New building bond and building defect laws commence today, 1 July 2020.
The new laws are part of the NSW Government’s promise to “get tough” on building defects and form part of a suite of new laws that have recently been introduced to combat the spate of poorly built strata buildings.
These new laws will strengthen the rights of owners corporations to make claims against builders, developers and other to have defects repaired or obtain compensation to cover the cost of repairing defects.
That Act introduces new laws with respect to the rectification of building defects in new strata buildings. In this article we take a look at those new laws:
- The New Laws and the Buildings They Apply to
- Changing Due Dates for Payment of Building Bonds
- Consequences for Failing to Provide a Building Bond and Increased Penalties
- Offences for Developers Providing False/Misleading Information
- Using Building Bonds to Pay Other Costs
- Extending the Time Frame for Building Bond Claims
- Cancelling a Building Bond
- Recovering of the Building Bond from Developers
- Investigation and Enforcement Powers
- Protection of Building Inspectors from Personal Liability
- Forcing Developers to Provide Information to Inspectors
Here we outline the new laws New Building Bond and Defect Laws.
For NSW strata legal, building defects and levy collection advice please contact us here or call 02 9562 1266, we’re happy to assist.