A strata managing agent may carry out some or all of the functions, duties or powers of the owners corporation. Owners corporations must make sure that any managing agent they engage is licensed under the Property, Stock and Business Agents Act 2002.
The appointment and giving of powers to a managing agent can only be decided by a majority vote at a general meeting. The length of the appointment should be negotiated by the parties. Owners corporations should make themselves aware of the terms of any agency agreement they enter into.
A managing agent cannot be given the power to:
- delegate their powers, authorities, duties or functions to others
- make a decision on a restricted matter (ie. a matter that needs a special or unanimous resolution or which the owners corporation has decided must go to a general meeting)
- set levies.
A managing agent must write to the owners corporation and tell them what duties they are doing and how they are doing them. A managing agent must give details of trust accounts and financial transactions when asked in writing by the owners corporation.
The owners corporation and its executive committee can still carry out its duties even if it has delegated them to a managing agent.
A strata managing agent can not transfer the management of the scheme to another strata management business without the approval of the owners corporation.