Allison Benson from Kerin Benson Lawyers has written a great article on how the size of your strata scheme influences legal requirements the Act sets for your Strata Scheme.
Obviously, the larger the scheme the more lots there are to help in paying for the administration, maintenance and upkeep of the property. However, in addition there are differences on how certain sized schemes are currently treated under both the Strata Schemes Management Act 1996 (NSW) and will be treated under the Strata Schemes Management Act 2015 (NSW) when it comes into effect. Both Acts distinguish between 2 lot schemes (sometimes called two packs), schemes with between 3 to 100 lots and schemes with more than 100 lots (not including utility lots or parking lots) which are known as large schemes.
The below table provides a handy summary of these different requirements depending on the size of your strata plan.
