These strata laws have already changed, after being passed by parliament late last year. This process is now to consult with the general public around these changes, so any fine-tuning can occur. Whilst also ensuring that these changes are understood and adopted.
Realmark Managing Director, John Percudani said, “As the West Australian lifestyle and housing climate changes, strata living has increased, with people choosing to live in these complexes for both economical and community engagement particularly for the aging population. The changes for consideration are needed to ensure the regulations are keeping up with consumer demands and the changing landscape to our property market.”
“At Realmark, our strata division have seen an increasing call for change in the strata complex under our management. Property owners are calling for great efficiencies to management and maintenance, something Strata Managers have been advocating for years.”
The changes are intended to bring about more simplicity and clarity in these arrangements. With the following being some of the main focuses:
Ensuring that all stakeholders of a strata complex have access to better and more readily available information. This is particularly important for people looking to buy into strata. While as consumers, we can often be a little naïve and unprepared going into these ventures, this should allow for more transparency and accountability.
Creating a more efficient, and less daunting dispute resolutions system. Integrating the State Administrative Tribunal as the ‘go-to’ one-stop-shop for any dispute resolutions. The goal is to control these concerns and rectify them through mediation, and if required arbitration, and ultimately keeping these matters out of the court system. This system is also set to make it clearer on matters like common areas and shared facilities, and ‘who can do what’.
The introduction of by-laws will make maintaining and managing these strata schemes a lot easier and more efficient. The improvements to this process will see changes to management and maintenance plans, to ensure the longevity of the strata and satisfaction of all stakeholders.
Strata Managers are now defined within the legislation, as having a set role with requirements and regulations to hold their position in account. Their responsibilities are now set out in a guide so they can meet such requirements like maintenance and insurance standards. This will affect anymore taking on the role of a strata manager, whether it be in a professional or voluntary sense. While these by-laws will set necessary minimums, there is still enough freedom for strata companies to put emphasis on items that matter to them.
These items are now being discussed with the community to understand how they are being received and any concerns that can be ironed out.
If you would like more information on these changes please visit https://strata.wa.gov.au/ or contact Realmark Strata.