Anecdotally, we understand that SiCorp trading as the Home Building Compensation Fund (HBCF), the insurer who administers and underwrites insurance under the HBCF (formerly known as Home Owners Warranty Insurance) has tightened controls on the issuing of that insurance.
Summary
Bannermans were given instructions for interim orders to stop a lot owner carrying out unauthorised works to common property including works requiring waterproofing. Interim orders were granted and served on the lot owner. The lot owner ceased works and agreed to requisition a motion and by-law regarding the works. The by-law was passed and registered. The lot owner continued the works in accordance with the by-law.
Owners of investment properties will, from time to time, carry out renovations. In fact, an investment property owner may even have acquired the property with a view to carrying out renovations and making a gain on sale of the property. At the least, an investment property owner will want to maintain the condition of the property to comply with obligations under tenancy laws and to maximise the rental value of the property.
Objecting to a Development Proposal and how to do it effectively:
The laws in relation to planning consents and development applications have undergone significant change in the last few years.
Many owners may be tempted to “keep it simple” when renovating their apartment and not request approval from the owners corporation, or a by-law. Strata committees may take a similar view, wishing to minimise the number of general meetings and the number of motions at those general meetings. However, this is a bad idea, for both lot owners and owners corporations.
Owners and developers of strata units considering renovations or subdivisions need to consider whether council approval is required. Failure to obtain a required approval can have serious consequences, including penalties, upgrade or demolition orders and prejudice to insuring, leasing, mortgaging or selling the property in the future.
Ownership and use rights
We have recently seen an increasing number of requests from lot owners in strata schemes to obtain a right of ownership or use for common property areas comprised in:
Renovations to strata units may require council approval. This will depend on the nature of the renovations, as well as the council involved. It will differ from council to council, so it is always a good idea to check.
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NORTH SYDNEY NSW 2060
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NORTH SYDNEY NSW 2059
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