Urban Facelift From Strata Reforms
The Property Council warmly welcomes a recent statement by the Minister for Lands Terry Redman that the WA Government will proceed with major reforms to WA’s strata title laws in 2016.
“The proposed reforms to the Strata Titles Act are long overdue and fully supported by the Property Council,” Property Council WA Executive Director Joe Lenzo said.
“The strata titles system is very important for the continued growth of Perth and major centers in Western Australia. Strata offers great flexibility for housing and commercial properties and it’s vital that the regulations are updated.”
“The reforms will modernise the strata titles system including the introduction of Community Titles, more efficient strata development and reducing the complexity of strata purchases and management.”
The proposed reforms aim to provide more flexible and sustainable housing options to benefit developers, strata owners, investors, residents and tenants.
“Community titles will enable a greater mix of property uses in a precinct including residential, retail and commercial, it will make planning for community developments easier and will reduce the cost for large-scale integrated developments like tourist resorts,” Lenzo said.
The proposed changes also promise better buyer information and faster resolution of disputes, a common gripe of many residents. Also Strata managers will be held more accountable by imposing key duties and obligations.
The proposed reforms also advocate for a 75% majority vote for the termination of schemes, with protections in place for owners.
“This means those wishing to redevelop ageing buildings will face fewer hurdles, making way for modern and more sustainable dwellings across Perth.”
Media contact: Joe Lenzo | M 0419 044 768 | E email@example.com