The strata law reforms come into effect today. How prepared are you?
The key changes that will affect property managers are:
• Making it easier for owners to complete cosmetic and minor renovations;
• Making it easier to hold meetings and vote on decisions using modern forms of communication;
• New options for addressing issues of parking, pets and smoke drift; and
• Ensuring tenants can play a valuable role in the life of their strata scheme.
A strata hotline has been established for PMs, tenants and investors who have queries about the changes and how they will affect them.
NSW Fair Trading Commissioner Rod Stowe expects the changes will “improve strata living for over two million people who own, live or manage strata schemes across the state”.
“With major updates made to the existing strata laws, our contact centre officers who specialise in strata law have been familiarising themselves with the changes to ensure that they are equipped to provide the right assistance and advice,” Mr Stowe said.
Property managers should familiarise themselves with the new laws if they haven’t already done so and understand how they will affect PMs and tenants.
PMs should also be ready to field questions from landlords.