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Strata Title ownership is changing next year. Are you ready?

The 4 significant changes you need to know

 

Are you ready for the new strata title laws?

Do you own a strata apartment in New South Wales? Are you purchasing off-the-plan? Strata title law is changing.

Get ready for 4 significant changes to strata laws to commence on 1 July 2016.

  1. Strata Management - Strata Manager appointments are limited to 3 year terms. They will be able to be more easily removed. Tenant representatives may attend owners meetings, but cannot vote.
     
  2. Strata By-laws - The list of model by-laws is extended to: impose a limit of 2 adults per bedroom, fines for illegal parking, better noise control, to prohibit smoke drift from cigarettes and barbecues on balconies, and to allow small pets.
     
  3. Building defects, renovations and maintenance - For new strata buildings, a maintenance schedule and a obtaining a building defects inspection report are to be on the agenda at the first owners meeting. For all strata buildings, there is a list of cosmetic works which can be carried out by owners without approval, and a list of renovations which require approval by the owners corporation.
     
  4. Redevelopment - If 75% of the owners agree, they can override the wishes of the other 25% and redevelop or sell the building. There is a process that must be followed including having a renewal or sale plan approved by the Land and Environment Court.

For more information see What's in store with the new strata titles laws in NSW?

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