1. Read your agreement
- Term and end date
- Notice period and how notice must be given
- Automatic renewal or rollover clauses
- Exit or handover fees
2. Decide what comes next
Choose a new manager, self-management or a hybrid before the vote, so the meeting can approve the whole plan in one go.
3. Call the general meeting
Put clear motions on the agenda: end the current agreement, appoint the replacement (or confirm self-management), and confirm who can operate the bank account. Give the notice your state requires.
4. Give written notice
After the vote, send the manager written notice quoting the resolution, the end date and a handover date.
5. Collect everything
- Strata roll and levy register
- Financial records and bank statements
- Minutes, by-laws and correspondence
- Insurance, contracts, plans and keys
6. Move the money
Transfer funds to the new account in the scheme's name and tell owners the new payment details in writing.
Common pitfalls
- Missing the notice window and rolling into a new term
- Motions worded too vaguely to act on
- Insurance or bills lapsing during the switch
- Handover lists not checked against what arrives