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ARTICLE · 29 NOVEMBER 2015

Residential focus - 25 November 2015

Holding Redlich
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Holding Redlich

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The NSW Parliament has passed the Strata Scheme Management Bill 2015 and Strata Scheme Development Bill 2015.

AustraliaReal Estate and Construction
Jack O’Donnell (Formerly With Holding Redlich)
Jack O’Donnell (Formerly With Holding Redlich)
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Reform of strata laws – Bills passed

In September, we reported on what were then proposed reforms to the NSW strata laws that were likely to affect close to 2 million industry professionals, strata owners, and residents in strata properties across NSW, as well as developers.

Since then, the NSW Parliament has passed the Strata Scheme Management Bill 2015 and Strata Scheme Development Bill 2015. The Strata Schemes Management Act 2015 (NSW) and Strata Schemes Development Act 2015 (NSW) confirm around 90 changes to the existing laws, on issues including collective sale, renovations, proxy farming, defects and parking. It is anticipated that the new laws will commence 1 July 2016 following the development of new regulations and a comprehensive public awareness campaign to inform individuals of their new rights and responsibilities.

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