At the point of writing this article, we are approximately 2 weeks away from adopting a new and improved version of the Strata Titles Act. A read through the new legislation suggests that we are about to embrace an Act that is the equivalent to ‘Miss Congeniality’. It has been taken away, stripped back and given a good old-fashioned makeover – to produce a shinier, more improved version of its former self.
However, one should not be fooled by the new update. At a glance it’s been completely renumbered and appears to be 25 pages longer. Already Strata Managers are scrambling to locate section 35 (duties of the Strata Company), ensure that they are compliant and wrap their head’s around what is a ‘designated’ strata company.
That all said, Landgate is touting the amendments to be clearer and fairer and have included:
- Better buyer information
- Efficient dispute resolution
- Improvements to strata management
- A fairer process for scheme termination
- Leasehold strata
- Development, subdivision and planning changes
The days of free-wheeling it is quickly coming to a close and the requirement of having a qualified Strata Manager is no longer a luxury but an absolute necessity.
Welcome to the amended Strata Titles Act!
Author: Andrew Sherwood is the Strata Consultant for First National Real Estate Karratha and has over 15 years training in the area of Strata Management.
What to know more… email strata@kfnr.com.au