How will changes to strata affect you?

Business News | 25 Nov, 2021 |

Since their inception, strata have grown, changed and evolved into complex entities that orbit the establishment of living communities throughout the country. This expansion is evidenced by the formation of an entire industry whose purpose lies specifically in serving the needs of strata schemes everywhere.

One of the primary complexities of strata lies in governance. The key element that cemented the validity of strata was the ratification of strata legislation by the NSW Parliament in 1961. Since then, every state has followed suit and presented its own laws to govern local strata. As a result, there is now a system that requires the constant updating of these laws. However, while there is some progress where the establishment of amendments seems to be in line with the shifting nature of the industry as a whole, it is not always easy for the relevant stakeholders to keep up.

That is why there was an online forum where state leaders and apartment owners were bought together to discuss recent legislative changes and how they will affect Owners’ Corporations throughout the country.

Here is an overview, taken from 10-minute video presentations, of what is happening in each state. Feel free to scroll directly to your state for more information:

New South Wales (NSW)

State Manager Emily Doherty informs clients of the push to raise professional standards in strata, including:

• Spearheading a collaboration between the NSW Government and Strata Community Association (NSW).

• The creation of a new Code of Ethics.

• A professional Standards Scheme.

• Professional standards distinction.

To listen to Emily’s full presentation, then click here.

Victoria

Other clients in Victoria listen to Richard Eastwood, an Executive General Manager, as he presents the Owners Corporation Act 2006. In his presentation, he covers:

• Rules and litigation.

• Financials, accounting and auditing.

• Tier system.

• Abandoned goods.

Follow this link to hear Richard’s presentation and learn more on the amendments.

Queensland

For owners and residents in Queensland, State Manager Adam Stankevicius touches on:

• Minimum housing standards.

• Pets and rental prospects.

• Proposed Laws to trigger rental reform and how it may impact committee members, investors and owners alike.

Click here to watch Adam’s presentation for the full details.

South Australia

Senior Community Manager and former State Manager Adrian Roach gives a presentation that includes updates covering the industry, including:

• Recent strata law amendments.

• Contributions made by the Strata Community Association (SCA).

• South Australian Strata and Community Titles Acts.

• Desired changes that benefit owners.

If you would like to watch Adrian’s presentation, then you can find it here.

In addition to the presentations above, the Australian Apartment Advocacy (AAA), who co-sponsored the forums, also launched the results of the 2021 Apartment Living Surveys. Their findings demonstrated referral levels, COVID’s impact, anticipated future purchases by owners and owner satisfaction based on 3,600 responses. Samantha Reece, AAA Director, unveiled the findings for each state in a separate presentation. To obtain a copy, you may get in touch with Samantha at [email protected].

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