Strata Reforms: Considering Reinstatement Costs Strata reforms have a significant impact on the value a building is insured. As of 30 November 2016, Strata Managers will need to consider replacement and reinstatement costs, not just replacement costs as per the previous Act. What are reinstatement costs? Reinstatement costs...
Developers will have to lodge a building defect bond from 1st July 2017 The new building defect bond scheme will apply to contracts for the construction of strata buildings over three storeys high, entered into after 1st of July, 2017. Changes coming into effect include: mandatory defect...
Strata Reforms: Fact or Myth? The new strata law reforms are designed to bring strata laws up to date with modern times, covering a broad range of topics from pet ownership to the length of strata management contracts. We have previously covered some of those changes...
Strata Law Reforms As you are aware, the Strata Schemes Management Bill 2016 will commence on 30th of November 2016. The reforms cover a wide range of topics with a number of them related to Strata Managers, of note are the following...