We have 3 strata separate title units in our owners corporation. We would like to self manage. What do we need to do? – Richard, NSW
Q: We have 3 strata separate title units in our owners corporation. We would like to self manage. What do we need to do?
A: If you would like to self-manage your owners corporation property, you will need to conduct a vote at a general meeting or hold a postal ballot to remove the current manager. The manager will then have 28 days to return all funds and records to your owners corporation, presuming their contracted term has ended.
From here, you are free to take over the management of your owners corporation.
It is worth noting that although self-management may work in the short-term, many self-managed owners corporations will find it difficult in future. It can be tricky to keep up with legislation changes, as well as keeping the property legally compliant. There may also be issues that arise when it comes to handling large maintenance projects, or resolving any disputes.