7 September 2023
September 2023 – Strata Regulatory Watch
In this edition we cover: NSW: Final version of the Fire Safety Schedule NSW : Update on strata management legislation Press release : Welcome to Gerard Doyle, our new NSW…
Changes to the residential tenancy laws in NSW start on 23 March 2020, with amendments to the Residential Tenancies Act 2010 (the Act) and the new Residential Tenancies Regulation 2019 (the new Regulation).
The changes cover the following key areas:
The most important change for strata schemes, owners and tenants relates to the information that must be disclosed to prospective tenants. From 23 March 2020, before a tenancy agreement is signed, a landlord or agent will need to give a tenant a copy of the strata scheme’s by-laws. They will also need to inform the tenant if a strata renewal committee is currently established for the scheme (i.e. the scheme has received a proposal to undertake a collective sale or redevelopment known as a strata renewal). These changes provide greater protection for prospective strata tenants and are additional requirements to the general disclosure obligations.
A summary of the changes can be found can be found here.