TVW July 3 RE by Tweed Valley Weekly

Real Estate

Strata title reforms from July 1

By Jo Kennett

A RAFT of sweeping reforms kicked in on Tuesday, July 1, for NSW’s 87,000 strata title owners and residents, with developers of strata title properties also coming under tighter regulations.

The changes are designed to improve protections for owners, enhance the accountability of strata management services, and make strata living easier for residents, including by making it easier for residents to do minor renovations.

The government says that strata title owners in most apartments, townhouses, villas and duplexes, will benefit from the reforms which ban unfair contract terms in strata or building management, cleaning, and gardening contracts.

This includes terms which allow one party but not the other to end or change the terms of the contracts.

Owners will be given more of a say in how their scheme is run, with contracts for the supply of electricity through an embedded network now ending at the first Annual General Meeting (AGM) or three years from the start date of

the agreement – instead of no limit applying under the old laws.

The new laws will also make it easier for owners with disabilities to install accessibility infrastructure, as well as keep assistance animals.

There will also be an increased focus on sustainability measures by requiring owners to consider the annual energy and water consumption and expenditure for the building.

Under the new reforms, the penalty for failing to provide important information about the construction of the building, including planning approvals, compliance certificates, fire safety certificates, insurance policies, and maintenance schedules ahead of the AGM, will remain at $11,000, but developers will also incur a $220 per day penalty until all the required documents are produced.

There will also be increased penalties from $1,100 to $11,000 for developers not holding an AGM.

The reforms will cut down unnecessary delays to minor renovations by requiring, subject to the rules of the scheme itself, strata committees to decide a lot owner’s request for minor renovations within

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Minister for Better Regulation and Fair Trading Anoulack Chanthivong said protection for owners living in strata communities was “one of the top priorities of the Minns government.”

“The building of strata communities is a significant part of the NSW Government’s plan to increase housing in NSW with more than 50 per cent of Sydney’s population predicted to live in strata by 2040.

“These changes will make it fairer for residents living in strata communities by banning unfair contract terms in strata.”

For more information on the reforms, please visit www. nsw.gov.au/housing-andconstruction/strata/servingon-a-committee/strata-laws

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