New process for lodgement of strata building bonds

New process for lodgement of strata building bonds

NSW Fair Trading has provided an update on the new process for lodgement of strata building bonds.

Starting 1 September 2020, there is a new process for the lodgement of the 2% strata building bond. Lodgement is to be done via the NSW Planning Portal (also known as ePlanning).

This replaces the Strata Building Bond and Inspections Scheme (SBBIS) e-Portal, which will remain available for projects lodged before 1 September.

Also on 1 September, the Residential Apartment Buildings (Compliance and Enforcement Powers) Act 2020 comes into force with new laws for the construction of multi-storey apartment buildings.

Changes include:
• developers are required to notify (within certain timeframes) of the date construction is due for completion
• a new inspection compliance program, Occupation Certificate Audits, gets underway that will ensure the strata building bond is lodged before the application for issue of an occupation certificate.
• reporting of building defects applies retrospectively for buildings up to 10 years old.

Reporting a defect
• All building defects should be reported in the first instance to NSW Fair Trading. Individual strata and community lot owners can report their issues on the NSW Fair Trading website.
• Each complaint will be reviewed and assessed to identify the appropriate response. It is important to note that not every complaint will result in an investigation.
• Caretakers and others who control access to areas of the common property will be obligated to cooperate with inspectors to enable the inspection to be carried out.

The NSW Building Commissioner now has unprecedented powers to regulate and raise the standard of residential buildings in NSW. These powers are part of the Office of the NSW Building Commissioner’s Construct NSW strategy to protect apartment owners and residents from poor construction.

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