REIWA sup­ports changes to strata law

Pilbara News - - Property -

The Real Es­tate In­sti­tute of WA has wel­comed the pro­posed changes to the Strata Ti­tles Act, which aim to pro­vide more flex­i­bil­ity in strata de­vel­op­ments and pro­vide for bet­ter com­mu­nity en­vi­ron­ments.

New rules for WA apart­ments will crack down on wealthy own­ers who in­vest in run­down com­plexes to stymie de­vel­op­ment to pro­tect their views.

Pro­posed changes to the Strata Ti­tles Act in­tended to help WA meet its in­fill hous­ing tar­gets would mean unan­i­mous agree­ment from own­ers was no longer needed to sell a com­plex.

In­stead, 75 per cent of own­ers would be enough to ter­mi­nate a strata scheme with un­will­ing own­ers forced to sell.

REIWA pres­i­dent Hay­den Groves said the pro­posed changes would ben­e­fit both strata own­ers and strata man­agers.

“As we see a con­tin­u­a­tion of the trend for multi-dwelling con­struc­tion in and around Perth, we are sup­port­ive of changes which con­trib­ute to­wards pos­i­tive out­comes for the prop­erty in­dus­try and mem­bers of the pub­lic alike,” he said.

“REIWA mem­bers had a di­rect im­pact on the strata re­forms with their views and real life ex­pe­ri­ences in­cluded in a sub­mis­sion con­sid­ered by Landgate.

“We look for­ward to the leg­is­la­tion be­ing drafted and to pro­vid­ing fur­ther in­put to en­sure a bal­anced out­come for buy­ers of strata prop­er­ties and good in­dus­try prac­tice in the man­age­ment and sale of strata.”

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