Current Page

[Jimmy-T]

First it was “embedded networks” now it’s the pre-sale of management rights – it seems there are some NSW developers who don’t miss a trick when it comes to squeezing a few extra bucks out of naïve apartment purchasers. In most states, it is illegal for developers to lock strata schemes into contracts before the first AGM …
https://www.flatchat.com.au/contract-con-trick-2/

If you want to be alerted when anyone replies to your posts or responds to this topic, please register and login, then you will be able to subscribe to the topic. The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers. NB: Longer threads may spill over to additional pages - look for the numbers on the bottom right, under the last post.

Topic

[Jimmy-T]

In case you missed today’s update to the original story, the Fair Trading ministry is at least now aware of the issue.

“Although there’s no indication of issues in NSW with management rights contracts, we’re very aware of ongoing concerns around embedded networks in strata,” Minister for Better Regulation, Kevin Anderson told Flat Chat.

“The NSW government made changes to Strata laws in 2015 to limit developers’ powers and protect consumers before settlement occurs and we won’t hesitate to make further changes if the statutory review finds they are needed.”

 

If you want to be alerted when anyone replies to your posts or responds to this topic, please register and login, then you will be able to subscribe to the topic. The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers. NB: Longer threads may spill over to additional pages - look for the numbers on the bottom right, under the last post.

Quote

[Author]

Replies