The annual strata scheme reporting obligations required by NSW Fair Trading will have a significant impact on an industry of 80,000+ buildings in NSW.

McCormacks is here to help, by handling this process for our clients.

In the last month, NSW Fair Trading advised by letter to all owners corporations secretaries in NSW of their obligations for strata scheme annual reporting.

The form letter was sent to all properties and relates to the requirement for certain information about your building, to be uploaded to the NSW Government portal referred to as Strata Hub.

Challenges And Opportunities

There have been a number of changes in recent months, including withdrawing the requirement for Chair and Secretary to provide personal telephone numbers.

However there remain some challenges for strata committees, including:
1.  No bulk upload of scheme data is possible (each building is one-by-one).
2.  Payments for the $3 per lot fee must be paid by credit card.
3.  The upload must be executed through a personal Service NSW account – linking the property to that person.

And whilst some of these matters may be minor in nature, they will have a significant impact on an industry of 80,000+ buildings in NSW over a short period.

Most buildings under our management have elected to have us manage this on their behalf.

Through our industry engagement, we are advised the government is working to resolve these issues and the deadline for compliance is likely to be in 2023.

For more information on Strata Hub read more at nsw.gov.au and search ‘strata annual reporting’. Or for more updates click here.

As always, please contact us at info@mccormacks.com.au for further guidance and assistance.