News

December 20, 2016

New Strata Laws Effective – Market Expose

Everything owners, tenants and managers need to know


NSW Fair Trading has recently released their new list of strata laws in a neat and user friendly online resource centre. The “new era” in strata is divided up in to three easily accessible sections for owners, tenants and industry. 

For Tenants: Tenants may now have a representative on strata committees. Yourself and fellow tenants can elect a representative if at least half of the units in your block are under a lease agreement. Even though you will still need approval from the property owner, strata repair requests are now made easier with quick reference lists and streamlined submission processes.

For Owners: They’ve made it easier for owners to have renovations approved, resolve parking issues, review strata laws and renew your strata block with streamlined processes and practices.

For Industry: Professionals Transition periods for strata schemes adapting new laws have changed and new disclosure and accountability requirements for strata professionals are now in place.

For complete access to this free reference service visit the NSW Governments Strata website.  

 


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