Mosman Blog

417.original

A New Era for Strata

Reforms to benefit more than two million people in NSW who own, rent or manage strata will come into effect from 30/11/2016.

After an extensive public consultation over five years and 3000 submissions, over 90 amendments to the strata legislation will aim to reduce red tape, help strata communities avoid disputes and support the sector into the future.

Included in the comprehensive package will be reforms to empower strata schemes to shape their community rules, including those involving pets, smoking and parking.

The changes also improve the accountability of strata managers; allow owners and residents to use modern technology to participate and vote in their strata meetings; establish a transparent process for the collective sale and renewal of strata schemes; and introduce a simpler, clearer process for dealing with disputes.

A further reform, the building defects bond scheme, will commence on 1 July 2017. This will ensure that builders, developers and the strata community have sufficient time to prepare for the changes and comply with requirements of the Act and its supporting regulations.

To support strata communities to understand how the new laws affect them, information will be provided through an advertising and public awareness campaign.

The Act commencing on 30 November are the Strata Schemes (Management) Act 2015 and Strata Schemes (Development) Act 2015, and final Regulations will be published in in the coming weeks.

NSW Fair Trading will provide strata information seminars over the coming months, as well as working with industry bodies to assist strata professionals. More information can be found at fairtrading.nsw.gov.au

< Back

My Account Register or Sign In