Managing Your Strata

Appointment and Authority

A strata managing agent is appointed by resolution of the Owners Corporation at a general meeting and must be engaged under a written agency agreement. The agreement defines:

• The scope of functions delegated to the agent
• The term of appointment
• The agent’s remuneration
• Any limitations or exclusions on authority

Only those functions expressly delegated may be exercised by the agent. Ultimate responsibility for the scheme remains with the Owners Corporation.

Administrative and Governance Responsibilities

A core responsibility of the strata managing agent is to support the governance and administration of the scheme. This typically includes:

• Convening and coordinating Annual General Meetings, Extraordinary General Meetings, and strata committee meetings
• Preparing and issuing meeting notices, agendas, and minutes in accordance with statutory timeframes
• Maintaining statutory records, including the strata roll, minutes, correspondence, and registers
• Providing procedural guidance to the strata committee and office bearers

These functions help ensure transparency, accountability, and lawful decision-making within the scheme.

Financial Management

Where delegated, a strata managing agent is responsible for overseeing the financial administration of the scheme on behalf of the Owners Corporation. This commonly includes:

• Preparing annual budgets and levy contribution schedules
• Issuing levy notices and managing levy collections
• Administering the administrative fund and capital works fund
• Paying invoices and contractors as authorised
• Preparing financial statements and reports for owners and committee review

All financial functions must be carried out with appropriate controls, transparency, and in accordance with legislative and contractual requirements.

Maintenance and Repair Coordination

A strata managing agent assists the Owners Corporation in meeting its statutory obligation to properly maintain and repair common property. This typically involves:

• Arranging routine maintenance and urgent repairs
• Coordinating contractors and service providers
• Obtaining quotations and facilitating approvals
• Monitoring works to completion

The agent does not replace the Owners Corporation’s responsibility but acts as its representative in coordinating maintenance activities.

Insurance Administration

Strata managing agents commonly assist with the administration of strata insurance by:

• Arranging insurance quotations and renewals
• Ensuring mandatory insurance requirements are met
• Coordinating insurance valuations
• Managing insurance claims on behalf of the Owners Corporation

Insurance decisions remain subject to approval by the Owners Corporation or strata committee, as applicable.

Legislative and Regulatory Compliance

A key responsibility of the strata managing agent is to provide guidance and administrative support to ensure the scheme complies with applicable legislation, including:

• The Strata Schemes Management Act 2015 (NSW)
• Workplace health and safety obligations
• Fire safety and compliance requirements
• Record-keeping and disclosure obligations

The agent must exercise due care and diligence and act in the best interests of the Owners Corporation when carrying out delegated functions.

Advisory and Professional Support

In addition to administrative functions, a strata managing agent provides professional advice to assist owners and committees in making informed decisions. This may include:

• Guidance on by-laws and dispute resolution processes
• Advice on governance and best-practice procedures
• Support during complex or sensitive matters affecting the scheme

A strata managing agent does not replace legal or technical consultants but coordinates and facilitates access to appropriate expertise where required.

Accountability and Conduct

Strata managing agents are licensed under the Property and Stock Agents Act 2002 (NSW) and are required to act honestly, fairly, and professionally. They are accountable to the Owners Corporation and must act within the limits of their delegated authority and agency agreement.

Our Role

Bay Strata plays a critical role in supporting the governance, compliance, financial management, and day-to-day operation of a strata scheme. By providing professional expertise and administrative support, the agent assists the Owners Corporation to meet its legal obligations, protect common property, and promote the smooth operation of the scheme.