In our video series Michael Vumbaca, General Manager at Jamesons Strata discusses the changes that have been made to the new strata committee.
One of the main changes about the strata committee is that it used to be called the executive committee. In addition to the naming change, there are several key changes relevant to the Strata Committee.
- If your building has more than 100 lots, you now have a requirement to have a minimum of three members on your Strata Committee. If you have less than 100 lots, you still have the requirement for a minimum of one. You must also disclose if you’re a Strata Committee member, as you may have a conflict of interest being a member of the committee and as an individual.
- There are a number of changes to the people who are allowed to be on the Strata Committee. The following people are not allowed to be on the strata committee:
- The building manager
- The leasing agent or a leasing agent who leases in the building
- People connected to the original builder or developer
This change is to avoid there being conflicts of interest when Strata Committees are trying to go about their business of operating the committee on behalf of all of the owners.
- if you are now un financial at the AGM, you will be unable to be voted on to the committee. It’s important that you make sure that your levies are paid up to date before the meeting if you intend to nominate yourself or be nominated for the Strata Committee.
- You may now have a tenant representative who forms part of your Strata Committee. If your building has 50% more tenants, all tenants are allowed to elect a representative who forms part of your committee. They are not a voting member and you can ask them to leave during financial matters or other highly confidential matters. Aside from that, they will be allowed to attend your committee meetings as a representative on behalf of all the tenants.
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.