We administer the Strata Schemes Development Act 2015, which provides the legislative basis for the creation, variation and termination of strata schemes, and for dealing with strata lots and common property.
Part 10 of the Development Act sets out a process for owners of freehold strata lots to end their scheme. This strata renewal regime facilitates the upgrading of a strata block and assists in renewing urban areas where strata schemes are growing in importance.
The process allows strata owners to collectively sell or redevelop their strata complex in circumstances where not all (but at least 75%) of owners agree. There are several key stages which must be followed, with a number of significant safeguards to ensure the interests of owners, particularly those who are in dissent, are protected.
The strata renewal process includes important checks and balances to ensure fairness and transparency in the process.
For more information about the strata renewal process including relevant forms and guidelines, please follow the links to the right of this page.