The strata committee (also known as the SC) is responsible for the day-to-day running of the strata scheme and is elected at each annual general...
NSW Strata is governed by the Strata Schemes Management Act 2015
Living in a NSW strata scheme means:
- you own your unit or apartment as well as sharing ownership and responsibility for common property
- if you own your unit, you are automatically a member of the owners corporation which has responsibility for common property and makes key decisions affecting the strata scheme
- you contribute to the cost of running the building through paying quarterly levies
- you also have to pay money into a capital works fund, for future long term expenses such as painting the building or replacing guttering
- there will be lifestyle restrictions in a strata scheme.
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