The Strata Schemes Management Act 2015 (NSW) and the Strata Schemes Development Act 2015 (NSW) introduced significant changes to the management and regulation of strata schemes in New South Wales. Now, almost five years on, it’s time to review these Acts with a view to ensuring the right laws are in place to manage future developments in this vital area of real estate practice.
“Almost from the moment the new framework commenced, the REINSW Strata Management Chapter Committee have been analysing the changes,” Christopher Carey, REINSW Committee Executive, said. “They knew that the mandated statutory review would come around all too quickly and have kept a watchful eye on the impact of the reforms on day-to-day practice, continually assessing what’s working and what’s not.
“As part of this process, the Strata Management Chapter Committee decided to comprehensively review both the Strata Schemes Management Act and the Strata Schemes Development Act , and recommend changes. Drawing not only on their own collective experience, they’ve also sought input from REINSW’s wider membership.”
REINSW has used the Strata Management Chapter Committee’s work to form the basis of a preliminary submission to the NSW Government.
“Even before the official launch of the five-year review and release of the Discussion Paper, we’ve been preparing our lobbying platform,” Christopher said.
“Due to the many months of work by the Strata Management Chapter Committee, the resulting preliminary submission addresses the issues we feel are likely to be canvassed in the Discussion Paper due to be released before the end of this year. It provides the NSW Government with a detailed account of the changes that need to be made to the Strata Schemes Management Act and the Strata Schemes Development Act to ensure fair and equitable outcomes for all parties.
“This preliminary submission was provided to the NSW Government on 8 October 2020. Of course, when the Discussion Paper is released, REINSW will also compile another formal submission in response.
“Importantly, throughout this process, REINSW and the Strata Management Chapter Committee have been in regular contact with key government stakeholders, including representatives from the Real Estate and Housing Regulatory Policy Division of the NSW Department of Customer Service and also representatives from the NSW Office of the Registrar General. This collaboration has been extremely beneficial for all involved.”
To keep members in the loop, the Strata Management Chapter Committee will be releasing a series of articles in the coming weeks to explain the various issues they’ve identified, and REINSW’s responses and recommendations.
“This series of articles highlights the superb work of the Strata Management Chapter Committee,” Christopher said.
“I’d like to take this opportunity to extend a sincere thank-you to everyone involved. Your tireless efforts and dedication over many, many months has provided REINSW with the best possible foundation to lobby the NSW Government for meaningful reform in this five-year review.”
If you would like to provide feedback about any aspect of the strata management framework, please email your comments to email@example.com .