On 1 March 2016, the NSW Parliament made sweeping amendments to legislation regulating valuers. This included amendments to the strata and community schemes legislation that managed to sneak through under the radar.
Now an owners corporation or community association is no longer required to obtain a building valuation for insurance purposes every five years.
Read the full article here – Periodic Building Insurance Evaluations
For NSW strata legal or levy collection advice please contact us here or call 02 9562 1266, we’re happy to assist.