How do you re-establish a strata scheme that has become defunct with no records or funds?

We often pick up self manage schemes with little to no records. When this happens, we start our usual process from scratch, which is:

• Work with an owner to set up and convene an Extraordinary General Meeting to appoint us as Strata Managers
• Set up the books and records of the Strata Scheme
• Call the First Annual General Meeting or an Annual General Meeting to do all the usual things that a Strata Scheme is legally required to do which include:
  • Accept the last minutes
  • Accept and vote on the the budget
  • Adopt the financial statements
  • Confirm the insurances
  • Elect the strata committee
  • How to deal with overdue strata levies

By having a strata committee and adopting levies and a budget, there is the ability for the strata scheme to function, pay invoices, maintain common property and conduct its business.

We can then prioritise any outstanding items and get to work.

I strongly suggest that you look to get the help from a suitably qualified and licensed Strata Manager to assist you with this process.

Rod Smith The Strata Collective E: rsmith@thestratacollective.com.au P: 02 9879 3547