Category Archives: Strata

Developer-friendly strata managers (some are a problem)

By | Strata, Strata Management, Strata Schemes, Uncategorized | No Comments

What does the term “Developer-friendly strata manager” refer to? Simply, it is the idea that a Strata Managing Agent who has a close relationship with a Developer might not fully assist their client (the Owners Corporation) to take action against the Developer or Builder. This is particularly relevant with building defects, for which there are deadlines by which time certain actions must be undertaken if legal rights are to be exercised, or retained ready to exercise if necessary. It’s important to understand that not all Strata Managing Agents that accept appontments from developers are failing to help their client Owners…

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Ready or not, here it comes – Strata Schemes Management Act to Commence 30th November 2016

By | Strata, Strata Management, Strata Reform, Strata Schemes | No Comments

30th November has been announced as the commencement date for the new Strata Schemes Management Act 2015. Draft Regulations to support the Act were exhibited and the end of April 2016 with consultation closing on 27 May 2016, but but have not been finalised. This leaves strata managers, software developers, solicitors assisting the industry, and Owners Corporations themselves very little time to prepare. Indeed, many Agency Agreements recently entered into by Owners Corporations and Strata Managing Agents will extend well beyond the transitional provisions, but had to be drafted without the benefit of finalised legislation. http://www.domain.com.au/news/start-date-for-new-nsw-strata-laws-set-but-defects-bond-on-hold-20160707-gq16ss/

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Emergency Services funding reform to reduce Strata insurance costs

By | Strata, Strata Schemes | No Comments

We are pleased to share the good news that owners in Strata Schemes stand to benefit from the move to a fairer system of funding Emergency Services, involving the removal of the Emergency Services Levy (ESL) currently applied to insurance policies and replacement with the Emergency Services Property Levy (ESPL) paid alongside Council Rates. Such a change will broaden the base of collection, to the benefit of those who currently insure their properties and therefore bear the cost avoided by those who choose not to insure. Required by legislation to insure their buildings, Strata Schemes have long been subsidising non-insurers. Although…

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Commencement of new Strata legislation deferred

By | Strata, Strata Management, Strata Reform, Strata Schemes | No Comments

The Commencement date for the Strata Schemes Management Act 2015 was initially expected to be 1 July 2016. We now understand that Commencement will not be until September 2016, at earliest. We are expecting the Regulations to the new Act to be released during March or April 2016, and hope to have more certainty about the Commencement date shortly thereafter.

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