Strata laws in NSW have been modernised to suit the way we live, today and beyond. Getting renovations approved is now simpler and there are online options for meetings and voting. Your strata community will need to review its rules (called by-laws) and consider any updates, such as the decision to allow pets and on what terms. There are new model by-laws to help with this process.
Whether you own or live in a strata property, find out how else the new laws affect you.
To modernise strata laws, more than 90 law changes were passed by the NSW Parliament in 2015 and will start on 30 November 2016. This is except for the building defect bond scheme reforms (Part 11 of the Strata Schemes Management Act 2015), starting on 1 July 2017. The laws will be administered by NSW Fair Trading with NSW Land and Property Information (LPI). For information on the changes, refer to NSW Fair Trading Major changes to strata laws page. NSW has more than 75,000 strata schemes worth $350 billion in assets. The reforms will affect some 2 million industry professionals, strata owners, and residents in strata-titled townhouses and units.
For more details, please visit NSW Government Fair Trading website: http://stratalaws.nsw.gov.au/ or http://www.fairtrading.nsw.gov.au/sites/ftw/About_us/Have_your_say/Reform_of_strata_laws.page