Major Changes To Strata Laws Effective 30 November 2016


There is good news for Investors who own Strata-titled properties as new NSW Fair Trading strata laws will start on 30 November 2016.


Some of our favourite key changes include:


  • Allowing owners to adopt modern technology to conduct meetings, vote, communicate and
    administer their scheme – this is important for our interstate and international investors.


  • A simpler, clearer process for dealing with disputes – much better for dispute resolution.


  • Broadening tenant participation in meetings – some tenants are so “house-proud” and are desperate to be involved in caring for the block they live in that they can put some of our owners to shame!


  • A clearer and simpler three-tier renovations process, which waives approval for cosmetic renovations within the strata lot (for example, installing handrails for safety).


  • Measures to reduce red tape, such as simplifying financial statements for owners


A NSW Fair Trading fact sheet can be found here


NSW Fair Trading has also partnered with Strata Community Australia (SCA) and the Real Estate Institute of NSW to run a New Strata Legislation Roadshow. Sessions for owners and tenants are free. Find a session near you at the SCA NSW Strata Legislation Roadshow page as well as checking out their additional strata reforms events  –