True or False? New Strata Law Question #4

artistic-arts-blue-business-159659As we count down to the 30th of November, we wanted to test your knowledge of the new strata legislation through a number of quiz questions. Over the coming 2 weeks we will publish 5 questions and answers. Why not have a go?

Today our fourth question:

True or False? Current contracts with strata managers or building managers end on 30 November.

Answer: False! If a strata manager was appointed before 30 November 2016, their term ends whichever is the later: 3 years after their term commenced, or 6 months from the start of the new laws.

For building managers, contracts in force before 30 November 2016 remain in place until 10 years after the reforms start (unless the contract is for a shorter period, then that will apply).

 

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