One of the most neglected & misunderstood areas of the Strata Property Act

 Does your Strata have up to date records?

 Here's why it's so important.

 This is an area of the Strata Property Act which is often neglected and misunderstood by many councils and management companies alike.

Strata Councils should take the time to familiarize themselves with Sections 35, 36 & 37 of the Act. This pertains to the Strata Corporation’s records being meticulously maintained in accordance with
Section 35 – Strata Corporations Records. 

In the case of Section 36 – Access to Records - Strata Councils should be very careful when providing access to records, always being cognizant of the PERSONAL INFORMATION PROTECTION ACT (PIPA). If in doubt, err on the side of caution and get professional legal advice.

Section 37 Strata Manager to Return Records – When terminating the services of the management company, strata councils should ensure that all records are received along with a detailed list of the same, which should be carefully checked against the list, prior to signing off on receipt of the records.

NOTE: As a council member, when a management change is happening during your time as a council member, do NOT assume the new management company will have procured all the records from the old management company. We advise council to ensure this has been done, so make the proper enquiries, otherwise your historical records could be gone.

Related Article:

Have strata council's expenditures been approved? How do you know?

More Strata Governance Pages & Articles: 
 

• Strata Governance & How We Can Help
   
• The Truth About Strata Depreciation Reports
• Are There People in Your Strata Complex Getting a Free Ride?
• Myths Surrounding the Dreaded Strata Depreciation Report
• Strata Governance and Compliance. Do you know the difference?
• Your Strata could be NON COMPLIANT. How do you know for sure?
• Is Your Strata properly insured? Many are not and don't know it!
• How to avoid Personal Liability as a Strata Council Member
• One of the most neglected & misunderstood areas of the Strata Property Act
• Have strata councils expenditures been approved? How do you know?