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good day to you my name is Graham Paddock and today Im going to talk to you about the duration and termination of managing agency contracts people often ask particularly when theyre unhappy with service theyre getting from a managing agent or the way theyve been treated by one how can the body corporate terminate the managing agents contract does the managing agent have to be in bdocHub of the contract can the trustees do this or must it be the owners and what if the contract provides for penalties will the prescribed management rules deal with these issues increase Cloud management room 28 7 and 8. you need to study the contract get a copy of it see when it was entered into when the studio expire and what it provides in regard to cancellation but whatever the contract provides there are four basic legal principles extracted from prescribed management rule 28 7 and 8. number one is in regard to the maximum duration a management agreements cannot continue for more than three years a
