A similar regulation is in the pipeline for NSW blocks of over 100 units.
I would expect you would have some appreciation of just how few large SPs do not already have a manager already.
There is a paper somewhere by Fair Trading from many years ago that says there are very few, it might even have used the term ‘handful’. I have it somewhere in the files.
It seems a very poor prioritization of issues and resources if the pipeline has this in it, but it does create the appearance of doing something.
So many bigger fish to fry.