30 June is looming and this means…new strata law!

Mandatory annual reporting for NSW owners corporations is due to take effect soon. Here’s your recap on precisely what this means for owners, committee members and strata managers. 

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3 Responses

  1. Thanks Amanda!

    I believe that the New Regulation is a Waste of time and money for the people who own a Home in a Strata Scheme. I do not see Transparency or Accountability but more MISERY. I can see more Rorts no less Why does the Owners Corporation that do not know anything about disclosure gets fined?
    Why May disclose to the police…..? Should not be mandatary for them know who to contact? Why to keep it as a top secret?

    “The Secretary may disclose to the following bodies the information specified
    in clause 43A(1)(q) about a strata scheme—
    (a) NSW State Emergency Service,
    (b) Ambulance Service of New South Wales,
    (c) NSW Police Force.”

    1. I agree. It’s more regulations for strata managers and self-managed OC’s as well. I don’t see how it will make OC’s more responsible to upkeep the state of the building. I know of many old strata buildings that are in a terrible state.

  2. Thank you very much for this useful information, Amanda.
    I just wonder what this new regulation entails and how it would HONESTLY work in our scheme.
    This needs massive education, discipline as well as cooperation both on the part of the Committee and the agent. Apart from the Committee’s understanding of their responsibility as well as the agent’s administrative tasks to efficiently exercise its role, the success of this regulation to work out in our scheme does hang in the balance.
    I am afraid, fines would just be slapped on the OC left and right when this is not taken seriously.
    When you have a dysfunctional Committee, it would be hard to extract information from them, more so if the agent connives with the Committee’s rorts to champion individual vested interest unmindful of the OC as a whole.
    I submitted a motion to discuss Strata Hub in our forthcoming AGM. There was no clear mention on the notice of the AGM recently sent out that this was accepted. Instead, the agent is asking the OC to vote on its reappointment as for its management.

    The agent caters to the Committee’s decision without exercising its duty of care so as not to upset their majority vote that favours the continuous renewal of the strata agent’s management of our scheme.
    Such tactic of greasing committee members to even breach the by-laws, prolongs the life of the managing term of the agent in return.

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