Blog

Mar
26

THE PROBLEM WITH DEEDS OF CONSENT IN NEW SOUTH WALES

Financiers of management rights purchases commonly require the owners corporation to enter into a deed of consent to security (“consent deeds”). The problem is that there is nothing in the NSW strata legislation that requires an owners corporation to agree to enter into such a deed – even on the most reasonable of terms.

Consent deeds, also commonly called “right of entry deeds”, act as security over the management rights in the event of a default by the caretaker.

The deed allows the financier to ensure its security is not jeopardised if the caretaker is in default of its loan agreement. 

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Feb
27

Will The Vacancy Fee For Foreign Owners Have An Impact On Short Term Management Rights?

Following a series of amendments in November 2017, foreign owners who have applied for FIRB approval after the 9th May 2017 may be liable for a “vacancy fee” where their residential properties are not occupied for at least half a year.

The vacancy fee was introduced by the Federal Government to address domestic housing affordability by encouraging foreign owners to put their properties on the rental market.

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Jan
26

The Old Chestnut – How To Deal With Illegal Parking On Common Property!

Illegal parking on common property has to be one of the biggest issues faced by Building Managers.

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Sep
18

STRATA MANAGING AGENTS IN NSW

A managing agent can only be appointed by the owners corporation by a general resolution. If a strata managing agent has been appointed by the developer before the first AGM, then that appointment ends at that meeting.

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Nov
21

ANNOYING STRATA ISSUES

I have had a couple of Building Managers ask me recently about what is the current law in NSW relating to smoking on balconies and goods that have been abandoned on common property.

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Oct
19

NSW Tribunal Confirms By-Laws Cannot Outlaw Short-Term Letting

In my August article, I made mention that the Strata Schemes Management Act 2015 (Act) prevents an Owners Corporation from restricting an owner from letting their lot, including short-term letting. I made note that the only way short-term letting can be restricted is by Council planning regulations.

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Oct
12

UNIT RENOVATIONS IN NSW – WHEN DO YOU NEED OWNERS CORPORATION CONSENT?

Every lot has areas within them that are common property. Consequently, owners wanting to make changes or undertake renovations may require approval from the Owners Corporation and this will depend on the type of renovation required.

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Jul
03

How Important Are Unit Entitlements?

Many people believe unit entitlements only exist to determine voting rights in the event a “poll” is called at a general meeting of an Owners Corporation.

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Apr
28

More Management Rights - the Simple Answer To Airbnb

Sydney Morning Herald columnist Jimmy Thompson wrote an interesting article in his Flat Chat column recently headed “Guerrilla warfare warning over holiday lets in apartments”.

Under current strata laws, an Owners Corporation can only legally ban short stay letting if its building is zoned residential. Under the proposal before Government, apartments (and stand-alone houses) in residential zones will be exempted.

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Apr
28

Fight For Your Extension

I have had a number of managers come to me very concerned their committee will not support an extension of their caretaking & letting agreements. They believe, if the committee does not support the “top-up”, any extension will not happen.

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Management Rights Articles

  • Fight For Your Extension

    I have had a number of managers come to me very concerned their committee will not support an extension of their caretaking & letting agreements. They believe, if the committee does not support the “top-up”, any extension will not happen.

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