Renovating a unit in NSW could become a lot easier thanks to a recently announced review of the state’s strata laws.
The state government’s fair trading minister, Anthony Roberts, has announced that the “outdated” laws – first introduced in 1961 – will be reviewed to better reflect the needs of ageing buildings and changing demographics.
The Strata Agency managing director Rachael Kwawegen explains that renovating strata titled properties comes with its own challenges, as owners often need clarification on what they can and can't do before making any changes.
“This initiative will hopefully lead to a greater understanding of the ins and outs of renovating properties and in doing so make the process easier for owners,” she says.
The review, including a public three-month online consultation, aims to simplify strata rules and reduce the increasing number of strata cases heading to the Consumer, Trader and Tenancy Tribunal.
Have you had strata troubles with your investment property? Share your story on the Your Investment Property forum.
Related stories:
9 tips for a profitable apartment investment
5 features to look for in an apartment
Houses or units: which is more profitable?
