Strata Annual Reporting – Commences on 30 June 2022

Strata Reporting

Strata Annual Reporting – Commences 30 June 2022

NSW Government is in the process of developing a digital hub to “revolutionise strata management”. The Strata Hub will be a central point of information on NSW’s 82,000 strata schemes. Information held on the Strata Hub will increase transparency and access to information for Strata Schemes. Purchasers will be able to obtain information on a potential purchase and current owners can get documents and information such as how environmentally friendly a building is reported to be. Further, the regulator will be better able to monitor a scheme’s ongoing maintenance and defect management.

Information on the Strata Hub is expected to include data the Office of Fair Trading currently hold on a scheme and from the new reporting requirements.

Summary

Strata Reporting

Within 3 months of each AGM, schemes will be required to provide key details about the scheme, including building, safety and management information to the NSW Fair Trading. Obligations will exist to correct or update information within 28 days after the secretary or managing agent becomes aware of a change. Requirements will be enforced by fines of up to $2,200. The breakdown of who is able to access what information is included in the table below.

When does it start?

Currently the reporting requirements as set to commence on 30 June 2022. All schemes will need to be registered on the portal by 30 September 2022. The government is still in the process of developing the hub and working out the final details. The below information is what we have been made aware of, however there may be changes between now and when the scheme rolls out.

What information is required?

Information Available to the Public? Available to those on the Strata Roll? Available to Council/Fire & Rescue? Available to Police, SES & Ambulance?
Strata plan number YES YES NO NO
Date of scheme registration YES YES NO NO
Address of scheme YES YES NO NO
Total number of lots YES YES NO NO
Use of lots YES YES NO NO
–   Residential purposes YES YES NO NO
–   Retirement village YES YES NO NO
–   Commercial YES YES NO NO
–   Utility lots YES YES NO NO
–   Other purposes YES YES NO NO
Is the scheme part of a precinct scheme? YES YES NO NO
NABERS Rating NO NO NO NO
Date of occupation certificates NO NO NO NO
Date of AFSS (if applicable) NO YES YES NO
Number of storeys above ground (class 2) YES YES NO NO
Strata manager details NO YES YES NO
Building manager details (if applicable.) NO YES YES NO
The building insurance replacement value NO NO NO NO
Full name, phone & email address for:    
–   Secretary NO YES YES NO
–   Chairperson NO YES YES NO
–   Emergency contact NO YES YES YES
Date of the most recent AGM YES YES NO NO
The balance of the Capital Works Fund NO NO NO NO
If a strata renewal committee is established NO YES NO NO

Enforcement and cost:

Penalties for non-compliance apply for providing incorrect information (upto $220) and for not providing the information initially (up to $5,000).

A fee of $3 per lot is also payable to the NSW Fair Trading annually to cover administration and enforcement costs.

Conclusion:

Will the Strata Hub and new reporting requirements provide a digital hub to revolutionise strata management, or be a further bureaucratic process that costs strata schemes time and money? We are hopeful it will enhance the industry, but time will tell.

More information:


strata management north shore

About Strata Life – Strata Management Services

At Strata Life we strive to take the pressure of the day to day running of a strata scheme off of the shoulders of the committee members and owners. Whilst the nature of strata itself does mean that the owners/ committee are responsible for the decisions, the pressure is reduced by having a proactive manager provide guidance with a plain sense approach and quickly actioning issues as they arise.

We appreciate Committee members often have full time jobs and busy lives. Add to this that the strata scheme is often your home where Committee members do not want to have to police other residents.

Our aim is to minimise the work and time where we can, take on the role of reminding owners and residents of the by-laws so that everyone can peacefully enjoy community living.

Our team has extensive experience with properties on the Upper North Shore, Hornsby and the Northern Beaches areas, with excellent local contractors and superior local knowledge.

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Get in touch

Whether you’re an existing client or not, our strata managers are here to help with all matters relating to strata schemes and community living.  Our office is open Monday – Friday, 9 am – 5 pm to answer your call or, for after-hours assistance, please complete our online enquiry form and we’ll get back to you the following business day.

Telephone : 02 9456 9965
Email: contact@thestratalife.com.au
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Disclaimer: The information contained in this article is general information only and not legal advice. The currency, accuracy and completeness of this article (and its contents) should be checked by obtaining independent legal advice before you take any action or otherwise rely upon its contents in any way. Strata Life disclaims any liability for negligence or otherwise in any way connected with this article.