NSW Strata Law Reforms 2025: Key Changes and What They Mean for You
Big news, NSW! The government is rolling out some major changes to strata laws that will take effect from mid-2025. These updates are all about improving how things are run, making decisions easier, and creating a fairer, greener environment for everyone involved. Whether you’re an owner, committee member, or manager, it’s time to get in the know and make sure you’re ready for the new rules!
What’s Changing in 2025? Let’s Break it Down!
1.More Responsibilities for Strata Committees
Strata committee members will now have a clear set of duties to follow, including:
- Acting with care and caution
- Avoiding any conflicts of interest
- Keeping info private and secure
- Making sure their actions don’t harm owners.
But wait, there’s more! Committee members will also have to do some mandatory training to ensure they understand these new duties. So, if you’re serving on a strata committee, make sure to stay on top of your game and keep everything running smoothly (no penalties allowed!).
2. Strata and Building Managers: Time for Extra Oversight
Get ready for more transparency! The new rules require strata managers to:
- Give owners a report every six months detailing what’s been happening in the building.
- Ensure building managers are putting the owners’ interests first, or face penalties if they don’t.
3. Strata Gets Greener and More Accessible
The new changes support a more sustainable and accessible lifestyle! For example:
- You can’t block cool new green initiatives (like solar panels or EV chargers) just because they don’t look pretty.
- It’s now easier to approve accessibility upgrades, needing just a simple majority vote!
4. Helping Owners in Financial Struggles
We know times can be tough, and these changes have you covered:
- Levy notices will now include info about financial counselling services.
- Owners’ corporations must offer payment plans before they start chasing after debts.
5. Fairer Contracts and Maintenance
Say goodbye to unfair contract terms! All strata agreements will now follow Australian Consumer Law, and the NSW Fair Trading Commissioner will have the power to enforce these rules and make sure maintenance obligations are met.
So, What Should You Do Now?
With all these changes coming in 2025, here’s your checklist:
- Review your strata management agreements to make sure they match the new disclosure rules.
- Get your strata committee up to speed with training.
- Start planning for sustainability and accessibility improvements.
- Get ready to offer extra financial support for owners in need.
These reforms are all about creating happier, more transparent strata communities, and now’s the time to get ready for them. Have questions about how these changes affect your strata scheme? Give Lawgix a shout, and we’ll help you navigate the smoothest transition ever!
