Easy 5 steps to change your strata management company
If you’re unsatisfied with the advice and service your strata management company is providing, chances are it’s time to make a switch.
Making the switch from one management provider to another does not have to be an arduous task – with careful consideration, plus due diligence throughout each step of the process, an owners corporation can easily find a suitable new manager who will provide better advice and service than before.
Step 1
Assess your current situation
Before considering a change in strata management companies, the first step is to assess your existing situation. Get out the contract you have with them, review the quality of service they provide and determine if it satisfies your needs. Most strata contracts will define when and how termination can be processed.
Step 2
Research different companies
Once you’ve decided that you would like to change strata management companies, the next step is to research different companies. You will want to consider several factors, such as cost, services offered, and reputation. You may also want to ask for recommendations from friends or family who have experience with strata management companies.
Step 3
Hold a meeting
If you wish to terminate your existing strata manager and appoint a new one, then the necessary motion must be passed at an Annual General Meeting (AGM) or by proxy. This is generally done in person or through written voting, as it usually occurs when the current contract expires.
Step 4
Appoint a new strata company
If you wish to terminate your existing strata manager and appoint a new one, then the necessary motion must be passed at an Annual General Meeting (AGM) or by proxy. This is generally done in person or through written voting, as it usually occurs when the current contract expires.
Step 5
Transition to your new strata management company
Once your current strata manager is notified of the transition, they will begin the process of handing over important documents and information such as the strata roll, financial records and more to your new management company.
While changing to a new strata management company may seem intimidating, the benefits it will bring to your owners corporation make all the effort worthwhile.