Strata Schemes Management Amendment (Information) Regulation 2021 under the Strata Schemes Management Act 2015
INFORMATION TO BE lodged with fair trading
Owners corporations must lodge an annual return with Fair Trading, within three months of each AGM, with an extension to 30 September 2022 for the return following a first AGM, if held on or before 30 June 2022.
Clause 43a of the Regulations lists all the information owners corporations must provide and keep updated annually, including but not limited to:
- The strata plan number
- The date of registration of the strata plan, community plan, or precinct
- The address of the parcel of the strata scheme
- The total number of lots in the strata scheme and their uses (i.e. residential, commercial, utility)
- The number of storeys above ground level in the building
- The date of the most recent annual general meeting of the owners corporation
- The NABERS rating (if applicable)
- The date of the most recent annual fire safety statement
- The insured replacement value of the building
- The details of the secretary, chairperson, strata managing agent, building manager and an emergency contact person
- The balance of the capital works fund
- Whether a strata renewal committee is in place under the Strata Schemes Development Act 2015
Please refer to Clause 43a of the Regulations for further information. The information must be provided in the ‘approved form’.
An annual fee of $3 per lot payable by each owners corporation to the government.
The building defect bond is also manageable after it is lodged on Strata Hub platform, to cover any defects found in the first 24 months after completion of the construction work.
Strata Agent need to be delegated this new task of lodgement on your behalf via a resolution at a meeting. As this is a new task and outside the scope of our current agreements, additional charges will apply.
INFORMATION PUBLICLY ACCESSIBLE
Important message can be delivered to emergency services, councils, government agents and regulators.
Some information will be accessible to the public. But information i.e. contact details of the office bears of the strata plan, strata agent, and building manager will only be accessible to those on the strata roll.
OBLIGATION TO SUPPLY CORRECT INFORMATION
It’s the obligation of the Owners Corporation and their Strata Agent to correct or update information already provided. The correction must be submitted within 28 days after the secretary or managing agent becomes aware of the circumstances. Fines of up to $2,200 is applicable to enforce this obligation.
Penalties for noncompliance apply for providing incorrect information (up to $220) and for not providing the information initially (up to $5,000).