Question: Our body corporate manager’s contract is due for renewal. They want to submit a three year contract, which we would consider, but do we have to list an alternative for owners to look at?
Answer: You will need to get at least 2 quotes if the value of the proposed engagement is greater than the major spending limit.
You will need to get at least 2 quotes if the value of the proposed engagement is greater than the major spending limit. The major spending limit is the lesser of either $1,100 multiplied by the number of lots in the scheme, of $10,000. You’re not obliged to list an alternative otherwise, although it is open to an owner to get a quote from another management firm if they wish.
Chris Irons Strata Solve E: chris@stratasolve.com.au P: 0419 805 898