Blog

Jun
20

NEW SHORT-TERM HOLIDAY LETTING REGULATIONS FOR NSW

The NSW Government has announced a new regulatory framework to govern the short-term holiday letting industry. Short-term holiday letting has rapidly expanded in recent years due to the growth of online booking services such as Airbnb and Stayz. The new framework will include new planning laws, an industry Code of Conduct and new provisions for strata scheme by-laws.  

Read more ...

May
22

Changes Are Fast Coming for NSW Real Estate Licensing

The Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 has now been passed by both Houses of the NSW Parliament. The accompanying Regulations are still being finalised and the new legislation is expected to come into effect in the latter part of this year (possibly October or November).

ARAMA is continuing to push for relief for its members in the Regulations, so that when drafted, they will exempt onsite managers from having to hold a full real estate licence and/or a “Licensee in Charge” licence where they only intend to carry out letting in the complex that they manage.

Read more ...

Apr
24

THE DEEP END OF POOLED LETTING POOLS

We regularly review a variety of letting appointments (the agreement between the building manager acting as letting agent and the owners of the investment units used in a letting pool) and we often find that there is a noticeable gap between what the appointments state versus how they are interpreted.

For the most part the gap can be attributed to overly simplified clauses that do not adequately state the practices that the majority of the industry operates under. In general, these inadequacies are rarely the subject of a legal dispute (when business is good) and so fixing them is often left on the “do it tomorrow” pile.

Read more ...

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. 

Read more ...

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.

Read more ...

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.

Read more ...

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.

Read more ...

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.

Read more ...

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.

Read more ...

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.

Read more ...

Management Rights Articles

  • THE DEEP END OF POOLED LETTING POOLS

    We regularly review a variety of letting appointments (the agreement between the building manager acting as letting agent and the owners of the investment units used in a letting pool) and we often find that there is a noticeable gap between what the appointments state versus how they are interpreted.

    For the most part the gap can be attributed to overly simplified clauses that do not adequately state the practices that the majority of the industry operates under. In general, these inadequacies are rarely the subject of a legal dispute (when business is good) and so fixing them is often left on the “do it tomorrow” pile.

Visit Us

Contact Us

GOLD COAST SEMINAR

 

BRISBANE SEMINAR