This Media Release about improving the experience of the growing number of people living and working in strata communities has been provided by the Minister for Better Regulation and Innovation.
More than one million people in NSW are being invited to have their say on how laws can be changed to improve the experience of the growing number of people living and working in strata communities.
Minister for Better Regulation Kevin Anderson said community consultation was now open as a crucial part of the statutory review of both the Strata Schemes Development Act 2015 and Strata Schemes Management Act 2015.
“With the continued surge in popularity of apartment living we expect over half the population of Greater Sydney to be living in strata titled apartment towers, townhouses and blocks of flats by 2040,” Mr Anderson said.
“There are now 81,717 strata schemes registered in NSW and every year this number grows by more than 1,000 across both Sydney and regional NSW.
“It is important that the laws covering strata living stay relevant and address some of the fundamental issues that might be stopping people from fulfilling the great Australian dream of home ownership.
“The Government’s landmark 2015 reforms modernised strata living, but we know there is more to do. In particular, we know more needs to be done to ensure that apartment buildings are well maintained and remain free of building defects over their lifetime so that owners aren’t left out of pocket by tens of thousands of dollars.
“That’s why we will be seeking feedback on changes that would require owners to disclose critical information about programmed maintenance, capital works spending and defects.”
Mr Anderson said feedback was also being sought on a new digital Strata Portal that will capture mandatory information for each strata building in NSW and make it available to the regulator to ensure compliance with fire and other important safety requirements.
Submissions close Sunday, 7 March 2021.
Minister for Better Regulation and Innovation
This post appears in Strata News #438.
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This article has been republished from the author and first appeared on the NSW Government’s website.
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