Strata Managers in Potts Point, 2011

Choosing a Strata Manager in Potts Point

No single manager dominates Potts Point: the largest, Strata Choice Pty Ltd, holds just 22% of local schemes, giving owners real leverage when negotiating fees and service terms.

With 44 managers competing for 201 schemes in Potts Point, switching is straightforward — but asking the right questions up front saves time and money. Here’s what to focus on:

• Ask about handover fees — some managers charge a “termination” or “file transfer” fee when you leave. Get this in writing before signing. The Strata Schemes Management Act 2015 requires outgoing managers to hand over records within 28 days.
• Request recent financials — ask shortlisted managers for a redacted copy of a recent treasurer’s report and annual financial statement. The quality and transparency of these documents tells you more than a pitch meeting.
• Check their owner portal — most managers now offer online portals for document access, levy payments, and maintenance requests. Ask for a demo login — a clunky portal means ongoing frustration for your committee.
• Ask for references from similar buildings — a manager who excels with 200-lot high-rises may not be the right fit for a 12-lot walk-up (the average scheme in Potts Point has 52 lots). Ask for contacts at buildings similar to yours in size and type.
• Review the contract term and exit clauses — standard agreements run 12 months with 3 months’ notice. Be wary of contracts longer than 3 years or with automatic renewal clauses that are hard to exit.

All strata managers in NSW must hold a valid licence from NSW Fair Trading. You can verify any manager’s licence status on the StrataHub register. For a detailed walkthrough, see our guide to comparing strata managers.