059. The Good, Bad And Ugly Financial Reforms For NSW Strata Buildings – With Joel Russell Of Kelly + Partners
This week, I chat in depth with Joel Russell of Kelly & Partners about the key legislative reforms impacting strata buildings and managers when it comes to financial reporting. There are some great tips here for buildings and managers looking to get on top of these important changes. Links Mentioned: Get the transcript here! www.yourstrataproperty.com.au…
048. In Conversation with Reena Van Aalst – Overly Eager Agents and Extended By-law Registration Periods
This week, I am “in conversation” with Reena Van Aalst once again. Reena gives us the inside scoop on what some managers are going to get their buildings signed up to new agency agreements before 30 May 2017. I share a win for a long-suffering building, whose committee was able to stay strong in the…
Owners corporations engaging lawyers under the new NSW law
Until 30 November 2016, owners corporations in NSW could not engage a lawyer or commence any legal action unless the engagement and the legal action was approved at a general meeting of the owners. There was an exception to that requirement if the lawyer’s costs were quoted at less than $12,500 or $1,000 per lot…
Strata levy recovery: the requirement for expenses to be reasonable, but not proportionate
The NSW Supreme Court has reminded us of the requirement for section 80 levy recovery expenses to be ‘reasonably incurred’ and ‘reasonable in amount’. If there is any doubt, costs will be referred for assessment. IIB Australia Pty Ltd v Owners Strata Plan 76024 (No 2) [2015] NSWSC 929 (16 July 2015) was an appeal from a decision…
Failing to be clear is fatal in litigation
In APX Projects Pty Limited v The Owners Strata Plan No. 64025, a lot owner attempted to:- argue that a large payment made to settle debt recovery proceedings should have been allocated to sinking fund levies rather than outstanding legal fees; and bring an action against the treasurer, on behalf of the owners corporation. The owner failed…
Court of Appeal finds strata schemes may restrospectively approve legal action
December 2014 saw two decisions of the NSW Court of Appeal confirm the effect of section 80D of the Strata Schemes Management Act. This is the section that requires legal action to be approved by the general meeting if the reasonably estimated costs of taking that action exceed the amounts stipulated in the Regulation (currently $1000 per lot or $12,500…
Appealing to the Tribunal? Don’t miss the deadline
Amended provisions in the Strata Schemes Management Act which came into effect 1 January 2014 were recently put to the test by Lawyers Chambers before the NSW Civil and Administrative Tribunal (“NCAT”). In the case of Malcolm Patrick and Margarita Patrick v The Owners-Strata Plan No 9079 [2014] NSWCATCD 232 (2 December 2014), the NCAT accepted our argument that it…