YES! Before buying a strata lot you should DEFINITELY request a strata report. Although the property owner has disclosed information about the lot itself as required in the contract, the contract doesn’t require disclosure of important information about the common property. Financial and managerial information about the Owners Corporation and common property including current funds, […]
Read MoreNew Strata Law legislation and associated regulations became effective in NSW on 30 November 2016. All Strata Schemes are affected in one way or another. If you are a tenant or owner you should spend some time reading about the changes. NSW Fair Trading has compiled some easy to read material including dedicated websites and other […]
Read MoreCurrently more than a quarter of NSW population lives, owns or manages strata. To modernise strata laws in New South Wales, the New South Wales Fair Trading has recently announced that the new Strata Schemes Management Act 2015 (NSW) (Act) will come into effect on 30 November 2016. The Act will replace the existing Strata […]
Read MoreTwo-lot strata schemes face their own unique challenges in contrast to larger strata schemes. This is because two-lot strata schemes only involve two owners whereas larger strata schemes could involve 10, 20, 50 or over 100 lot owners in a particular strata scheme. For this reason, special provisions apply to living in a two-lot strata […]
Read MoreSections 262, 263 and 264 of the Strata Schemes Management Act sets out the rules of service on and by Owners Corporation (or other persons) respectively. As always you should closely adhere to the rules of service to ensure any application or notice you file isn’t ‘thrown out’ because it wasn’t served properly. Section 76 of the Interpretation Act […]
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