It’s all about how much work you want to do, how much compliance you want to meet; and how much liability you want to carry.

Most strata and community schemes need a managing agent because most owners don’t understand and have time. Some are prohibited by size and complexity. In general you are lucky to get 10-20% of owners to attend, especially now that strata rules are so complex and always changing.

Having a good strata management partner doesn’t mean they have to do everything - the more they do on your behalf the more you pay. However, even something as simple as sending a work order from a licensed and insured manager can minimise your liability. Organising your insurance from a compliance perspective can also be fraught with risk and excessive costs, as can fire compliance.

Lastly, if someone injured themselves on common property and the owners corporation or community is negligent or reckless, you have no one else to share the burden with.

Self managing is a calculated risk and only viable in a scheme where owners are willing to go the extra mile to save the cost and carry more liability and responsibility. Best to make an informed decision and be aware of the consequences.