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Altered arrangements for convening

The provisions allowing electronic convening and voting at meetings, introduced in response to the COVID-19 pandemic, should be made permanent and not repealed on 13 May 2021.

26/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

26/02/2021 12:00:00 AM26/02/2021 11:05:03 AM

Pre-meeting electronic voting for elections

Clause 14 of the Strata Schemes Management Regulation 2016 (NSW) should be amended to make it clear that pre-meeting electronic voting does not extend to elections.

23/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

23/02/2021 12:00:00 AM23/02/2021 9:20:22 AM

Quorum

The provisions regarding the quorum at a meeting need to be redrafted, so that it is clear, particularly in the case of small strata schemes, what happens if there’s not a quorum.

19/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

19/02/2021 12:00:00 AM19/02/2021 9:08:35 AM

Items requiring statutory warranty

Further guidance needs to be provided regarding the need to include an item on the Annual General Meeting agenda to consider building defects and rectification where warranty periods under the Home Building Act 1989 (NSW) apply.

17/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

17/02/2021 12:00:00 AM19/02/2021 9:25:20 AM

Record keeping

The legislation should be amended to allow for the better maintenance of strata records, including electronic storage and back-up, as well as a requirement to maintain an overall index of records.

15/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

15/02/2021 12:00:00 AM19/02/2021 9:24:23 AM

Insurance valuations

The requirement for an Owners’ Corporation to obtain a building insurance valuation every five years should be reintroduced and amendments made to remove reinstatement from the valuation exercise.

12/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

12/02/2021 12:00:00 AM12/02/2021 2:29:41 PM

Window safety devices

The legislation needs to clarify who is responsible for the ongoing maintenance of window safety devices and address the many practical issues that are currently causing confusion.

11/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

11/02/2021 12:00:00 AM19/02/2021 9:18:53 AM

Minor renovations by owners

There should be a statutory requirement to register minor renovations to common property carried out by lot owners.

09/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

9/02/2021 12:00:00 AM19/02/2021 9:17:13 AM

Affixing Owners Corporation seal

The requirement to affix the seal of the Owners’ Corporation to instruments and documents should be repealed.

03/02/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

3/02/2021 12:00:00 AM19/02/2021 9:16:28 AM

Interest on levies

Interest should start to accrue on levies where they have not been “received” into the strata scheme’s bank account by the date they are due and payable.

15/01/2021 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

15/01/2021 12:00:00 AM15/01/2021 11:09:41 AM

30-day payment for levies

The 30-day payment period for special levies raised to fund emergency repairs should be reduced.

21/12/2020 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

21/12/2020 12:00:00 AM21/12/2020 5:30:56 PM

Initial levies set by developers

An independent expert should be required to assess and sign off on the levies that are initially set by a developer.

16/12/2020 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

16/12/2020 12:00:00 AM22/12/2020 3:55:49 PM

Capital works fund

The matters that need to be included in the 10-year capital works fund plan should be further clarified, including the annual savings required to meet anticipated expenditure.

11/12/2020 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

11/12/2020 12:00:00 AM22/12/2020 3:56:26 PM

Delegated functions and gifts

Strata managers should not be held in breach where the Owners’ Corporation refuses to provide funds for necessary repairs and maintenance, and the definition of “gift” should be clarified.

04/12/2020 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

4/12/2020 12:00:00 AM22/12/2020 3:57:25 PM

Recording exercise of functions

The “records” that a strata manager needs to keep and provide to the Owners’ Corporation should be precisely defined.

01/12/2020 | Members and non-members can view this content. You will need to create an account or sign in to view this content.

1/12/2020 12:00:00 AM22/12/2020 4:00:14 PM
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Budget bounces back because of property

MEDIA RELEASE: With Budget figures showing stamp duty from property transactions has contributed over $9 billion to the NSW economy, it’s time for Government to work cooperatively with an industry that’s officially the state’s biggest revenue source.

22/06/2021

22/06/2021 12:00:00 AM22/06/2021 4:55:36 PM

Overseas students return to boost rental market but recovery could be slow

A pilot program to allow a limited number of international students to return to Sydney has been welcomed by the REINSW as critical for the rental market recovery.

18/06/2021

18/06/2021 12:00:00 AM18/06/2021 11:43:42 AM

Sydney’s vacancy rate shows positivity for areas hit hardest by pandemic

MEDIA RELEASE: The rental market in Sydney’s Inner Ring suburbs recorded its best performance since the start of the COVID-19, with vacancy rates falling to 3.3 percent last month.

17/06/2021

17/06/2021 12:00:00 AM17/06/2021 12:18:15 PM

REINSW supports property sector overhaul

With less than 5 days to go now, REINSW is urging the NSW Parliament to pass the Property Services Council Bill 2021 to help prevent real estate related disputes and deliver better consumer outcomes.

17/06/2021

17/06/2021 12:00:00 AM17/06/2021 11:39:32 AM

How the property market will warm vendor’s hearts this winter

Winter has long been seen as the least popular time to sell a home, but strong competition, lack of stock and low interest rates are tipped to keep up current momentum throughout the cooler months.

11/06/2021

11/06/2021 12:00:00 AM11/06/2021 11:00:42 AM

House prices increase at the highest quarterly rate in a decade

MEDIA RELEASE: The weighted average capital city median price for both houses and other dwellings has increased at the highest rate in a decade, the latest Real Estate Institute of Australia's Real Estate Market Facts report has found.

09/06/2021

9/06/2021 12:00:00 AM9/06/2021 3:52:45 PM

Overall housing and rental affordability declines

REIA MEDIA RELEASE: Housing affordability improved in New South Wales and South Australia, remained steady in Western Australia and the Australian Capital Territory but declined in Victoria, Queensland, Tasmania and the Northern Territory.

08/06/2021

8/06/2021 12:00:00 AM9/06/2021 8:34:03 AM

Q & A - Sparkling success

From a young age, Simone Luxford, Director at Essential Property Wealth, was intrigued with how to create wealth from property and has gone on to build her own successful property portfolio.

04/06/2021

4/06/2021 12:00:00 AM4/06/2021 11:20:24 AM

Strata in the spotlight

Five years after landmark reforms were introduced, the strata framework in New South Wales is once again under review. Here’s how REINSW has responded to the NSW Government’s call for input.

03/06/2021

3/06/2021 12:00:00 AM3/06/2021 10:04:55 AM

Straight talking boy from the bush

With well in excess of 5000 days under his belt as REINSW’s Chief Executive Officer, Tim McKibbin is a formidable force. Here we look at the man who is leading the real estate profession into the next decade with passion and gusto.

02/06/2021

2/06/2021 12:00:00 AM4/06/2021 2:45:24 PM

Real time benefits for lodging rental bonds electronically

Lodging rental bonds online has improved the efficiency of settling funds making it easier for both agents and tenants, according to NSW Fair Trading.

01/06/2021

1/06/2021 12:00:00 AM17/06/2021 10:46:14 AM

We need a dedicated Property Services Commissioner for NSW: Help us to help you now!

For the past 10 years, REINSW has relentlessly lobbied Government to remove our Industry from NSW Fair Trading and establish a dedicated Property Services Commissioner instead. We need your help to get the message to your local MPs without delay.

31/05/2021

31/05/2021 12:00:00 AM31/05/2021 10:06:40 AM

Now’s the time for a standard retail lease

In a submission to the Office of the NSW Small Business Commissioner, REINSW has proposed the introduction of a standard retail lease as a “natural evolution” of the Retail Leases Act 1994 (NSW).

28/05/2021

28/05/2021 12:00:00 AM28/05/2021 12:07:48 PM

HELPLINE Q&A: Can a tenant carry out changes to the rental premises?

Yes, a tenant can make certain changes of a “minor nature” to the premises.

25/05/2021

25/05/2021 12:00:00 AM25/05/2021 2:51:07 PM

On the chopping block: why fee cutting hurts everyone

Commission charges vary across NSW with Sydney already home to the lowest fees due to the sheer number of agents on the ground.

20/05/2021

20/05/2021 12:00:00 AM25/05/2021 2:38:47 PM