A managing agent licensed under the Property, Stock and Business Agents Act may carry out some or all of the functions, duties or powers of the owners corporation.

An owners corporation may choose to carry out all its own functions. However, when these functions are delegated to someone else there are limits on who can be responsible for certain tasks.

It is necessary to use the services of a licensed strata managing agent if the following functions are to be delegated:

• the preparation of administrative and sinking fund estimates
• levying contributions
• receiving, receipting, banking, having custody of, and spending money (certain accountants can also be authorised to carry out these duties)
• taking out insurance
• conducting meetings and handling correspondence
• maintaining records
• arranging fire safety inspections
• ensuring compliance with occupational health and safety requirements
• entering into common property maintenance and service contracts
• arranging for section 108 inspections and section 109 certificates.

The role of caretakers is limited to the management, maintenance and repair of common property and controlling the use of common property by tradespersons and suppliers.