Strata Management News


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.

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Strata by-laws may be ‘admin nightmare’ but tenants need to know building rules

Property managers who fail to supply tenants with a building’s strata by-laws, are risking a hefty fine – even if they are not at fault for the breach.

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Uniting the industry

Meet Peter Matthews who was announced at the REINSW Annual General Meeting in November 2020, as the President Elect for the next 12 months.

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REINSW is lobbying for mandatory RCDs to be rolled out across NSW

REINSW has been working with Government on improving electrical safety in all NSW properties due to overall concerns of statistics of electrical fires within NSW households.

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convening and voting at meetings, introduced in response to the COVID-19 pandemic, should be made permanent and not repealed on 13 May 2021.

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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.

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Combustible cladding: interest-free loans to speed up removal from NSW apartment buildings

Interest-free 10-year loans have been welcomed to fast-track the removal of high-risk combustible cladding from apartment buildings across NSW.

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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.

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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.

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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.

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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.

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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.

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Minor renovations by owners

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

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Your CPD obligations

Continuing Professional Development has changed and all agents need to understand what their obligations are in accordance with their classification in the licensing structure.

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WIRE 2021 - Meet our keynote speaker Manal al-Sharif

The REINSW Women in Real Estate Conference (WIRE) is returning on 10 March 2021, with registrations open now.

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Affixing Owners Corporation seal

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

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New year, new optimism

2020 was a year like no other. The impact of the COVID-19 pandemic was felt across the nation and the real estate industry in New South Wales was certainly not immune. There were challenges and we had to adapt quickly.

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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.

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Your REI Forms Live questions answered

REINSW members across the state have come to rely upon the industry’s leading online agreements and forms product – REI Forms Live.

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The importance of record keeping

Good record keeping is the backbone to any successful real estate business. Industry insiders are quick to point out there are no excuses for an unprofessional paper trail - even if today’s filing cabinets are all digital.

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