strata-schemes-management-act

STRATA RESOURCES

  • strata-levies

    Early issue of levy notices

    WHY AM I RECEIVING LEVY NOTICES SO EARLY? Levy notices are sent up to five weeks out from the due date. Section 83, Strata Schemes Management Act 2015 prescribes that the due date of a levy notice “must be at least 30 days after the notice is given”. Therefore in order to ensure that levy […]

  • consolidating-of-strata-by-laws

    Consolidation of strata by-laws

    What are the rules in lodging changes to Strata by-laws? Where any change in the by-laws is lodged for recording on the common property folio, the change must be lodged in the form of a consolidated version of the by-laws affecting the scheme that incorporates the change. The following information provides: a) clarity as to […]

  • paying-your-levies

    Guide to paying your strata levies

    The Guide to Paying Strata Levies in New South Wales The Strata Schemes Management Act 2015 NSW sets out the management of levies for an owners corporation. WHAT ARE STRATA LEVIES? Strata levies are payments owners must all make to cover the strata building’s running costs. Levies are set at each annual general meeting when […]

  • cctv-in-apartments

    Considering CCTV in strata buildings

    Tips and protocols for CCTV in strata managed buildings CONSIDERING CCTV The following article has been prepared to assist committees in their evaluation of whether to install security cameras. First and foremost, we recommend that your starting point be to create your list of reasons that you are considering this course of action and your […]

  • False fire alarm penalties

    False fire alarm charge increases

    Fire alarms in Strata managed properties: what you need to know In 2015, 97% of the Automatic Fire Alarms (AFA) that Fire & Rescue NSW (FRNSW) responded to were due to false alarms. Crucial resources should be available for genuine emergencies. Repeated false fire alarms may reduce the likelihood that a real alarm will be […]

  • what-is-a-capital-works-plan

    What is a Capital Works Plan?

    What is a Capital Works Plan? This article provides an understanding of the different requirements for a Capital Works Plan (CWP) as compared with the Sinking Fund Assessment reports under the previous legislation. PRE 30 NOVEMBER 2016 Under the 1996 legislation schemes were required to prepare a 10-year sinking fund plan. That is, a plan […]

  • Administration and Sinking Funds

    Administration and Capital Works Funds

    What can and can’t be paid from the administrative and capital works fund. The Strata Schemes Management Act NSW 2015 sets out the management of the two required funds of the owners corporation – the administration fund and the capital works fund. Owners corporation must at every annual general meeting must estimate how much money […]

  • apartment-strata-plus

    How to make your apartment feel bigger

    Tips and tricks to make your apartment look and feel bigger Apartment living is on the rise in Australia as older couples downsize from the large family home for a convenient lifestyle with less maintenance and young families make their first step into home ownership. Whether you’re new to apartment living or you’ve been enjoying […]

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