Increased Administration costs for the administration, creation, lodgement and registration of By-Laws.
The Owners Corporation is required to provide a copy of the consolidated by-laws to a Landlord or the Agents as it is a requirement under their tenancy agreement that the landlord provides the tenant within 7 days of entering their agreement a copy of the by-laws applying to the residential premises.
The majority of by-laws held by an Owners’ Corporation currently are not in this format, and therefore all the special by-laws and existing by-laws must be consolidated into a word document.
Under the Strata Schemes Management Act 2015 all Owners Corporation must undertake a by-law review before 30th November 2017.
The process for registering by-laws to be compliant with Strata Schemes Management Act 2015 Strata Schemes Development Regulation 2016 and the Land and Property Information NSW have completely changed. The LPI will no longer allow by-laws to be registered unless a consolidated version of all by-laws including any new by-laws is lodged for registration. The consolidated version of the by-laws must include any relevant model by-laws.
Any attempt to register a change in the by-laws without the consolidated version of the by‑laws, Land and Property Information will simply reject the application. This will only serve to increase administration costs and delay the registration.
Once the consolidated version of the by-laws is registered, all current notifications of by-laws appearing on the common property title are to be removed and the common property title will be updated to refer to the consolidated version only.
When the consolidated by-laws are prepared, it is to be registered. The Land and Property Information do not examine the consolidated by-laws against the existing set to confirm that it is accurate. If the consolidated set of by-laws is correct or up to date any person aggrieved by the error may make a claim against the Owners’ Corporation or strata manager who registered the incorrect consolidated set of by-laws.