NSW Strata Reforms – Introduction of the new Building Defect Bond Scheme

Developers and builders of residential and mixed use high rise strata buildings are being urged to familiarise themselves with the introduction of the Building Defect Bond Scheme introduced under the new Strata Schemes Management Act 2015 (NSW) (the Act). The Building Defect Bond Scheme will commence on 1 July 2017, and will require developers to lodge a bond with NSW Fair Trading equal to two percent of the contract price for residential and mixed use high rise strata buildings.  Read the article…………..


Related Articles

NSW: Submission on the Strata Schemes Management Bill 2015: Part 10 of the Strata Schemes Development Bill 2015

This is a submission from Bannermans Lawyers addressing a number of issues with the Bills, based on our experience acting

What Tenants Need to Know About Discrimnination in Strata

Domain recently highlighted a struggle that tenants face; discrimination more often takes place against them because they’re seen as being

Big Brother is Watching

The other day a chairman of an executive committee contacted BylawsOnline and said that there have been a growing number