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NSW strata reforms postponed

By Louise Morrin

If you're about to buy properties in Carlton on a strata title, you might want to educate yourself on some of the reforms that are coming your way. 

Last year, the New South Wales government passed the strata reform bill, which will effect the way that strata title buildings are managed, including fostering "a culture of community and cooperation". 

Tenants will also be allowed to attend and participate in owners corporations meetings so that they can voice their issues and concerns with things happening in the building.

There's also a bylaw change to encourage more strata schemes to allow pets. This might help landlords open up their properties to a wider pool of tenants who have furry friends in tow. 

Earlier this week, the government announced it will postpone these changes in order to package all reforms for the building industry into one release. This means they'll be released with a number of other changes such as home warranty insurance, security of payments and other reforms.

Recent figures from a Real Estate Institute of New South Wales release found that over 25 per cent of the state's population reside or work in strata title buildings. This just goes to show how popular these titles are and how many people the reforms will affect. 

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