

 

We get to know your community using the below process to ensure there is no delay to your Community Management Service. 

 

  • SSKB obtains the records from the previous Manager. 
  • SSKB audits the documents handed over. 
  • Our expert team including our in-house accountants enter the information into our software system. 
  • SSKB  sends out a welcome pack giving all owners the information they need for a smooth transition. 
  • The Community Manager reviews the minutes of the AGM and previous Committee meetings. 
  • SSKB then has to audit the Committee documents and prepare records. 
  • A Committee meeting will be held, and communication protocols will be established. 

 

switching owners corporation
switching owners corporation

 

It is a big decision when choosing your strata manager. If you have thought about changing but are unsure of the process SSKB can help. Click here for an obligation free consultation today. 

 

 

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