New strata laws will force out owner-occupiers who are unwilling to sell, but the compensation spruiked by the NSW Government is just smoke and mirrors and owner-occupiers will be locked out of the market.
THE LAW in NSW says that every home must have at least one working smoke alarm installed on each level. This includes owner occupied residences, rental properties, relocatable homes, caravans and campervans. Any building where people sleep.
THE much-delayed Regulation that would, among other things, say how owner-occupiers kicked out of their apartments, villas and townhouses would be compensated, was out for consultation until 27 May 2016.
LATE last year the NSW Government pushed through legislation that will make it possible for 75 per cent of owners in a strata development to decide to sell their apartment block or villa/townhouse development, forcing the 25 per cent of dissenting owners to sell up as well.
TENANTS need more rights and the NSW Government's social housing plan isn't going to cut it.