This week has been very exciting for Strata. As of May 1st, the Strata Titles Amendment Act 2018 is now in effect! Some of these changes may affect you, and your Strata Manager will advise you of those changes as they arise in the running of your Strata Company.
The key focus areas of the Strata Titles Amendment Act are:
- Regulation of Strata Managers – minimum education requirements
- Improving the management of the Strata Company – by-laws have been refined to make them clearer and electronic voting now allowed
- Compulsory 10 year maintenance plans for designated Strata Companies
- Empowering owners to improve their scheme – Strata Company will now be able to make improvements as opposed to only maintain, repair & replace
- Fast and efficient resolution of strata disputes – SAT now the one stop shop
- Better buyer information for multi-stage developments
- Introduction of Leasehold strata
For a look into each of the major changes, you can view our Knowledgebase here.
The ESM Strata Team is very excited about these changes which are a big milestone for Strata in WA. Strata Titles currently account for over one-third of all forms of titles registered in Western Australia so these changes will effect a lot of the Western Australian community.
