It is predicted that the Australian home security market will grow by US$6.56 billion dollars by 2030, a 15.73% annual growth from 2024 to 2030*.
What is driving this growth?
This surge is driven by several factors:
- Increased crime rates are making people want to feel secure in their homes and communities.
- Technological advancements offer a wider range of affordable security options.
- The growing popularity of strata living has led to increased demand for communal security measures.
What about privacy?
While residents crave safety, privacy concerns are also on the rise.
The issue is what rights do strata lot owners and owners corporations have to install their own security? Security cameras, in particular, can create complex issues under differing legislation.
Owners corporations and residents should be mindful of their rights under the Surveillance Devices Act 2007 (NSW) to avoid committing any offence.
These two NCAT cases share some valuable lessons Strata, Owners Corporations Lot Owners and Security Cameras
Do you need a by-law?
A well-crafted CCTV by-law is essential for managing security while protecting privacy.
If you need help developing or updating your strata scheme’s CCTV by-law, our experts can assist you.
Contact us today for expert advice, we’re happy to help.
* Source: Research and Markets March 2024
Adrian Mueller I BCOM LLB FACCAL I Partner
Since 2002 Adrian has specialised almost exclusively in the area of strata law. His knowledge of, and experience in strata law is second to none. He is the youngest person to have been admitted as a Fellow of the ACSL, the peak body for strata lawyers in Australia. Profile I Linked
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