NSW Owners Corporation
New South Wales is Australia's 'Premier State' offering a wide variety of climates and a diversity of culture. NSW has more than 100,000 strata properties on title, representing more than 770,000 individual lots. The state capital, Sydney, is Australia's most populated city. With constant high demand for housing, Sydney is forecast to continue strong growth in the strata property sector.According to the ‘Australian National Strata Data Analysis 2018’ conducted by the UNSW, about 15% of New South Wales’ population live in apartments. 55% of apartment residents in New South Wales were born outside of Australia, which is slightly below the national statistic of 57%.
Strata Managers manage the common property of the Strata Scheme in NSW with the help of an Executive Committee. When buying and selling property, the vendor disclosure document for the Owners Corporation is the Section 184 Certificate, which will be in the Contract of Sale.
ACE Body Corporate Management has been a member of the state strata management institute, Strata Community Association (NSW), since 2003. Membership with SCA (NSW) is compulsory for all Ace NSW strata managers. ACE NSW strata managers all hold an NSW Strata and Community Management Licence and obtain the post nominal, Certified Practising Strata Manager (CPSM) with SCA.
The legislation affecting owners corporations in NSW is the Strata Schemes Management Act 2015 also referred to as the SSMA. The rules, contained in this legislation and the Strata Schemes Management Regulations 2016, provide the entire requirements and conditions for the running and operation of every type of Strata Scheme in NSW today.
Other legislation affecting owners corporations in NSW include the Property, Stock and Business Agents Act 2002, Community Land Management Act 1989 and the Property, Stock and Business Agents Regulation 2014.
The dispute resolution body in NSW covering strata management is the NSW Civil and Administrative Tribunal (NCAT).
For further information, please contact your local Ace strata manager.