The NSW Government recently introduced the Strata Managing Agents Legislation Amendment Act 2024. This legislation, implemented in stages starting 8 November 2024, aims to increase transparency and accountability, giving strata property owners and committee members a clearer view of their strata managers’ practices and potential conflicts of interest. Key Dates and What to Expect The…
Question: The holiday season is here, and many owners will be offering their apartments as airbnb term rentals. What are rules and regulations governing short term rentals in strata schemes? Please note that Owners Corporations can adopt by-laws that limit short-term rental accommodation in their strata scheme, by banning it in lots that are not the host’s principal…
Question: We have discussed putting up some foyer Christmas decorations. Some residents have voiced their concerns about strata funds paying for the cost of acquiring the seasonal decorations. Our strata has an uninteresting entry foyer that would benefit from some visual enhancement. Hanging some artwork on the blank walls would make both residents and visitors…
1. Noisy Neighbours The commonest complaint reported to our Strata Managers is in relation to noise. Noise such as loud music, loud parties, stomping on floorboards, noisy appliances/tools cause the most issues. Communal living in strata requires consideration of your neighbours. For this reason, by-laws usually regulate excessive noise and there are “nuisance” provisions in…
BUILDING REFORM GATHERS MOMENTUM-NEW INSURANCE FOR DEFECTS Building industry reform is now gathering momentum with the introduction of a new insurance product called Latent Defects insurance (LDI). Previously there was no insurance for structural defects with home buyers in the apartment sector. This insurance is not retrospective and applies to only new projects where the…
Question: A resident has exclusive use of the courtyard to his property. There is a large tree that is dying within the courtyard. The by-law created states that it is the owners responsibility to “maintain” the area but the tree is not noted on the strata plan or in the by-law. The owners have received…
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Premium Strata is Sydney’s only Diamond-Class strata management agency. Located in Mascot, but servicing the entire Sydney Metropolitan area, our unique service features provide a comprehensive solution to the needs of both strata and community living.
