Strata Reporting

 

The Strata Hub went live on 31 July this year, allowing the Strata Building Bond and Inspections Scheme (SBBIS) functions to be dealt with through the Hub. The next phase of the Hub is proposed to commence from the 1 May 2022.

Phase two opens with the annual reporting scheme, which will require strata schemes to provide key information about their scheme to NSW Fair Trading. Strata managing agents, lot owners, residents and members of the public will then be able to go to the portal for easy access to reliable information.

This phase requires an Owners Corporation to provide an annual report that is to contain the following information. Items (a) – (g) are the basic information about the scheme:

a) the strata plan number for the strata scheme

b) the date that the strata scheme’s plan was originally registered

c) for strata schemes that are part of a larger community scheme, the date registration for the community scheme and its plan number

d) for strata schemes that are part of a precinct scheme, the date registration for the precinct scheme and its plan number

e) the address of the strata scheme

f) the total number of lots that are in the scheme

g) how many lots are used:

• as residences (like townhouses and apartments, but excluding retirement villages)
• for a retirement village
• for commercial activity (such as an office or shop), or
• for any other purpose

Items (h) – (k) cover building and safety information:

h) if the scheme has any NABERS ratings 1 – the ratings that are assigned to the strata scheme

i) the date that the strata scheme’s interim and final occupation certificates 2 were issued, if the scheme received these certificates

j) the date of the most recent annual fire safety statement, for buildings that must have one

k) for any class 2 buildings in the scheme, how many storeys the building has above ground

l) the insured replacement value for the strata scheme or – if the strata scheme is only a part of a larger building – the replacement value for the part of the building that holds the scheme

Items (l) – (q) cover information on the management of the scheme:

m) the contact details for the secretary of the owners corporation:

• name
• phone number
• email address

n) the contact details for the strata managing agent (if there is one):

• name
• phone number
• email address
• licence number

o) the contact details for the building manager (if there is one)

• name
• phone number
• email address

p) the date of the most recent AGM

q) the balance of the scheme’s capital works fund, as reported in its most recent financial statement

r) whether the strata scheme has formed a strata renewal committee

The report must be provided between the 1 May 2022 and the 1 August 2022 at a cost to the Owners Corporation of $3 per lot (which can add up to a substantial amount of money for the larger schemes). This fee will go towards the cost of running the Strata Hub.

Interestingly some of the information provided by the Owners Corporation will be made public on the NSW Fair Trading website, which will be limited to:

• the strata plan number, address and date of registration
• the number and purpose of lots in the scheme
• whether the strata scheme is part of a parent community or precinct scheme
• the number of storeys above ground (for apartment buildings), and
• the date of the most recent AGM

If you would like to make comment on the above items with NSW Fair Trading, there is a public consultation process open now whereby you can either complete a survey or if you have a little more time on your hands, complete and submit your submission before the 18th November 2021 on the following link: New annual reporting for strata schemes | Have your say NSW

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