The property industry in Australia has become so popular and competitive this year with property prices increasing in all states. For this reason, many are choosing to renovate project buildings rather than build new or buy ready to move in properties.
However, in Strata communities approvals may need to be granted before you commence.
If you are going to renovate there are several things you need to be aware of.
In New South Wales, there are three categories of renovations for strata properties. These include cosmetic work, minor renovations, or major renovations.
Owners can undertake cosmetic work in their strata property without approval. This covers work such as installing nails or screws, interior painting, and filling minor cracks in internal walls.
For minor renovations, owners need the approval of over 50 per cent of votes in their favour. Minor renovations include, renovating kitchens, changing internal walls, installing or replacing wood or other hard floors, and installing a clothesline or reverse cycle aid conditioner.
For Major renovations, the work requires a special resolution vote. Then the owner must give the Owners Corporation at least 14 days written notice before works commence.
Major renovations include, structural changes, waterproofing, changes affecting the outside appearance of the property and works that require approval under other laws (e.g. council approval).
If you would like more information specific to your scheme, contact your Owners Corporation Manager directly.