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Since 2019, the land and Property Information (LPI) has been handled by PEXA, a privately owned company
The government sold this monopoly to PEXA, with the promise of smother and cheaper registration of land dealings.
Prior to 2019, I used to get on a train, go to the LPI office fill out a form and register bylaws . It cost the OC a whole $110.
Our OC is trying to register a bylaw today. We have to go through a lawyer or conveyancer who has access to PEXA. There is no other way to do it.
Of course we have to pay the lawyer to press a few butoons on a computer , where they charge a few hundred dollars. For the simple matter of registering a bylaw
I can understand the lawyer charging if the provide legal advice or some other work.
What a rort that benefits PEXA and the legal profession.
Why is there not a simpler cheaper way?
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I just landed here seeking an answer to the same question re costs to register by-laws. We agreed to update/ add 2 by-laws at the last AGM which incurred a cost of $1115 in total. We were presented with 3 by-laws and decided to move with 2 that were relevant.
The by laws were presented to us in full in the meeting papers prior to the AGM meeting, and we were given an option of 3 to consider and vote on at the meeting. Presumably the strata management company had the documents prepared as ‘cookie cutter’ documents rather than have individual by-laws drawn up for each of OCs they provide management services to.
There is no cost breakdown for the Land titles and By-Law Registration item on our financial report. I can’t help wondering that real cost is to the OC under this business model is greater than it needs to be and strata management companies and/ or their lawyers and/ or PEXA are reaping in the profits.
If I had the option to get on a train to the LPI and lodge the by-laws myself, I would. But sadly it seems the corporatisation of the system prevents OCs/ committee members from being able to control costs. So again, is there a way to do this more cheaply, simply and transparently?
- This reply was modified 10 months, 1 week ago by .
The government sold this monopoly to PEXA, with the promise of smother and cheaper registration of land dealings.
And you believed them? Bahahahaha.
Anything Government is more likely lie that truth. We all know it and we “all” re-elect them.
We “all” have ourselves to blame when this type of thing happens.Oh no. This is terrible. The last time I updated by-laws was in 2021. I paid $146.40 at the NSW Land and Property Information (LPI) in Sydney (near Museum Station). The office had moved from St James and was significantly smaller. They were obviously preparing for the final offload of the business to PEXA.
Before we became self-managed, the strata management contract listed by-law changes as $550 per by-law.
There should be an option for non-lawyer people to do this.
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