The long awaited reforms have passed yet another hurdle in the recent second reading.
The core amendments to the act within the bill are mainly focused on improving disclosure to potential purchasers, strengthening the body corporate governance framework and increasing the professionalism and standards of the overall strata management industry.
While the reforms as a whole have full support, there are 3 main issues that have been flagged as SOP’s by National and Green’s MP’s breaking consensus, being Disclosure, Managers and Proxy Farming.
The revised Select Committee Bill goes a long way to strengthen and modernise the current Unit Titles legislation, and has been a long and hard trek. While this siloed approach doesn’t tackle everything addressed in submissions, it will certainly help with some of the challenges we face on a daily basis, and hopefully assist with the stigma the industry battles, increased density and the ever evolving landscape of development across New Zealand.
The third and final reading will be set shortly and we continue to foster these changes, working closely with the officials and will keep you posted.
