Strata laws for modern Australia
It only took one person to hold out on a development proposal to prevent our strata-titled cities evolving.
But not anymore.
In the first major reform to strata laws in 50 years, the NSW Parliament has passed a Bill that will see 90-plus changes to existing laws.
From July next year it will take 75 per cent approval to terminate and renew a strata scheme – breaking the 100 per cent deadlock which has prevented much-needed renewal throughout Sydney.
These reforms were 20 years in the making, demanding great patience and persistence from the Property Council.
Hats off to Victor Dominello, NSW Minister for Innovation and Better Regulation, who has lived up to his title by championing this Bill for many months.
As the minister says, these reforms “cater for the needs of 21st century strata living”.
It’s now time for other states to follow New South Wales’ lead.
Buildings don’t last forever. Our cities don’t stand still. We need modern strata laws for modern Australian cities.