The Case of the Runaway Body Corporate Manager (Melbourne)

body corporate manager ran away with the money

It starts with a phone or an email – a familiar story with a plot that plays out the same way.
 

How It Starts

The group of 6 townhouses or that block of 10 apartments. The owners corporation manager (formerly known as body corporate manager) is either a sole trader or the local real estate office.

The owners corporation (formerly body corporate) contains only a few shared cost items: the building insurance, common electricity and maybe a gardener. The manager’s role elementary and not too involved; levying and collecting funds from owners.

It was also probably likely that the owners corporation manager maintained the one bank account that lumped and muddled together all the payments from all the buildings they managed. The last Annual General Meeting was not necessarily that ‘annual’ having being held two and half years ago and owners, over time, grow accustomed to paying their levies without question.
 

Then One Day…

The manager packs up and skips town. Perhaps it’s sunny Queensland or somewhere further a field.

Any books and records that had been kept now almost impossible to retrieve. Financial records, building manuals, insurance claims, meeting resolutions and minutes, details of leases/licences…gone.

And what about those funds? How do you ascertain the financial position of your owners corporation? Will it be possible to recover any funds that belong to the Owners?

 

Has This Happened To You?

Write to us at office@strataconsultants.com.au and tell us your runaway Body Corporate Manager story.

The contents of this article or website are only intended to provide a general overview of the topics discussed. The author of this article makes no representations as to the accuracy or completeness of any information and the information is not intended to constitute investment, legal or professional advice. You should seek professional advice before acting or relying on any of the content. This article does not contain references to any specific company, organisation or individual, unless expressly specified.

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