Every resident building manager in NSW should have a copy of the booklet issued by the Department of Fair Trading titled “Strata Living”. If you live in a community titles scheme, then you should obtain the booklet titled “Living in a Community Scheme”.


These booklets are readily available at every office of the Department of Fair Trading or you can download a copy from the Department of Fair Trading website. These booklets are a great! The best I have seen produced by a Government Department. They are easy to read and cover many of the day-to-day issues that crop up in Strata or Community living. They are particularly relevant to Resident Unit Managers in your day-to-day dealings with your Strata Manager or your Executive Committee members.

It goes without saying that resident building managers need to constantly review their duties and obligations under Caretaking Agreements. Now, more than ever, Executive Committee members are reviewing these documents to ensure that they are getting full value for money. Also, you must always ensure that any charges you make to your letting owners are 100% compliant with the schedule of charges in your Letting Appointments.

You also need to have a good knowledge of the by-laws that apply to your complex. Whilst it is important to understand basic strata law, it is equally important for good governance that your owners and tenants are aware of the particular by-laws in place for your building. When an owner buys into a building, they often do not receive a copy of the by-laws, unless they specifically ask their solicitor to forward them a copy. As you will be aware, the current law requires a landlord to give a tenant a copy of the by-laws within seven days. Some schemes pin a copy of the by-laws to their noticeboard, but these by-laws are often out of date and are rarely noticed by incoming owners and tenants.

Why not make it part of your business to provide every new owner or tenant an up to-date copy of the by-laws, as part of a welcome pack handed out to all incoming residents? There has even been some talk of making this suggestion law in the future.

Many buildings still have their original by-laws. These by laws may have been chosen by the developer and may not reflect the views of the current owners. Resident building managers should bring to the attention of the Executive Committees any by-laws that are confusing, or simply don’t work. It is all part of how you are perceived to “value add” for the benefit of your owners.

Perhaps the NSW government should reduce the registration fee of $100.00 which currently applies every time there is a change to the by-laws? This may encourage Strata Schemes to constantly review and update their by-laws, so that they keep relevant with today’s issues.

 

THE MBA PARTNERSHIP ACCOUNTANTS

Management Rights Accountant

PAUL GAFFNEY | MANAGEMENT RIGHTS

The MBA Partnership is one of the most experienced firms of management rights accountants in Australia. Many of their clients are new to the management rights industry, and with over 30 years experience in management rights they have the expertise to help you set up correctly from the beginning. From due diligence, accounting, taxation and auditing Paul and his team can guide you through the entire process.

Phone: +61 7 5557 8700

LEVEL 3 "PIVOTAL POINT"' 50 MARINE PARADE SOUTHPORT QLD  4215

pgaffney@mbapartnership.com.au | managementrightsaustralia.net 


 

Management Rights & Motel Finance P/L

Mark Ryall

 Mark Ryall | MANAGEMENT RIGHTS

Management Rights and Motel Finance Pty Ltd is an industry leader in providing specialist finance needs to companies and individuals embarking on the purchase of a Management Rights business. Mark and his team is dedicated to helping you with all your management rights and motel finance needs! We work around the clock to make sure you receive the best deals.

Suite 4, Level 2 / 247 Bayview St Hollywell QLD 4216

Phone: 07 55641100 | 0419 640 215
Fax:     07 30140108

mark@mrmfinance.com.au | www.mrmfinance.com.au

Australian Credit Licence No: 378366


 

Management Rights Articles

  • ANNOYING STRATA ISSUES

    I have had a couple of Building Managers ask me recently about what is the current law in NSW relating to smoking on balconies and goods that have been abandoned on common property.

SMALL MYERS HUGHES LAWYERS

COL MYERS | MANAGEMENT RIGHTS

SMH Lawyers handles all aspects of a Management Rights transaction from establishing, purchasing and selling Management Rights to advising bodies corporate on strata related issues and disputes. Col Myers and his team of experts is constantly exposed to all aspects of the management rights industry which means they can proactively advise when and how to best handle management rights to work effectively for individual scenarios.

Phone: +61 7 5552 6604 | Mobile: +61 417 620 516

Level 2, 17 Welch St Southport Qld, 4215

info@smh.net.au | www.smh.net.au  


 

Management Rights Brokers

 

 

 

 

 

Narelle Filmer | Linda & Wayne Stoll

Think Management Rights’ is a division of the nationally recognised First National Real Estate franchise. This team of specialist brokers operate throughout the state of Queensland. With over 15 years as owners, managers and sales agents in Management Rights industry, this team has a great deal of knowledge and experience to bring to the MRA seminars.

Wayne and Linda Stoll | Listings: Sunshine Coast / Gold Coast Region
Phone: 0452 181 505
wayne@thinkmanagementrights.com.au | linda@thinkmanagementrights.com.au 

Narelle Filmer | Listings: Gold Coast / Brisbane Region
Phone: 0459 229 744
Email: narelle@thinkmanagementrihgts.com.au  

www.thinkmanagementrights.com.au 


 

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