Wednesday 30 November 2016

Strata law changes set to benefit investors in the Hunter

BY JARROD MELMETH

More than 90 of the proposed changes to strata laws by the State Government come into full force throughout the State including the Hunter today, with investors set to benefit.

Strata title or Strata laws is the system for owning units and townhouses, which generally have a combination of private residences as well as communal spaces

Under the new laws, cigarette smoking will now be considered a 'nuisance', meaning people who only smoke inside their own units can be ordered to stop if it affects other residents. 

A limit to the number of adults who can live in an apartment will now be in place, with fines for overcrowding to be raised to $5500.

Owners corporations will also have the power to invite local council parking inspectors into their car parks, in an effort to penalize "parking thieves."

The most controversial of the changes means that 75 per cent of owners in older residences will have the power to dictate the selling of the entire building to developers, regardless of objections from the 25 percent minority.

Minister for Innovation and Swansea MP Yasmin Catley says the changes are a direct attack on people's property rights.

"The fact that somebody can come in and compulsory acquire another persons home reducing their property rights is just fundamentally wrong.

"The fact that the government is enabling developers to do that shows very poor judgment on their behalf and it shows that they are not in touch with the people of NSW and people living in strata.

"As of today, developers in New South Wales got their early Christmas present thanks to Premier Mike Baird, and I've no doubt they'll all be popping champagne corks." Ms. Catley said.