Report on the statutory review of strata laws now available
A Report on the outcome of the statutory review of the Strata Schemes Development Act 2015 and Strata Schemes Management Act 2015 has been tabled in NSW Parliament by the Hon. Kevin Anderson MP, Minister for Better Regulation and Innovation.
(https://www.haveyoursay.nsw.gov.au/63252/widgets/320220/documents/221196)
This report was informed by extensive consultation following the publication of a Discussion Paper in December 2020, which received more than 2,300 online survey responses and 230 submissions from strata residents, industry stakeholders and the broader community.
Key recommendations in the report include:
- new powers for NSW Fair Trading to order owners corporations to rectify common property defects to ensure the safety and amenity of strata buildings
- detailed minimum requirements in 10 year capital works fund plans
- changes to governance and disclosure arrangements to balance diverse interests in mixed use schemes to minimise disputes
- improvements to balance interests and provide more transparency in the strata renewal process, and which clarify the ability of the court to award costs against dissenting owners acting unreasonably
- digitising key strata records to save strata communities time, effort and money
- providing enhanced training for strata committees and streamlined mechanisms to resolve disputes.
Legislation to implement the recommendations of the review will be prepared in 2022. For more information, including to access the Report, please see the NSW Government Have Your Say website for this reform. https://www.haveyoursay.nsw.gov.au/strata-statutory-review-2020