Aim of the new Strata Defects Regime: quick and efficient repairs of defects!
Of the strata schemes constructed in the last 10 years 85% are reported to suffer from at least one form of building defect. Owners corporations are often the losers when it comes to building defects in their strata scheme, incurring large costs in order to carry out rectification works. With such high rates of building defects affecting homeowners and increasing criticism that NSW strata schemes are ridden with a lack of accountability, the NSW Government is looking to provide owners with a degree of protection through the first major strata law reforms which will come into effect this year. Read the article…………
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NSW Fair Trading Minister, Matthew Mason-Cox, said that more than 25% of the state’s population lives or works in strata
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