Announcement – 9 January 2018
The strata building bond and inspections scheme commenced on 1 January 2018 under Part 11 Strata Schemes Management Act 2015.
The scheme introduces a building bond and mandatory defect inspection reports for high-rise residential or partially-residential strata properties that are four or more storeys.
These changes apply to construction contracts signed (or where there is no contract and building work commences) from 1 January 2018.
Under Part 11 of the Act, NCAT can make the following orders about the new building bond and inspections scheme.
The Strata application form [PDF 238kB] has been updated to reflect these changes.
Visit the NSW Fair Trading website or more information about the building bond and inspections scheme.