How to Become a Self-Managed Strata Scheme (NSW)

More strata schemes are choosing to self-manage to reduce costs, regain control, and improve oversight of building decisions. However, transitioning away from a strata manager requires proper planning, clear processes, and an understanding of what must be handled internally.

This guide outlines the essential steps for becoming self-managed in NSW, including how Strata On Demand can help, meeting requirements, financial setup, compliance, and the operational framework your committee will need.

Why More Schemes Are Choosing to Self-Manage (And Why It Works)

Self-managed strata is no longer a high-risk or time-consuming option.
For many Australia-wide schemes, it’s a simpler, cheaper, and more transparent way to run their building — especially when professional support is used strategically.

Key Benefits of Being a Self-Managed Scheme

Lower ongoing costs
No long-term management contracts, no hidden fees, and no unnecessary mark-ups. You pay only for what you use.

Greater control and faster decisions
Committees approve spending, choose contractors, and resolve issues without delays or third-party bottlenecks.

Clearer financial visibility
Committees can see exactly where money is going and why, with full transparency over levies and expenditure.

Flexibility to outsource only what you want
Self-managed does not mean doing everything yourself. Most schemes outsource meetings, compliance, insurance, and technical work.

Professional support without full-management costs

Strata On Demand provides expert strata services on a pay-as-you-go basis, allowing schemes to stay independent without being overloaded.

Self-management is about removing unnecessary layers, not creating more work.

How Strata On Demand Can Assist

We provide support across all areas needed for successful self-management, including:

  • Self-Managed Transition Support
  • Strata Roll Setup / Audit
  • Compliance Health Checks
  • AGM / EGM Meeting Services
  • Drafting Notices & Letters
  • Application Review & Approval Management
  • Levy Notice & Arrears Summary Drafting
  • Work Order Management
  • Quote Request Coordination
  • Insurance Quote Coordination
  • Insurance Claim Lodgement
  • By-Law Drafting
  • Tribunal Preparation

Pay-as-you-go support means no contracts, no lock-ins and no hidden extras.

Ready to Become Self-Managed?

If your committee is planning to self-manage or needs help transitioning, Strata On Demand can support you at any stage, with clear pricing and no long-term commitments.

What Does It Mean to Be a Self-Managed Strata Scheme?

A self-managed strata scheme does not appoint a licensed strata managing agent.
Instead, the committee oversees the scheme and outsources tasks as required.

This usually includes oversight of:

  • Meetings (AGMs, EGMs, committee meetings)
  • Levies, budgets, and financial control
  • Insurance renewals and claims
  • Quotes, work orders, and contractors
  • Record-keeping and document storage
  • Mandatory compliance (Strata Hub, AFSS, valuations, CWFP, etc.)

Most self-managed schemes do not perform all of this internally.

Strata On Demand provides all of these services individually, with no contracts and no lock-in, making self-management practical and low-risk.

When Is Self-Management a Good Option?

Self-management works best when:

  • The committee wants greater control and cost certainty
  • Responsibilities can be shared lightly
  • The building is not extremely complex
  • Specialist and compliance tasks are outsourced

Many schemes move to self-management specifically because professional support is available when needed.

Step-by-Step: How to Become a Self-Managed Scheme

Step 1: Hold a Meeting to Consider Self-Management (Strata On Demand Can Help)

Owners should meet to discuss:

  • Why self-management is being considered
  • Which tasks will be outsourced
  • Transition timing
  • Any risks or concerns

The decision should be recorded in formal minutes.

Strata On Demand can draft the agenda, chair the meeting, and prepare compliant minutes to properly document the decision.

Step 2: Review the Current Strata Management Agreement (Strata On Demand Can Help)

If the scheme is currently managed, review:

  • Contract end date
  • Termination clauses
  • Notice periods
  • Exit conditions or fees

Termination must follow the agreement.

Strata On Demand can review the agreement and guide the transition to avoid disputes or delays.

Step 3: Retrieve All Records From the Outgoing Manager (Strata On Demand Can Help)

The committee must obtain:

  • Strata roll
  • Financial statements
  • Levy register and arrears list
  • Insurance policies and certificates
  • Meeting records
  • Contractor and work order history
  • Compliance reports
  • Digital access and records

Strata On Demand can assist with Strata Roll Setup, record collation, and identifying missing or incomplete documents.

Step 4: Set Up the Owners Corporation Bank Account (Strata On Demand Can Help)

Every self-managed scheme must have its own bank account.

Account name:
“The Owners – Strata Plan XXXX”

Never use a personal account.

What the account is used for:

  • Receiving levies
  • Paying contractors and insurance
  • Managing administrative and capital funds

Best practice includes dual signatories and monthly reconciliation.

Strata On Demand can assist with financial setup, levy structures, and compliance-ready processes.

Step 5: Confirm Insurance Arrangements (Strata On Demand Can Help)

Ensure:

  • Building insurance is current
  • Premiums are paid from the OC account
  • Insurance valuations are up to date
  • Certificates are stored correctly

Strata On Demand can coordinate insurance quotes, renewals, valuations, and claims as required.

Step 6: Put Simple Operating Processes in Place (Strata On Demand Can Help)

A self-managed scheme needs clear but simple processes for:

  • Meetings and minutes
  • Owner correspondence
  • Invoice approvals
  • Contractor engagement
  • Record storage
  • Compliance tracking

These do not need to be complex.

Strata On Demand can handle meeting administration, minutes, work orders, correspondence, and documentation whenever the committee prefers.

Step 7: Organise Mandatory Australia-wide Compliance (Strata On Demand Can Help)

Self-managed schemes must still meet all legislative obligations, including:

  • Strata Hub annual reporting
  • AFSS
  • Capital Works Fund Plan updates
  • Window safety inspections
  • Asbestos register management
  • Insurance valuations
  • Financial audits (if required)

Strata On Demand provides pay-as-you-go coordination and lodgement for all compliance obligations.

Step 8: Decide What to Outsource

Most self-managed schemes outsource:

  • AGM / EGM agendas
  • Chairing and minutes
  • Levy notices and arrears summaries
  • Quote coordination
  • Work order management
  • Insurance services
  • By-law drafting
  • Tribunal preparation
  • Compliance-heavy tasks

Strata On Demand supports this hybrid model by handling only the tasks the committee does not want to manage internally.

Step 9: Operate Confidently as a Self-Managed Scheme

Once the scheme has:

  • Retrieved all records
  • Opened its bank account
  • Confirmed insurance
  • Established meeting processes
  • Set compliance reminders
  • Organised finances

…it can operate confidently without a strata manager.

Strata On Demand remains available for ongoing support with no contracts, no retainers, and no lock-in.

Common Mistakes (And How to Avoid Them)

Common issues include:

  • Using personal bank accounts
  • Missing compliance deadlines
  • Informal decisions without minutes
  • Poor record-keeping
  • Incorrect documentation
  • Outdated insurance valuations

Strata On Demand helps self-managed schemes avoid these risks while staying fully independent.

Final Positioning

Self-management is not about taking on extra work.
It’s about control, transparency, and flexibility — with professional support available when needed.

Strata On Demand makes self-managed strata achievable, compliant, and low-stress.

How Strata On Demand Can Assist

We provide support across all areas needed for successful self-management, including:

  • Self-Managed Transition Support
  • Strata Roll Setup / Audit
  • Compliance Health Checks
  • AGM / EGM Meeting Services
  • Drafting Notices & Letters
  • Application Review & Approval Management
  • Levy Notice & Arrears Summary Drafting
  • Work Order Management
  • Quote Request Coordination
  • Insurance Quote Coordination
  • Insurance Claim Lodgement
  • By-Law Drafting
  • Tribunal Preparation

Pay-as-you-go support means no contracts, no lock-ins and no hidden extras.

Ready to Become Self-Managed?

If your committee is planning to self-manage or needs help transitioning, Strata On Demand can support you at any stage, with clear pricing and no long-term commitments.