New Strata Laws

New Strata Laws

On 30 November 2016 new laws (the Strata Schemes Development Act 2015 and the Strata Schemes Management Act 2015) affecting strata schemes in NSW will commence. Some of the changes include:

1. The executive committee will be known as the strata committee;
2. The sinking fund will be known as the capital works fund;
3. The owners corporation can defer its obligation to maintain and repair common property if it is has taken action against another party who caused the damage until the completion of that action provided safety is not affected;
4. The owners corporation can arrange for local Council parking officers to come onto common property and fine people for parking contrary to signs and notices;
5. Owners will be allowed to make cosmetic changes to their lots without approval such as installing picture hooks, painting, laying carpet, installing built-in wardrobes or blinds and curtains;
6. Owners will be allowed to carry out minor renovations to their lots with the approval of the owners corporation at a general meeting but without the need for a special resolution. Minor renovations will include renovating a kitchen, installing wood or other hard floors, installing wiring or cabling and reconfiguring walls; and
7. A strata renewal process has been introduced by which 75% of lot owners can approve a strata renewal plan for redevelopment of the strata parcel. The plan has to be approved by the Land and Environment Court.