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ARTICLE · 31 MAY 2016

Better days ahead for building owners in NSW strata schemes

Corrs Chambers Westgarth
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New legislation in NSW will give strata title owners greater protection and developers may need to consider changes.

AustraliaReal Estate and Construction
Andrew Chew
Andrew Chew
Han Yong (Formerly With Corrs Chambers Westgarth)
Han Yong (Formerly With Corrs Chambers Westgarth)
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With a quarter of Sydney's Metropolitan residents now living in Strata titled properties1, the increase in high rise residential developments shows few signs of abating. New legislation, coming into effect at the end of this year, will give these owners greater protection and developers may need to consider changes in the way they do business.

The Strata Schemes Management Act 2015 (the Act) will come into operation across New South Wales in November 2016 and draft regulations are currently being circulated by NSW Fair Trading for comments2. This should offer better protection for owners of residential building apartments3. In particular, it addresses a constant bugbear - the defects in these developments.

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