In our video series Michael Vumbaca, General Manager at Jamesons Strata discusses how the role of tenants has evolved.
The new legislation has been designed to be facilitate a collaborative environment. That includes all stakeholders including tenants. While some owners may not be too pleased with this change, there are certainly more benefits for tenants in strata with the new legislation.
For instance, in a building, if there are more than 50% of tenants they will be invited to have a tenant meeting annually. At that meeting, tenants will select a representative who will sit on the strata committee and be able to have input into what’s happening at the building on behalf of all the tenants. The tenant meeting will usually be chaired by your strata manager who will send out an agenda prior to the annual general meeting. This agenda will be sent to all the tenants inviting them to attend the meeting and elect a representative. Tenants will also be invited to the annual general meeting where they won’t be entitled to speak, but they can listen to the future plans for the building. In saying that, for any sensitive matters, owners corporations can ask tenants to leave at any time throughout the meeting.
You should also note, if you are a tenant, you can soon expect to receive a copy of the AGM notice for your building in the mail. It is there for you to know what is happening in your building.
While it’s a little too early to say if this is going to be a good thing or a bad thing for the industry, the team at Jamesons believe the more you can collaborate with key stakeholders in your industry, the better the industry as a whole will be. We invite all people in the industry, tenants and owners, to work together to make our strata’s a better place.
Jamesons are a family run business that have provided Sydney residents with strata management services for over 50 years. If you would like more information regarding strata management, please contact Jamesons Strata Management on (02) 8969 3400.