It is sensible for potential and existing executive committee members to have a working understanding of the building’s by-laws and the governing state legislation, the building’s past committee and general meetings minutes, issues and financial position (including past, present and future levies, administration and sinking fund spending). Examine various service provider payments, contracts and requirements (especially the strata manager any building management or regular charges). Legislative information can be found online (see resources section 6). Peruse past minutes or ask the strata manager for copies or attend at the strata manager’s premises to inspect the strata records – generally a fascinating exercise.
There is a plethora of expertise and information and help out there if you care to look. Join various strata communities such as Owners Corporation Network of Australia, the Green Strata and refer to the wealth of information on the Office of Fair Trading’s web site and strata information booklets. Subscribe to various strata information newsletters form various strata lawyers or managers e.g. Makinson & d'Apice’s Common Property: Legal news for the strata and company title management industry. Surf the net to familiarise yourself with the numerous blogs, forums and sources of information out there is on strata e.g. ‘Flat Chat’ online by Jimmy Thompson.