Strata reform 75% termination rule: Threat to apartment dwellers of all ages

“The NSW Government is proposing new laws that will make it possible to force owner-occupiers out of their apartments and pave the way to eventually do the same to owner-occupiers in freestanding Torrens title homes,” said Charmaine Crowe.

“Draft legislation proposing to lower the vote for termination of strata schemes covering apartment blocks from 100% to 75% agreement will dramatically reduce the security of tenure of owner-occupiers, young, old and middle-aged.

“Lowering the vote from 100% to 75% to demolish and build a new and bigger apartment block benefits investors but not owner-occupiers who are not ready to sell or who just like where they live.

“Particularly hard-hit will be the “little old ladies”, who won’t be able to live out their last years in their apartment. Unable to afford to buy in the same area, they will most likely be forced into a nursing home, develop depression and die within a very short period.

“Lowering the vote for termination of strata schemes covering apartment blocks from 100% to 75% agreement serves no public policy purpose. The NSW Government is simply caving in to pressure from property developers,” said Ms Crowe.

Media Contact:

Charmaine Crowe, Senior Advisor, Research & Advocacy
Mobile: 0422 707 332