The single biggest risk in self-management isn't a bad decision — it's a missed one. A strata manager's real value was never the advice; it was the quiet machinery in the background that renewed the insurance on time, booked the valuation when it was due, and called the AGM inside the legal window. Take that away and every one of those obligations still exists — it just has no one watching it. Miss the insurance renewal and the scheme is uninsured. Miss the AGM window and your resolutions are open to challenge. Miss a safety inspection and the committee is personally exposed if something goes wrong. None of it is hard; it just has to be remembered, every year, by volunteers with day jobs. This guide turns the scattered obligations of a small scheme into a single calendar you can run against — what's due, roughly when, and where the timing differs by state.
Why a compliance calendar, and not just a good memory
Strata obligations fall into a few rhythms. Some are annual and fixed to your scheme's own dates (the AGM, tied to your financial year-end). Some are annual but tied to an external date you don't control (the insurance renewal, set by the policy). Some recur on a longer cycle (a building valuation every few years). And some are triggered by events, not the calendar (a new by-law, a defect, a change of committee). A memory holds none of this reliably across a year, and committees turn over — the treasurer who knew the valuation was due in March resigns in February and takes the knowledge with them.
A written calendar does three things a memory can't: it survives a change of committee, it lets you see the whole year at once (so you don't discover three deadlines stacked in the same fortnight), and it makes the obligation the scheme's, not one person's. Build it once, hand it over with the records, and every future committee inherits it.
Why it matters
- Lapses are silent until they're catastrophic. An expired insurance policy looks exactly like a current one until there's a claim. A missed AGM window isn't visible until someone challenges a resolution.
- The committee carries the exposure. Office-bearers can be personally liable where a compulsory obligation — insurance, a safety check — was simply forgotten.
- The dates don't move to suit you. Notice periods, renewal dates, and lodgement deadlines are fixed. Discovering one late usually means you've already missed it.
How to build your scheme's calendar
Before you can run a calendar you need three of your scheme's own dates, because half the obligations hang off them:
The dates your calendar is built around
- Your financial year-end. This anchors the AGM (which must be held within a set period after year-end) and the annual financial statements. Many schemes run to 30 June; yours may differ — check your records.
- Your insurance renewal date. Set by the policy, not your financial year. Note it precisely; this is the one lapse that can bankrupt owners.
- Your last building valuation date. The valuation cycle counts from here. If you don't know it, finding out is job one — an out-of-date valuation quietly under-insures the scheme.
Turn them into recurring reminders
Once you have those anchors, set a reminder ahead of each deadline, not on it — a renewal reminder that arrives the day the policy expires is useless. A practical lead time:
- Insurance renewal — reminder 6 weeks out, so there's time to review the sum insured and shop the market if needed.
- AGM — reminder at year-end, so you can prepare statements and issue notice inside the window.
- Building valuation — reminder in the year it falls due, well before renewal, so the new figure feeds the policy.
- Levy due dates — reminder a couple of weeks before each instalment, so notices go out on time.
- Safety inspections — reminder annually (or per the required interval) for each applicable check.
The strata year, month by month
Every scheme is different, but the obligations cluster predictably. Below is a representative calendar for a scheme with a 30 June financial year-end — shift the AGM-linked items to match your own year-end. Treat it as a template to adapt, not a fixed timetable.
After year-end — prepare and call the AGM
The largest cluster of work follows the financial year-end. You need to close the books, prepare the annual financial statements, set next year's budget and levies, and call the AGM within the legal window (see the per-state callouts — the deadline and notice period both vary). This is where preparing your annual financial statements and issuing proper notice come together.
- Close the accounts for the financial year just ended.
- Prepare the annual financial statements.
- Draft next year's budget for the admin and capital works funds, and set levies.
- Issue AGM notice with the agenda, statements, and any motions — inside the required notice period.
- Hold the AGM; record minutes; distribute them within the required time.
Around the policy anniversary — insurance renewal
Independent of your financial year, the insurance renewal comes due on the policy's own anniversary. Don't just accept the renewal notice and pay it:
- Review the sum insured against current rebuild cost, not last year's figure.
- Confirm public liability and the standard covers (office-bearers', voluntary workers', fidelity) are all present.
- Check whether a valuation is due this cycle and feed its figure in before renewing.
- Pay from the admin fund before the expiry date — never let it lapse — and report the sum insured and valuation date to owners at the AGM.
See Strata Insurance Explained for what the policy must cover and how to set the sum insured.
Every few years — building valuation
Most states expect a professional insurance valuation at a set interval (commonly every five years). It's easy to forget precisely because it's not annual — which is exactly why it belongs on the long-cycle part of the calendar. An out-of-date valuation is the quiet cause of under-insurance. See building valuation for insurance for how often and by whom.
Recurring through the year — levies and safety
- Levies — issued each quarter (or per your scheme's cycle), with arrears followed up consistently between instalments.
- Safety and building compliance — fire safety measures, and any pool/spa, lift, or essential-services checks that apply to your building, each on its required interval. What applies depends heavily on your building type and state; a scheme of freestanding villas carries far less here than a mid-rise with a lift and a pool.
- Records upkeep — minutes, financial records, the roll of owners, insurance documents, and correspondence kept current and retained for the required period.
Per-state timing: where committees get caught
The national rhythm above is consistent, but three things differ by jurisdiction and catch self-managed committees out: how long after year-end the AGM must be held, the AGM notice period, and the tribunal or regulator you deal with when something goes wrong. Always confirm the current figures against your state's legislation and regulations.
New South Wales — Strata Schemes Management Act 2015
The owners corporation must hold its AGM within a set period after the end of the financial year (check the current period in the Act — the first AGM after registration has its own rule). AGM notice must generally be given at least 7 days before the meeting, with the agenda and required financial documents attached.
Building insurance must be held to full replacement value, with a valuation at least every 5 years, and public liability cover to the prescribed minimum. Fire safety obligations flow from the Environmental Planning and Assessment framework — an Annual Fire Safety Statement is commonly required for buildings with essential fire safety measures. Disputes and orders go through NSW Fair Trading and NCAT.
General information only — not legal advice.
Queensland — Body Corporate and Community Management Act 1997
The body corporate must hold its AGM within the period set by its regulation module (commonly within a few months of the financial year-end — the exact rule depends on your module). Notice of a general meeting must generally be given at least 21 days beforehand, with the agenda, motions, and budgets.
Insurance obligations depend on your regulation module and plan format — a building-format plan insures the buildings to full replacement value; a standard-format plan often leaves building insurance to owners but still requires public risk cover. Pool safety certification and fire safety obligations apply per the building. Disputes go to the Commissioner for Body Corporate and Community Management.
General information only — not legal advice.
Western Australia — Strata Titles Act 1985
The strata company must hold an AGM each year, with the first within a set period of the scheme's first sale. Notice of a general meeting must generally be given at least 14 days beforehand, with the agenda and financial information.
The strata company must insure buildings and improvements to reinstatement value and hold public liability cover; a single-tier scheme may resolve unanimously to opt out of collective building insurance. The 2020 reforms tightened record-keeping and disclosure — keep the roll, minutes, and insurance details current. Disputes go to the State Administrative Tribunal (SAT).
General information only — not legal advice.
Victoria — Owners Corporations Act 2006
A prescribed owners corporation must hold an AGM each year; smaller or limited-function OCs may have reduced obligations. Notice of a general meeting must generally be given at least 14 days beforehand, with the agenda, fees, and financial statements.
The OC must hold reinstatement insurance for buildings on common property and public liability cover to at least the prescribed minimum. Larger OCs carry additional duties (such as maintenance planning and funds). Essential safety measures require ongoing checks and an annual essential safety measures report where applicable. Disputes go to Consumer Affairs Victoria and VCAT.
General information only — not legal advice.
A working annual checklist
Copy this into your scheme's records and set the reminders. Adjust the months to your financial year-end and your policy anniversary.
Anchored to your financial year-end
- [ ] Close the accounts for the year
- [ ] Prepare annual financial statements
- [ ] Set next year's budget and levies (admin and capital works funds)
- [ ] Issue AGM notice inside the required notice period
- [ ] Hold the AGM and distribute minutes on time
Anchored to your policy and building
- [ ] Review and renew building insurance before expiry (sum insured checked, not just rolled over)
- [ ] Obtain or confirm the building valuation on its cycle
- [ ] Complete required fire safety, pool/spa, lift, and essential-services checks
- [ ] Lodge any required annual safety statement/report
Recurring and ongoing
- [ ] Issue each levy instalment on schedule and follow up arrears
- [ ] Keep minutes, financial records, the owners roll, and insurance documents current
- [ ] Meet tax obligations (see below) on their deadlines
Don't forget tax and registrations
Strata schemes are entities in their own right and can have obligations to the ATO — commonly lodging an annual return, and where the scheme is registered for GST, quarterly business activity statements. Whether and how these apply depends on your scheme's income and registrations, so confirm your position with an accountant rather than assuming. The point for the calendar is simply that tax deadlines are external and fixed — they belong on the same calendar as everything else, not in a separate pile that surfaces at tax time.
Common mistakes
1. Diarising the deadline instead of a lead time
A reminder that arrives on the renewal date or the AGM deadline is already too late — there's no time to review the sum insured, prepare statements, or give proper notice. Always set the reminder weeks ahead of the obligation, not on it.
2. Letting the calendar live in one person's head
The treasurer who knows the dates resigns, and the knowledge leaves with them. Write the calendar into the scheme's records so it survives a change of committee — that's the whole point of having one.
3. Treating the insurance renewal as a formality
Rolling over last year's policy without checking the sum insured is how schemes drift into under-insurance. Renewal is a decision point, not a payment — review the figure every year.
4. Forgetting the non-annual obligations
The five-yearly valuation and periodic safety checks are the easiest to miss precisely because they don't come round every year. Put them on the long-cycle part of the calendar the moment you learn their due date.
Frequently asked questions
How soon after our financial year-end must we hold the AGM?
It depends on your state — each sets its own period after the financial year-end, and the first AGM after a scheme is registered often has a separate rule. Check the callout for your jurisdiction and confirm the current figure in the legislation, then work backwards to allow time to prepare statements and give proper notice.
What's the one deadline we absolutely cannot miss?
The insurance renewal. A lapsed policy leaves the scheme uninsured and the committee exposed — and unlike most obligations, there's no grace period. Diarise it well ahead and never let it slip.
How often do we need a building valuation?
Most states expect a professional insurance valuation at least every five years, and sooner if construction costs are moving fast or the building has changed. Because it's not an annual event, it's the obligation committees most often lose track of.
Do small schemes have fewer obligations?
Often, yes. Some states reduce the duties of two-lot, single-tier, or limited-function schemes, and a building with no lift or pool simply has fewer safety checks. But "fewer" is not "none" — you still need insurance, an AGM (in most cases), and current records. Confirm exactly which obligations apply to your scheme.
Who is responsible if a compliance deadline is missed?
The obligation sits with the owners corporation as a whole, but committee members can be personally exposed where a compulsory duty was simply neglected. That exposure is the reason to run a calendar rather than rely on memory.
Quick checklist
- [ ] Your financial year-end, insurance renewal date, and last valuation date are written down
- [ ] Reminders are set ahead of each deadline, not on it
- [ ] The AGM is planned to fall inside your state's window, with proper notice
- [ ] The insurance renewal is reviewed (sum insured checked) and paid before expiry
- [ ] The building valuation is scheduled on its cycle
- [ ] Required safety checks and any annual safety statement are diarised
- [ ] Tax and registration deadlines are on the same calendar
- [ ] The whole calendar lives in the scheme's records, not one person's memory
Related resources
- Strata Insurance Explained: What Your Scheme Must Cover, and What It Doesn't
- Do You Need a Building Valuation for Insurance, and How Often?
- Preparing Your Annual Financial Statements for the AGM
This guide is general information for self-managed strata schemes in Australia. It is not legal advice. AGM windows, notice periods, valuation intervals, and safety-compliance obligations differ between states and change over time — always check the strata legislation and regulations that apply to your scheme, and seek professional advice where required.