NSW Fair Trading recently announced the commencement date for the new Strata Schemes Management Act 2015 which will come into effect on 30 November 2016.
A key challenge for strata managers, tenants and owners to ensure they’re across the 90 odd changes, bringing strata into the 21st century.
However, not so for the new building defect bond scheme which will commence on 1 July 2017, allowing for builders, developers and the strata community time to prepare for, and comply with the changes.
The reforms will benefit more than two million people in NSW who manage, own or live in strata.
The final details of the new laws will be published in the coming weeks.
For more information on the new laws visit NSW Government Fair Trading
For NSW strata legal or levy collection advice please contact us here or call 02 9562 1266, we’re happy to assist.