On December 11, 2023, significant changes to the strata and community title legislation in NSW came into effect. It's crucial for residents and stakeholders in strata or community title properties to stay informed about these legal amendments arising from the Strata Legislation Amendment Act 2023.
The Bill introduces a number of amendments to the following Acts:
The Strata Schemes Development Act 2015;
Strata Schemes Management Act 2015;
The Community Land Management Act 2021; and
Community and Development Act 2021.
In this article, we highlight some of the changes:
Original Owner
Initial Appointment
Strata Managers
Strata Committees
Meetings
Voting Limits for Company Nominees and Persons Acting Under Power of Attorney
Transfers between Administration & Capital Works Fund
Works in Excess of $30,000
Special Levies Concerning Emergency Repairs
By-Laws
Pets
Books & Record
Rental Agent Obligations
Strata Renewal
Compulsory Management
These changes are crafted to elevate the governance, transparency, and operational efficiency of strata and community living. Familiarising all stakeholders with these amendments is crucial for ensuring compliance and fostering harmonious community living. Staying informed about legislative changes can be a complex task, but with Compass Strata, you have a reliable partner dedicated to keeping you abreast of evolving regulations. Our commitment to proactive communication and expertise in strata management ensures that you are well-informed about any legislative shifts, empowering you to navigate the evolving landscape of strata and community living with confidence.
A copy of the Strata Legislations Amendment Bill 2023 can be found here.
Disclaimer: The information provided in this article is for general knowledge purposes only. It is not intended as professional advice. Readers should consult relevant experts or professionals to address their specific concerns or circumstances. The accuracy and applicability of the content may vary based on individual situations, and the information is subject to change.
