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The appointment and giving of powers to a managing agent can only be decided by a majority vote at a general meeting [s. 27 (1)]. Only a person who holds a strata managing agents licence under the Property Stock and Business Agents Act can be appointed [s. 26]. 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 is one which the owners corporation has decided must go to a general meeting)
- set levies [s. 28 (3)].
A managing agent must write to the owners corporation and tell them what duties they are doing and how they are doing them [s. 31].
A managing agent must give details of trust accounts and financial transactions when asked in writing by the owners corporation [s. 33].
The owners corporation and its executive committee can still carry out its duties even if it has delegated them to a managing agent [s. 28 (6)].
A strata managing agent can not transfer the management of the scheme to another strata management business without the approval of the owners corporation [s. 27 (3)].
