The long awaited revamp to the laws around Unit Titles has taken another step forward with the recent second reading of the Unit Titles Bill…

The current law dating back to 1972 covers unit titled properties (e.g. apartments and some freestanding houses).  Parliament is set to update the legislation to make unit title developments more flexible and fix some of the shortcomings.  The new Unit Titles Bill has now had its second reading in Parliament. 

The Select Committee recommended changes to the Bill after receiving 101 written and 36 oral submissions. The changes adopted on the second reading include:

  • Making the long term maintenance scheme more flexible;
  • Changing financial monitoring and reporting provisions to lower compliance costs; and
  • An amendment to allow car parks to be treated as principal units. 

We have previously reported on the key changes to the Act proposed by the new Bill including:

  • Changes to how common property is owned;
  • Changes to who is responsible for repairing and maintaining building elements that affect more than one unit (e.g. leaks);
  • The ability to have ‘layered developments’ within one building for multiple use buildings (e.g. car-parking buildings, shops, residential);
  • Removal of the requirement for unanimous decision of the body corporate in some circumstances; and
  • Imposing greater disclosure requirements on Vendors selling Unit Titled properties.

We will keep you posted on further progress as this Bill makes its way into law.