Question: Where will the financial responsibility lie for the fibre optic upgrade to individual units, assuming a majority of the owners corporation want direct fibre to their home?
Answer: When it comes to the fibre optic upgrade, there is no hard and fast rule.
There is no hard and fast rule, however, before considering costing, your building will need to consent to the NBN. Then, your building will decide how it will be financed.
Clearly, economies of scale dictate that the individual access will be cheaper if organised and paid for by the Owners Corporation. Problems could arise where individual lots do not wish to subscribe to the NBN.
You and/or your building will need legal advice to implement the NBN and create relevant by-laws.
For the full question and our detailed response, visit the original publication at Look Up Strata. Do you have a question relating to your property or development? Contact us!
Please note that this article is provided for information purposes only and is not a substitute for professional legal advice.