Enter your email Address

  • Home
  • What is strata?
    • Strata Legislation
    • What is Strata?
    • Strata Property Basics: Strata Owners Corporation
    • Strata 101: Strata title
    • Understand Strata Management with this Five-Minute Guide
    • Cracking the Strata Fees Code
    • Strata Finance
    • 2021 Updated Guide: Master the Art of Strata Insurance
  • Strata Topics
    • Strata Information By State
      • New South Wales
      • Queensland
      • Victoria
      • Australian Capital Territory
      • South Australia
      • Tasmania
      • Western Australia
      • Northern Territory
    • Strata Information By Topic
      • COVID-19
      • By-Laws & Legislation
      • Smoking
      • Parking
      • Noise & Neighbours
      • Insurance
      • Pets
      • Your Levies
      • New Law Reform
      • Maintenance & Common Property
      • Committee Concerns
      • NBN & Telecommunications
      • Building Defects
      • Renting / Selling / Buying Property
      • Strata Managers
      • Building Managers & Caretakers
      • Strata Plan / Strata Inspection Report
      • Apartment Living Sustainability
  • Blog
    • Newsletter Archives
  • The Strata Magazine
    • The NSW Strata Magazine
    • The QLD Strata Magazine
    • The VIC Strata Magazine
    • The WA Strata Magazine
  • Advertise With Us
    • Site Sponsors
    • LookUpStrata Site Advertising
    • Your Own Branded Newsletter
  • About Us
    • Testimonials for LookUpStrata
  • Help
    • Ask A Strata Question
    • Q&As – about the LookUpStrata site
    • Sitemap

LookUpStrata

Australia's Strata Title Information Site

Whitbread Insurance Brokers
Australia's Top Property Blog Dedicated to Strata Living
You are here: Home / Strata Managers / Strata Managers WA / WA: Q&A Strata Management Charges – Bank Fees

WA: Q&A Strata Management Charges – Bank Fees

Published February 6, 2020 By Strata Alliance 1 Comment Last Updated February 18, 2021

Sharing is caring!

3shares

This Q&A about strata management charges in WA in relation to bank fees has been answered by Shelley Fitzgerald, Strata Alliance.

Question: Should we be paying strata management charges such as bank fees in relation to a trust account established by the strata manager on behalf of the strata company?

GET NOTIFIED WHEN WE PUBLISH NEW Q&As, NEWS AND ARTICLES TO THE SITE

Our signed SCA strata management agreement does not include a schedule of charges for services referred to elsewhere in the document as applicable. Is the strata manager entitled to charge for and paid for those services and at what rate?

Is a strata company obligated to pay charges that are not visible in strata records eg alleged bank fees and charges which do not appear on statements issued by a bank in relation to a trust account established by the strata manager on behalf of the strata company.

Advert: WA Mag Banner

Answer: The agreement will normally provide for all of the fees and charges.

With regard to charges, my understanding is that the agreement will normally provide for all of the fees and charges however the Strata Company may not necessarily utilise all of the services/charges available to them.

If a Strata Manager operates a trust account in the name of the Strata Company then the Strata Company would be liable for all fees and charges on that account because it is a Strata Company account. It is worth noting that the Strata Company may also have a separate Reserve Fund account which may also incur fees/charges.

You indicate there are bank fees being charged for an account that is not a Strata Company account, but a Strata Management account.

Some Management Companies operate one trust account for all of their managements and would then on-bill for any fees and charges they incur to that trust account, over all of their managed Strata Companies.

If that is the case then you may be billed an apportioned charge for bank fees however this should be reflected in the Management Contract and clearly defined. These would normally be contained in the annual budget also.

This post appears in Strata News #318

Have a question about strata management charges for items such as bank fees? If you have something to add to the article, please leave a comment below.

Embed

Shelley Fitzgerald
Strata Alliance
E: [email protected]
P: 9330 3959

Note: this general information about strata council member problems is an opinion only and suitable specialists in these areas should be sort for clarification and assistance on all points.

Please note this advice was provided prior to the proclamation of the new strata title amendments and will be updated in due course.

Read next:

  • WA: Relationship between Strata Manager and Strata Council
  • WA: Strata Manager’s Duties under the Strata Titles Act Amendments
  • WA: Q&A Where can I make strata manager complaints in WA?

Visit Strata Managers OR Strata Information WA pages.

Looking for strata information concerning your state? For state-specific strata information, try here.

After a free PDF of this article? Log into your existing LookUpStrata Account to download the printable file. Not a member? Simple – join for free on our Registration page.

Comments

  1. AvatareM says

    February 8, 2020 at 6:19 am

    A pooled trust account for all strata companies under management is a reasonably priced option and management software is able to split the transaction charges based on the receipt types automatically. Interest earned on a Trust account does not accrue to either the individual Strata Company or the Strata Manager, but I believe is a contribution to a fund that provides compensation where necessary to those who may be the subject of crime within the industry.
    Actual bank charges are generally a very small cost to the annual budget, and when considering the budget I’d recommend looking closely at what the strata company is being charged for photocopying or manual receipting by the Strata Manager as that can add substantially to cost.
    Happy hunting!

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search For Strata Articles

  • Advert Stratabox
  • StrataBox Advert
  • Advert: StrataLoans
  • Advert: StrataLoans
  • Advert: StrataLoans
Subscribe Newsletter

TESTIMONIAL

"The newsletter is very helpful and gives great guidance with commonly asked questions." Gayle, Lot Owner – November 2020
"I love your regular emails and now this fantastic magazine! Keep up the great work. " David, Lot Owner – August 2020

Quick Login

Log In
Register Lost Password

Categories

  • COVID-19
  • Ask A Strata Question
  • New South Wales
  • Queensland
  • Victoria
  • Australian Capital Territory
  • South Australia
  • Tasmania
  • Western Australia
  • Northern Territory
  • ByLaws & Legislation
  • Smoking
  • Parking
  • Noise & Neighbours
  • Insurance
  • Pets
  • Levies
  • Law Reform
  • Maintenance & Common Property
  • Committee Concerns
  • NBN & Telecommunications
  • Building Defects
  • Renting / Selling / Buying
  • Strata Managers
  • Building Managers and Caretakers
  • Strata Reports / Plans
  • Sustainability

Recent Comments

  • Bess Fowler on WA: Q&A What are the Strata Manager’s Duties and Do We Really Need One?
  • Tammy Tillman on NSW: Invasion of Privacy by CCTV Cameras
  • Frustrated with strata saying it's not their responsibility on NSW: Q&A Smoke Alarms in Strata Units
  • John on QLD: Q&A Can a Lot Owner Access Body Corporate CCTV Footage?
  • Liza Admin on QLD: Q&A Safety & Permissions for Car Park Storage
  • Liza Admin on QLD: Standard Module regulation changes – committee membership
  • Liza Admin on QLD: Q&A Appearance of Lot. What constitutes a breach?
  • William Marquand on QLD: Q&A Can I Access Body Corporate Records?
  • William Marquand on QLD: Q&A Exclusive Use Common Areas inc. Storage Spaces
  • Tyrone Shandiman on NSW: Q&A Are There Strata Laws Stopping Me From Gardening on Common Property?

WEBSITE INFORMATION

  • Privacy Policy
  • Terms and Conditions of Use
  • Terms of Use for Comments and Community Discussion
  • Advertising Disclosure
  • Sitemap

SCA Membership

SCA WA Membership

ASK A STRATA QUESTION

Disclaimer

The opinions and/or views expressed on the LookUpStrata site, including, but not limited to, our blogs and comments, represent the thoughts of individual bloggers and our online communities, and not those necessarily of LookUpStrata Pty Ltd. In all instances, information should not be taken as advice and independent legal advice should be consulted.

CONTACT US VIA EMAIL

Copyright © 2021 · LookUpStrata ® Pty Ltd · All rights reserved