How do we move the strata bank account away from our manager?
Flatflo editorial team · Last reviewed 2026-10-20
Quick answer
Open or confirm an account in the owners corporation's name, with committee members authorised to operate it as your resolution allows. Ask the outgoing manager to transfer all fund balances, then send owners the new payment details in writing.
The full answer
Check the transferred balances against the last bank statements and the levy register. Keep paying insurance and utilities during the switch so nothing lapses.
Step by step
- 1Pass a resolution naming who can operate the account
- 2Open the account in the scheme's name
- 3Request transfer of all fund balances
- 4Reconcile against the final statements
- 5Tell owners the new payment details
General information only, not legal advice. Strata rules differ between states and change over time; check your state's law or get advice for your situation. Last reviewed 2026-10-20.
Related questions
How do we end our strata management agreement?Check the agreement for its term and notice period, then pass a resolution at a general meeting to end it, as your state law requires. Give the manager written notice, agree a handover date and ask for all records, money and keys to be transferred to the committee.What vote do we need to stop using a strata manager?Usually a resolution at a general meeting of owners. The type of resolution and any notice rules depend on your state's strata law and your agreement. Put the motion on the agenda properly, with the required notice, so the decision can't later be challenged.What records must the outgoing strata manager hand over?Everything that belongs to the owners corporation: the strata roll, financial records and bank statements, minutes, insurance policies, by-laws, contracts, plans, correspondence, keys and the common seal if there is one. Ask for a written list and check it against what you receive.What if our strata manager won't hand over the records?Ask again in writing, quoting the date of the resolution and the handover deadline. If they still don't comply, contact your state's fair trading body or strata regulator, or apply to the tribunal that handles strata disputes in your state for an order.Can we go back to a strata manager later?Yes. Self-management isn't permanent. Owners can vote at a general meeting to appoint a strata manager at any time. Keeping clean records and up-to-date accounts while you self-manage makes any future handover simple, whichever way you go.Does our strata management agreement renew automatically?Some agreements roll over or renew unless notice is given by a set date, and state laws limit how this can work. Check the term, end date and renewal clause, and diary the notice deadline so the building doesn't slip into a new term by accident.How long does it take to change strata managers?It depends mainly on your agreement's notice period and when you can hold a general meeting. Once the vote passes and notice is given, the handover itself usually takes a few weeks if requests are clear and in writing.