On 30 November 2016, new strata laws in New South Wales came into effect to fit the reality of living in a strata townhouse or apartment today.
Currently, more than a quarter of the New South Wales population lives in, owns or manages strata. Some key changes include:
- The need for owners to review by-laws (strata community laws) within twelve (12) months, which can be customised to suit their lifestyle – such as whether to allow owners to keep a pet by giving notice to the owners corporation.
- A process for the collective sale and renewal of a strata scheme.
- A simpler, clearer process for dealing with disputes.
- Broadening tenant participation in meetings.
- A new option to manage unauthorised parking through a commercial agreement between a local council and a strata scheme.
- A clearer and simpler three-tier renovations process, which waives approval for cosmetic renovations within the strata lot.