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ARTICLE · 21 DECEMBER 2015

NSW strata reforms: collective sale and renewal process timeline

Colin Biggers & Paisley
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This article addresses the new collective sale and renewal process, a significant change in the 2015 NSW strata reforms.

AustraliaReal Estate and Construction
Gary Newton
Gary Newton
Henry Yuan
Henry Yuan

In brief - Owners will be empowered to make a collective decision about an ageing building

The NSW parliament's approval of major strata reforms includes a significant change to the collective sale and renewal process. While only 75% support is required to end a strata scheme, safeguards have been put in place to protect the interests of dissenting owners.

New strata laws to come into effect in July 2016

On the 28 October 2015, the NSW parliament approved major reforms to the state's strata title laws. Both the Strata Schemes Management Bill and Strata Schemes Development Bill, which now have passed through both the Legislative Assembly and the Legislative Council, contain around 90 changes to the current laws. The new laws are expected to come into effect in July 2016.

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