Cosmo is right but gives only half the answer
Quick answer
Options fix the railing to comply with current minimum or lock the balcony door
My Answer
You need to address the real issues (for a building registered as domestic use only)
- Is the building approved
- Any change to usage or structure may invalidate the current building certificate that was issued when built
- Legal liability
- If you provide an known unsafe environment for visitors are you legally responsible
- Work Cover does not care about anything other than its requirements and will fine you for having workers in an unsafe area
Most reputable contractors know and will not carry out work (including accessing the area) that affects the building but it is common that balconies gets tiled and that change is sufficient to be classified as a change to railing height and no longer approved as built.
In summary approved as built but not meeting current standard
- If you fall over it is only your fault as an owner
- If anyone (visitors, renters?) falls over you are legally liable for providing a known unsafe place
- No one has to fall over but Work Cover will fine you if the area is accessed by a worker
As the balcony railing is common property I assume the fines would go direct to the Owners Corporation?