How do we deal with contracts and terminations?
In New South Wales, resident management agreements expire at the conclusion of the first annual general meeting. In Queensland the standard length of resident management agreements is 10 years, although they can be up to 25 years. In cases where lot owners have been dissatisfied with the performance of the resident manager or their leasing commissions or fees, the length of terms has been a point of contention, and there have been calls for shorter term management agreements to allow more regular contractual review. Where a caretaker has been found to be in breach of their contracts, courts have found that owners corporations have the right to terminate them. In New South Wales, a caretaker agreement may be terminated in accordance with its terms if authorised by a resolution at a general meeting.