On Friday 31 October 2014, the Minister for Lands released the Strata Titles Act Reform Consolation Paper (Consultation Paper).
The Consultation Paper proposes a range of significant reforms to the Strata Titles Act 1985 (WA) which will offer more development structuring flexibility than there ever has been in Western Australia. Some noteworthy proposals include the introduction of:
- “Community title schemes” which will create multiple levels of strata management, allowing multiple strata titled schemes (such as mixed use developments) on one land parcel under an overarching body corporate;
- “Leasehold strata” which will give the landowner the ability to enter into a long-term lease arrangement with a developer who is authorised to create a leasehold strata scheme over the leasehold interest in the land; and
- Provisions for staged strata developments which will allow developers more flexibility to make minor changes in later stages of development.
The Consultation Paper also proposes to:
- Amend vendor disclosure requirements to make them more effective;
- Clarify the role and functions of various management arrangements in strata schemes;
- Make the State Administrative Tribunal the “one-stop shop” for strata disputes; and
- Introduce a new process for the termination of a strata scheme by majority vote.
You can provide and submit feedback until Friday January 16, 2015 through the Government of Western Australia website