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  • #53611
    Jimmy-T
    Keymaster

      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/

      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.
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    • #53614
      Jimmy-T
      Keymaster
      Chat-starter

        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.”

         

        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.
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