Strata reform failure leaves apartment owners at the mercy of predators
The Allan government's response to a review of the strata sector has been criticized for lacking necessary reforms. The review highlighted issues such as unfair contracts and hidden commissions affecting strata owners. Recommendations for improvement, including a ban on commissions from insurance companies, have yet to be acted upon.
- ▪The review aimed to address dishonest business practices and ensure fairness for strata owners in Victoria.
- ▪Management companies have been found charging unlawful fees and pocketing hidden commissions.
- ▪The current regulatory framework is deemed inadequate, necessitating significant reforms.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.