Thank you for having your say on the draft changes to the Regulation to introduce new reporting requirements for strata schemes.

We received more than 600 surveys and submissions from people who live, own and work in the strata sector. Overall, 91% of survey respondents were either strata residents or owners which was an excellent outcome given the new reporting requirements will impact and benefit these community members the most.

The online consultation showed that respondents were generally positive about the proposed changes:

• 78% either ‘strongly agree’ or ‘agree’ that their strata schemes can provide the reporting information required
• 88% felt that between 1-3 months after the AGM was enough time to do the reporting
• 83% felt that 28 days was enough time to update any changes to the reported information
• 76% felt that there would be ‘no to low’ financial impact from the new $3 per lot fee.

The feedback received was used to finalised the Strata Schemes Management Amendment (Information) Regulation 2021 which was introduced on 15 December 2021

The new reporting requirements will start on 30 June 2022. Find out more about the information to be reported. More details on the reporting requirement will be available along with a link to the online reporting tool closer to the date.