New strata laws and building bond regime are set to commence

The building bond scheme applies to strata developments over 3 storeys and requires the developer to provide the Office of Finance with a bond equal to 2% of the price for the building work. The bond must be provided prior to the issue of the occupation certificate for the strata scheme. The purpose of the bond is to guarantee the rectification of defective building work by the developer.    Read the article……………


Related Articles

Strata Managing Agents – Tips on Managing Risk

Ever more is expected of strata managing agents, in terms of the broad range of issues they are required to

Dr McKenzie @ Griffith 2015 – Institutions may save strata before government

American Professor Evan McKenzie [1] opened his keynote address to the Griffith University strata conference ‘Changes confronting the strata world’

New laws on managing and living in strata (Australia-NSW)

The NSW parliament’s approval of major strata reforms will, among other things, impact how strata schemes are managed. Owners and