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New Minister Called on to Support Strata

Sunday, 03rd May 2015

Sydney is the strata capital of Australia.

New South Wales' $200 billion strata industry is hopeful the arrival of a new minister in State Parliament will help spur needed legislation reform for the state's fastest growing property sector.

Sydney is the strata capital of Australia with NSW government websites showing that 75 per cent of residences within the City of Sydney are apartments – more than five times the national average.

The sector wants legislation reform in place so that individual bodies corporate could make their own decisions on a range of issues including illegal parking, renovations and many more.

The Hon. Victor Dominello who has been appointed as the new minister for Innovation and Better Regulation, has this week met with executives from the peak industry body for Strata and Community Title Management in New South Wales, to continue the push for sector improvement.

“Upon meeting with Minister Dominello yesterday, we presented a detailed report on many issues for his consideration,” Strata Community Australia (NSW) Vice President, Daniel Linders said today.

“Great progress in the strata sector was made when the Coalition was elected to govern NSW in 2011. A review was announced, consultation undertaken, papers and submissions drafted but the progress of the reforms have stalled over the past 12 months.

“The current status quo sees an excess of red tape within legislation governing strata title properties owned, managed or occupied by our members.

“What this effectively means is that strata management across the state is limited in efficiently self regulating and applying tailored policies to its own buildings, to suit stakeholder needs,” Mr Linders said.

Strata Community Australia (NSW) says the strata sector has been waiting years for the changes and fully expects Minister Dominello to deliver.

 “The minister assured us that they will be working very closely with SCA (NSW) over the next nine months. An exposure draft will be released to the public in the next couple of months, a request for submissions, then the Bill will be finalised and into Parliament at the end of June and introduced in September/October,” Mr Linders said.

The Bill is anticipated to be operational around July 2016 however there is a need to allow for a six month transitional period.

“Minister Dominello added that despite his new appointment, he is quickly being brought up to speed on the issues that the strata industry faces and will endeavour to listen to strata needs,” Mr Linders said.

In the interim, SCA (NSW) will work closely with the minister’s office ahead of the drafted Bill’s public release in the coming months.

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