Changes to the Unit Titles Act
The Amendment Act and Amendment Regulations have introduced a number of important changes to the Unit Titles Act 2010 and the Unit Titles Regulations 2011 (the Regulations), all of which are now in force.
The Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Act 2022 (the Amendment Act) became law on 9 May 2022.
The Unit Titles Amendment Regulations 2024 (the Amendment Regulations) came into force on 9 May 2024.
The purpose of the Amendment Act is to provide greater protections for people who buy or own unit title properties.
The Amendment Act:
- requires a wider range of information to be provided to prospective buyers and provides additional rights to buyers if these requirements are not met
- strengthens governance arrangements in relation to a body corporate
- raises professional standards for body corporate managers, and introduces a code of conduct
- ensures adequate planning of long-term maintenance projects
- introduces new dispute resolution rules and fees
- allows for greater flexibility in relation to utility interests and charges to unit owners
- gives new powers to the regulator, to improve compliance.
Commencement dates for the new provisions
The changes to the Unit Titles Act and the Regulations came into force across 3 key dates:
- Changes to support remote attendance at meetings came into force on 9 December 2022.
- Most of the changes came into force on 9 May 2023.
- Provisions that needed further regulatory development or preparation by the sector came into force on 9 May 2024.
Summary of changes to the Unit Titles Act
In this section
The Unit Titles Act and the Regulations now require sellers to provide a wider range of information to prospective buyers. They also give buyers additional rights if these information requirements are not met.
Changes to the Unit Titles Act have strengthened governance arrangements in relation to a body corporate.
The Unit Titles Act raises the professional standards required of body corporate managers, and includes a new code of conduct.
New requirements have been introduced to ensure there is adequate planning of long-term maintenance projects.
These changes are in effect as of 9 May 2024.
The Unit Titles Act provides for greater flexibility in relation to utility interests and charges to unit owners.
The Unit Titles Act gives new powers to the regulator to improve compliance.
These changes are in effect as of 9 May 2024.
