Reforms to the state’s strata title laws reflect contemporary strata living and cater for future demand.
The reforms include more than 90 changes to the laws and affect 1.2 million people living in over 75,000 strata schemes across NSW.
Key changes include:
- providing a flexible and fair mechanism for collective sale and renewal
- making it easier for owners to complete cosmetic and minor renovations
- modernising rules to help prevent proxy farming
- new provisions addressing the perennial issues of parking, pets and smoke drift
- introducing a defects bond (to come into effect July 2017) to fix building defects early in new developments.
Minister for Innovation and Better Regulation Victor Dominello said by 2040 about half of people in NSW would either be living or working in strata.
"We need modern and flexible laws that reflect 21st century strata living,” Mr Dominello said.
The reforms follow extensive public consultation over a five-year period, with more than 3000 submissions received from the public and stakeholder groups.
Learn more about the new laws and how they affect your strata or call the Strata Hotline on 1800 214 023.