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​Can our Owners Corporation break the contract we have with our current manager?​

This very much depends on the owners corporation manager. Some strata managers will expect to be paid out the fees they would have earned had the contract run it's full term. Others strata managers take the view that they will negotiate to end their contract early. The best advice is to contact your current body corporate manager and request, in writing, the total cost that the owners corporation will incur if the  owners corporation managers contract is terminated early.

 

​​Do all the members of our Owners Corporation have to agree to change or appoint a Manager?​

Whilst all members of your owners corporation should be involved in the appointment of a manager it only requires an ordinary resolution (ie. 50% of more of lot owners) to agree to the appointment of an owners corporation manager. 

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Does our Owners Corporation have to elect a Committee?

If your Owners Corporation has 13 lots or more it is mandatory that a committee be elected. A body corporate committee can have between 3 and 12 members. If there are less than 13 lots in your owners corporation it is at the members option whether or not to elect an owners corporation committee.​

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What happens if our Owners Corporation runs out of funds?

If your Budget has been prepared accurately and a provision has been made for unexpected expenses the owners corporation should have sufficient funds. However, if more funds are required the body corporate members will need to authorise the owners corporation manager to raise a Special Levy.​

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What happens if a member does not pay their levies or other contributions?

There are processes set down as to how this is to be handled and largely depends on previous decisions made by the members of your owners corporation at your Annual General Meeting. Non financial members of a body corporate are not allowed to vote on ordinary resolutions at meetings nor participate in owners corporation committee meetings.​

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       How do we know if our insurance cover is adequate?

The body corporate members can instruct the owners corporation manager to arrange an insurance valuation which will indicate the level of cover needed to insure the property. As from December 1st, 2021 all owners corporations that have three lots or more are required to undertake a valuation every 5 years 5 years.