Stewart Silver King and Burns (SSKB) through its consulting arm, has developed a process for assisting bodies corporate when a Resident Manager requests the management rights be transferred.

On occasion a Body Corporate is faced with such a request and is asked to consent to the assignment of the management rights from the Resident Manager to another party.

The assignment is provided for in the caretaking agreement between the Body Corporate and the Resident Manager. It is a right of the manager to request and be given consent to the transfer of the management rights, providing the incumbent Resident Manager meets certain pre-conditions.The incoming Resident Manager must produce evidence to substantiate -

• They are of appropriate financial standing.
• They are suitably competent, qualified, and experienced.

Under the first part of the process, SSKB will interview the proposed incoming manager and provide a report to the Body Corporate to allow the Committee to assess whether the proposed new manager is

• financially sound;
• responsible;
• respectable; and
• capable of performing the obligations in the caretaking and letting contracts.

SSKB also ensures the proposed management rights holder receives adequate instruction and training from the present manager; obtains the appropriate license; and is fully aware of their obligations under the caretaking and letting agreements.

Your Body Corporate or Owners' Corporation does not even need to be managed by SSKB. We are happy to share our expertise and conduct the necessary assessment on a one-off consultancy basis. Please contact Martin Walsh on (07) 5504 201 or mwalsh@sskb.com.au for further information.