How do I change strata management companies?
When it comes to your strata property, a comprehensive and responsive Strata Management is what you would expect. After all, the key to the efficient running of your property depends on this.
Have you ever felt like you’re being ignored by your strata manager or that you are just another number on a list? Have the thoughts “how can I change Strata Management companies?” ever crossed your mind? If so, perhaps it’s time to find a new Strata Management company to manage your property. Changing companies may just be the best decision you make regarding your strata, and it is easier than you think.
Look over the Agency Agreements
Firstly, you should check and assess any Agency Agreements you have with your current strata service provider. By looking over the agreement, you may find useful information such as termination clauses, voiding of the agreement, expectations of both parties and more. The agreement may also bind you to this specific provider for a fixed amount of time. In such, looking over the agreement can help you know exactly what you are bound and not bound by. You don’t want to break any conditions that may void any disputes you can pursue.
Decide on an alternative Strata Manager
After you decide and enact the process of replacing your Strata Manager, you should know which company you want to replace your current management service with. It is rare to find a Strata Management company in Sydney that is a one-stop-shop for all the strata services you may need. Strata & Co., however, specialises in all thing’s strata. We provide the most comprehensive, customisable suites available in all of Sydney.
Whether looking for a company like ours or not, you are going to want to obtain quotes and compare what each company offer. The reason you are looking to change is probably because you weren’t happy, so efficient research and care will help you avoid another bad strata company.
Call an Extraordinary Meeting (EGM)
After you have looked over the Agency Agreements and know where you stand, then you can call an Extraordinary Meeting (EGM) in order for the majority of Owners to agree on appointing a new strata manager. The Executive Committee can call a meeting for all owners to attend and a majority vote can be agreed upon in order to change strata service managers. For this meeting to be valid, a quorum needs to be reached. This is where 25% of owners are either in attendance or proxy vote. The meeting should have enough notice given (7 clear days, including enough time for postal notice) in order for all owners to attend. Minutes should be recorded to keep track of the details, especially who attended and motions discussed. Strata & Co. can hold this meeting for owner for a smooth, seamless process, ensuring legislative compliance at all times.
Draft new Agency Agreements
Once you settle on a company that the owners agrees with, then you can draft new Agency Agreements as necessary and negotiate as needed. It is important to be thorough and detailed. The best thing to do is be open with your new Strata Management company. Meet face to face and discuss potential business in person. If you form a good working relationship, then the strata company can better understand your needs and wants.
Each strata complex is different and there are varying levels of strata that are managed throughout Sydney. Changing strata companies may be different for your complex, so the best thing to do is talk to your strata company directly or perhaps another service provider that can offer tailored advice.
As mentioned, Strata & Co. strata management services for all types of complexes and we only have licensed professionals to assist you with all your needs. To make the switch in strata today, give us a call at 1300 033 947.