Strata To The Rescue

Strata To The RescueThe proposed reforms to WA’s strata title laws cannot come quick enough to help rescue Perth’s declining rate of infill development as well as supporting a raft of urban renewal projects that are underway or proposed.The Property Council of Australia has warmly welcomed the release by Landgate of the WA Strata Titles Act Reform Consultation Paper. Key reforms include:The introduction of community titles;The introduction of leasehold strata schemes;Permitting staged strata development;Termination of old schemes; andImproved management arrangements for strata schemes.Community titles will encourage larger scale precinct-style housing development to occur in WA, similar to other states. This includes more mixed use development around suburban centres and strategic infrastructure investments like train stations.The Consultation Paper also proposes, for the first time in WA a framework for termination of old strata schemes with less than 100% support of unit holders, in schemes of 10 or more lots that are more than 15 years old. This reform is very important for the renewal of old strata complexes and it shows that policy makers are thinking about the future. Interestingly, the NT parliament will consider legislation to do the same this month. To help with the Property Council’s response to the Consultation Paper and to support the strata reforms, please call Lino Iacomella 0417 1974.