Although it's highly recommended (especially for schemes with more than 5 lots), it's not compulsory to appoint professional strata managing agents (otherwise known as Strata Managers) to manage your scheme. An alternative to this is you can do it all yourself!
However here's a small, but important, bit of advice - make sure you check out everything you will need to do to fully manage a strata scheme first. You maybe very surprised just how much effort is required.
To find out what must be done to actually manage a strata scheme, go to the Strata Management information page on the Strataman website. It might really help make the decision for you.
If you DO decide to go down this path - and your strata scheme IS brand new - you should get a copy of our DIY Strata Kit. You'll find it an invaluable tool for setting up the accounts and records required to make a go of DIY Strata Management.
IMPORTANT NOTE:
To get the most value from the DIY Strata Kit, the Accounts & Records for the Strata Scheme should NOT have been already setup - otherwise you'll only receive what you probably already have in place
D.I.Y Strata Kit Details
Our DO-IT-YOURSELF Strata Kit is completely self-contained. It comes with detailed instructions for managing your own strata scheme and, for an additional fee, we can provide you with ongoing assistance until you are up and running.
The DIY Strata Kit provides the necessary framework of accounts and records, as required by the NSW Strata Schemes Management Act 1996, for you to run your strata scheme.
The explanatory letter that comes with the kit is usually sufficient for the convening and holding of the relevant meetings without the need of a strata managing agent (strata manager) to personally attend any of those meetings. There's obviously a lot more that goes into the running of a strata scheme but this is a good starting point.
The DIY Strata Kit includes:
- STRATA ROLL (relevant documentation provided for individual owners, common property, insurance and by-laws)
- Suggested drafts of MINUTES of meetings to be held (required by the Strata Schemes Management Act 1996)
- Relevant NOTICES and PROXY FORMS for meetings
- Draft FINANCIAL STATEMENT and BUDGET
- ACCOUNTING Records Package
- MINUTE BOOK
- COMMON SEAL
- Explanatory Letter
DIY Strata Kit Pricing
| For Schemes 5 lots and under: |
One-time cost is $399.00** |
(including GST) |
| For Schemes over 5 lots: |
an additional $5.50 per lot |
(including GST) |
** Suitable for NEW Strata Schemes located in NSW only
** Includes an initial consultancy session to assist you in setting up the records
** Any additional consultancy sessions will involve an extra cost
** Does NOT include any Land Titles Office searching fees
To Order Your
DIY Strata Kit
Enter Your Details Below
Yes, I understand the Strata Records should NOT have been setup
Yes, I understand the Strata Scheme must be in New South Wales
PLEASE NOTE: All fields are REQUIRED
Once your quote has been submitted, you will be contacted regarding the PAYMENT of the DIY Strata Kit.
When payment has been finalised, the kit will be sent to you.
