Switch Your Melbourne Strata Manager to BFG
Deciding to switch strata managers might sound complicated, but in actuality, it’s not. In Victoria, it can be as simple as passing an ordinary resolution. No drawn-out process required.
Here at BFG Asset Management, we handle the entire transition for you, making the move to better strata management seamless, compliant and stress-free.
How to Change Your Strata Manager in Victoria
Passing an Ordinary Resolution
Under the Owners Corporation Act 2006 (s119), removing or appointing a strata manager in Victoria simply requires an ordinary resolution. The committee can act if delegated authority under s11(5).
The ordinary resolution can be passed at a committee meeting, through a committee ballot, general meeting, or AGM. You do not need to wait for an AGM to remove or appoint a strata manager.
Reviewing Your Current Contract
Before passing an ordinary resolution, we recommend reviewing your current contract. Check details like:
- The notice period when removing/changing strata managers (commonly one month)
- Contract end date
- Termination terms
Under s119 (1D) of the Owners Corporations Act 2006, there is a three-year cap on manager contracts. Auto-renewal at the manager’s discretion is prohibited under the Act (s119A(1)(b)), but we still recommend giving the proper written notice of termination.
Choosing a New Strata Manager
When changing to a new strata manager, there are a range of factors to compare, including:
- The services they provide
- The contract terms (lock-in periods, notice periods, etc.)
- Their reviews
- Fees
- Portfolio size
- Communication frequency and style
Here at BFG Asset Group, we believe that choosing the right strata manager comes from personalised, tailored services. Whether you’re a boutique or large owners’ corporation, our team of expert strata managers can take over your strata management, giving you the peace of mind you deserve.
What to Be Aware of Before You Switch
01 Notice Periods and Termination
Most strata manager agreements require written notice if you are looking to terminate. This is typically one month. Missing the notice window can lead to you needing to negotiate a new exit timeline, delaying the switch to a new strata manager. To ensure the process runs smoothly, check your specific contract terms before passing a resolution.
02 Early Termination Costs
Your current strata manager contract may include early termination provisions or even fees. If you are looking to make the switch mid-contract, review your agreement to see if there are any costs tied to ending before the contract’s term expires. Aligning the switch to a new strata manager with the end of your contract with your current manager helps avoid any additional costs that may be incurred.
03 Record Handover Obligations
Under s127 of the Owners Corporation Act, your outgoing strata manager must return all OC records within 28 days of termination. These documents include:
- Financial statements
- Trust account balances
- Insurance policies
- Meeting minutes
VCAT is empowered to intervene if your outgoing strata manager withholds records for any reason.
How BFG Manages the Switch
01 Full Handover Coordination
If you are making the switch to BFG, then we handle the full handover from the outgoing manager, so your committee doesn’t need to change a thing. We’ll ensure we get all financial records, trust accounts, insurance, owner data, contractor agreements, and meeting minutes, making the handover as smooth as possible.
02 Contractor and Owner Notifications
As part of switching to BFG, we also handle all contractor and owner notifications. We’ll let all contractors, service providers, and lot owners know about the management change, ensuring there are no service gaps or confusion during transition.
03 Flexible Terms, No Lock-Ins
We offer fair notice periods and no long-term lock-in contracts, so you can confidently make the switch. We believe in retaining clients through the quality of our service, not restrictive agreements. If you’re looking to learn more about the benefits of professional strata management, then get in touch today!
Why Choose BFG for Melbourne Strata Management?
Expertise and Experience
With years of experience in owners corporation management, our team possesses the necessary knowledge and expertise to handle various challenges effectively. We stay up-to-date with industry trends and regulations, ensuring that your owners corporation operates in compliance with all relevant laws.
Tailored Solutions
We recognise that each owners corporation has unique requirements. Our services are customisable to meet your specific needs, whether you manage a residential, commercial, or mixed-use property. We work closely with you to understand your goals and provide personalised solutions.
Transparent Communication
Effective communication is key to a successful partnership. We maintain open lines of communication with committee members, property owners, and stakeholders, ensuring that everyone is well-informed and engaged. Our team is responsive and accessible, addressing any concerns or queries promptly.
Efficiency and Cost-Effectiveness
We strive to streamline operations and identify cost-saving opportunities for your owners corporation. By leveraging our network of trusted service providers and optimising processes, we help you achieve greater efficiency while maximising the value of your budget.
Commitment to Excellence
At BFG Strata Management we are dedicated to delivering exceptional service. We prioritise professionalism, integrity, and attention to detail in all aspects of our work. Your satisfaction is our top priority, and we continuously seek ways to improve and exceed your expectations.
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