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Regardless of the approaching settlement date given by the incoming manager's solicitor, the Body Corporate should never feel pressured into entering into the agreement without seeking legal advice (keeping in mind they keep in line with Body Corporate and Community Management legislative requirements). The Body Corporate should always conduct an interview with the incoming manager as if they were an employee of their own business. The purpose of this questionnaire is to provide the members of the Body Corporate with information so that they may be sure the criteria as to a new manager’s suitability, laid down in the Body Corporate and Community Management Act, are satisfied. The Body Corporate should ask:
- Overview - do they have a resume, providing any qualification and/or their work experiences?
- Characteristics - any previous convictions, debt related incidences, or any current litigation matters?
- Financial Standing - are they borrowing money for the management rights, and if so who are they borrowing from?
- Terms of the purchase - what entity is buying the rights and the manager's unit?
- Competance - what is their state of health or is there any history of health problems?
- Knowledge - what qualifications do they have? Have they served in this type of role before or in a similar industry?
- Participation with the Committee - are they prepared to liaise with the Committee and attend to their meetings?
These are all questions that should be considered before entering into an agreement with an incoming resident manager.
You Body Corporate Manager should be able to assist with this process, and provide a detailed questionaire for the benefit of your Body Corporate.
Everybody's guide to the Assignment of Management Rights- Part 1 from Stewart Silver King & Burns on Vimeo.
