NSW Owners Corporation

NSW Owners Corporation

New South Wales is Australia's 'Premier State' offering a wide variety of climates and a diversity of culture. NSW has approximately 84,000 strata properties on title, representing approximately 961,500 individual lots. The state capital, Sydney, is Australia's most populated city. With constant high demand for housing, Sydney is forecast to continue strong growth in the strata property sector.

According to the ‘Australasian Strata Insights Report 2020’ conducted by the UNSW, about 15% of New South Wales’ population live in apartments. 60% of apartment residents in New South Wales were born outside of Australia, which is slightly higher than the national statistic of 57%.

Strata Managers manage the common property of the Strata Scheme in NSW with the help of an Executive Committee. When buying and selling property, the vendor disclosure document for the Owners Corporation is the Section 184 Certificate, which will be in the Contract of Sale.

Ace Body Corporate Management NSW

ACE Body Corporate Management has been a member of the state strata management institute, Strata Community Association (NSW), since 2003. Membership with SCA (NSW) is compulsory for all Ace NSW strata managers. ACE NSW strata managers all hold an NSW Strata and Community Management Licence and obtain the post nominal, Certified Practising Strata Manager (CPSM) with SCA.

The legislation affecting owners corporations in NSW is the Strata Schemes Management Act 2015 also referred to as the SSMA. The rules, contained in this legislation and the Strata Schemes Management Regulations 2016, provide the entire requirements and conditions for the running and operation of Strata Scheme in NSW today.

Other legislation affecting owners corporations in NSW include the Property, Stock and Business Agents Act 2002, Community Land Management Act 1989 and the Property, Stock and Business Agents Regulation 2014.

The legal dispute resolution body in NSW covering strata management is the NSW Civil and Administrative Tribunal (NCAT).

How does a body corporate work?

A body corporate is an association of people who are responsible for managing a strata property. A NSW body corporate may be established by a group of owners, either when they purchase a property, or it can be created by legislation to manage registered privately owned land.

A Body Corporate in NSW is regulated by the Strata Schemes Development Act 2015 and Strata Schemes Management Act 2015. The legislation has undergone many revisions both to deal with the continuous changing of property ownership trends, ongoing prevalence of community management and to adjust to the evolving body of knowledge and experience gained from regulating the NSW body corporate industry. There are also certain NSW body corporate legislation and rules that do not apply in other states and territories of Australia. 

Body Corporate by laws NSW

Body corporate by-laws are rules that all residents living in your strata property must follow. It is necessary to understand how by-laws work and how these rules might impact the way you live in the property. Common by-laws include rules about pets, noise, smoking, parking and short-term rental accommodation.

For further information, please contact your local ACE strata manager.