How to Change Your Strata Managing Agent: A 4-Step Guide
When your strata managing agent isn’t meeting expectations, it can cause frustration, miscommunication, and unnecessary complications for the owners corporation. Whether due to poor service, a lack of transparency, or an unresponsive manager, these issues can disrupt your strata community. Fortunately, changing your strata managing agent in NSW is a straightforward process that can lead to better management, improved communication, and a stronger community.
Why Change Your Strata Manager?
Strata managers play a key role in maintaining a strata community’s operations, finances, and compliance with regulations (among other responsibilities). However, over time, some managers may become less proactive, transparent, or efficient than needed. Common reasons for switching include:
Poor communication: Delayed responses, unclear updates, or difficulty reaching the manager can create confusion and frustration.
Lack of transparency: Failing to share important financial reports, meeting minutes, or operational information undermines trust.
Neglecting maintenance issues: Delays in repairs, ignored maintenance requests, or lack of upkeep can affect property value and safety.
Non-compliance: If your manager lacks knowledge of, or fails to enforce, legislative requirements, it can lead to legal and financial risks.
If these problems arise, finding a new strata management company may provide the proactive approach and high-quality service your community deserves.
4 Steps to Change Your Strata Manager in NSW
1. Review Your Current Contract
The first step is to review the agreement with your current strata managing agent. This will specify the notice period, termination conditions, and any exit fees. Contracts often contain specific clauses outlining how termination should be handled, so make sure you’re familiar with the terms to avoid any unexpected costs or delays.
2. Gather Quotes from New Strata Managers
After deciding to make a change, collect quotes from multiple strata management companies. Focus on more than just the cost, look for companies that demonstrate transparency, prompt customer service, and a strong history of compliance. At Keen Strata, we focus on providing a transparent and professional service to ensure all aspects of your community are managed effectively.
3. Call a General Meeting
Once you’ve decided internally to terminate and appoint a new manager, the next step is to hold a general meeting to officially vote on these changes. The decision to replace the managing agent requires an ordinary resolution from the owners corporation at a general meeting. You can arrange the general meeting without involving the current agent by having the secretary issue the meeting notice. The chairperson will then manage the meeting and collect votes. If no office bearers are available, you can issue a qualified request to the current strata manager to call a meeting, which must be signed by at least 25% of all unit entitlements of the owners corporation. Be sure to include the motions you want on the agenda.
4. Hand Over Books and Records
A seamless transition is crucial for maintaining consistency in management. The outgoing manager is responsible for providing all necessary documents, including financial records, trust account monies, insurance details, and any other relevant materials. The new strata manager should ensure that all information is transferred correctly and address any outstanding issues or gaps during the handover. This process is usually swift and professional, and timely communication can help avoid disruptions.
Why Choose Keen Strata?
At Keen Strata, we go beyond basic management. We understand that strata management involves more than just meeting legal requirements, it’s about building a thriving community. We deliver transparency, responsive communication, and exceptional service. We work closely with owners to ensure everyone feels supported and that issues are promptly addressed.
If you’re thinking about changing your strata manager contact us today for a quote and discover how we can elevate your strata experience.
Dec 8, 2024