The Western Australian state cabinet decision to move forward with the strata title reform process has been commended by the Real Estate Institute of Western Australia (REIWA), Strata Community Association WA, Property Council of Australia, and the Urban Development Institute of Australia WA (UDIA WA).
Announced this Monday, the Honourable Rita Saffioti MLA said strata title reform was vital to the future housing needs of Western Australia, which is why the McGowan government would be progressing with the legislation as quickly as possible.
The proposed reforms to the Strata Act, which were drafted by Landgate, cover seven key areas:
- Community title schemes
- Leasehold strata
- More flexible staged strata development
- Improved management
- Simplified dispute resolution
- Better buyer information
- Safeguards for the termination of schemes
Hayden Groves, president of REIWA, said the reforms to the Strata Titles Act were long overdue. He was also pleased that the new state cabinet would be implementing these reforms. “REIWA is committed to the strata title reform process, and we are particularly supportive of more buyer information being disclosed and making sure buyers know what they are getting into,” he said.
Scott Bellerby, president of Strata Community Australia, said the drafted reforms were desperately needed and would help provide more flexible and sustainable housing options.
“The current reforms are a good first step to helping define the role of the strata manager and will provide improved management of schemes. However, further regulation and licensing is still needed. The minister should commit to the formation of a working group after the current reforms are passed, to deliver a licensing platform for the state government to adopt early next year,” Bellerby said.
Meanwhile, Lino Iacomella, WA executive director of the Property Council of Australia, said the introduction of community titles would make a significant difference by encouraging more mixed use development in and around activity centres and retirement villages. It would also expand the amenities on offer to residents and encourage more sustainable local economies.
“These reforms will also provide better outcomes for communities, improving housing choice and affordability for all West Australians,” he said.
Related stories:
Renovation Guide: Unit Renovations
How Low-Income Earners Can Become Property Investors
