I am an apartment owner in a large strata scheme of more than 100 lots. As a committee member and individual owner, can I access all bills and expense statements plus incoming money (Trust Account) statements anytime?
Strata managers generally maintain a portal via their strata software which allows access to this information at any time.
There’s no different provisions for large strata schemes (more than 100 lots) than there is for other strata schemes when it come to records and financial statements.
As an owner within a strata scheme, the requested documents relating to income and expenditure for your strata scheme are available via a search of the owners corporation records arranged with the owners corporation (generally via the strata manager).
It is generally the case that strata managers will issue committee member's financial statements monthly or on request. There may or may not be a charge for this under the agreement.
Strata managers also generally maintain a portal via their strata software which allows access to this information at any time.
See below sections of the Act which are relevant.
STRATA SCHEMES MANAGEMENT ACT 2015 – SECT 182 – search of books and records
STRATA SCHEMES MANAGEMENT ACT 2015 – SECT 93 – financial statement requirements
Log in to your existing Lookupstrata Account to download the printable file.
Andrew Terrell is a strata and facilities management professional, with close to 20 years’ experience in roles up to and including licensee in charge and state manager of Bright & Duggan.
Andrew works with strata owners and developers daily to help them achieve their desired outcomes. Andrew is a regular contributor to LookUpStrata.
Andrew is the director for Bright & Duggan and Cambridge Management Services in the Hunter NSW region. Andrew believes that the future for the strata industry is based heavily on amazing technology underpinned by great people, along with an increased focus on the expert management of the asset. Andrew's LinkedIn Profile.
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