Does Strata Schemes Management Act 2015 (NSW) apply to real estate agents?
A computed answer from the Rules Mate applicability engine, with the exact condition, the outcome for every structure and size, and the primary source.
Short answer: Only if
Only if you act as a strata managing agent. Being in this industry makes the obligation worth checking (Industry: Real estate agents), but the trigger is a fact the industry alone does not settle.
The obligation in brief
Strata Schemes Management Act 2015 (NSW). The Strata Schemes Management Act 2015 (NSW) sets the governance duties of every owners corporation. Each scheme must set an annual budget, approved by owners at a meeting, that determines levies; keep an administrative fund for day-to-day costs and insurance and a capital works fund (formerly the sinking fund) guided by a 10-year capital works fund plan, in the standard form and reviewed at least every five years; and keep financial records, the strata roll, minutes and correspondence for seven years, electronically for records created from 11 June 2024.
Trigger: Registration of a strata plan in NSW and each annual general meeting cycle; changes to scheme contacts or the formation of a strata renewal committee.
Why real estate agents get a different answer
Rules Mate runs its applicability engine across 9 business structures and 6 size bands for each of the 35 industries it maps. For 34 of those industries the answer for "Strata Schemes Management Act 2015 (NSW)" is no. Real estate agents is one of the 1 where the answer is different: only if.
The deciding fact for real estate agents: Industry: Real estate agents; applies only if you act as a strata managing agent.
About the industry: Selling agents, buyer's agents, and property developers involved in real estate transactions. From 1 July 2026 captured by AML/CTF Tranche 2 reforms.
Compare a professional services (general) business with 6–19 employees structured as a Pty Ltd company: the obligation does not apply (Requires a trigger outside this questionnaire).
Answer by business structure and size
Each cell is the engine's outcome for a business in real estate agents with that structure and size, assuming it sells to consumers and small businesses and holds customer contact details. "Check" means the obligation turns on a fact the industry does not settle.
| Structure | No employees | 1–5 employees | 6–19 employees | 20–99 employees | 100–499 employees | 500+ employees |
|---|---|---|---|---|---|---|
| Sole trader | Check | Check | Check | Check | Check | Check |
| Partnership | Check | Check | Check | Check | Check | Check |
| Trust | Check | Check | Check | Check | Check | Check |
| Pty Ltd company | Check | Check | Check | Check | Check | Check |
| Public company | Check | Check | Check | Check | Check | Check |
| Not-for-profit (unregistered) | Check | Check | Check | Check | Check | Check |
| Registered charity | Check | Check | Check | Check | Check | Check |
| Super fund | Check | Check | Check | Check | Check | Check |
| Foreign company | Check | Check | Check | Check | Check | Check |
What the obligation requires
- When due
- Budget and levies set each year; Strata Hub annual report within 3 months of the AGM (fee $3 per lot); contact or strata renewal committee changes updated within 28 days; 10-year plan reviewed at least every five years with changes approved at the AGM; records retained for seven years.
- Evidence to keep
- Approved annual budget and levy notices; administrative and capital works fund statements; current 10-year capital works fund plan in the standard form; AGM and committee minutes; up-to-date strata roll; insurance policy and replacement valuation; Strata Hub reporting confirmation; electronic financial records, receipts, invoices and bank statements kept for seven years; strata manager's records of the functions it exercised.
- Maximum penalty
- Penalties for owners corporations and strata managing agents are set in the Strata Schemes Management Act 2015 (NSW) and related licensing law and were not restated here. Disputes about records, levies or by-laws go to NSW Fair Trading mediation and then the NSW Civil and Administrative Tribunal.
- Regulator
- NSW Fair Trading
- Jurisdiction
- NSW only
Other obligations where real estate agents differ from the norm
- Comply with Australian sanctions law + screening (DFAT): Yes
- Customer due diligence (KYC) on every customer: Yes
- Designate an AML/CTF Compliance Officer: Yes
- Detect + enhance due diligence on Domestic + Foreign PEPs: Yes
- Enrol with AUSTRAC as a reporting entity: Yes
- Hold a current real estate agent licence (state-specific): Yes
- All 26 answers for real estate agents
Questions
- Does Strata Schemes Management Act 2015 (NSW) apply to real estate agents?
- Only if you act as a strata managing agent. Being in this industry makes the obligation worth checking (Industry: Real estate agents), but the trigger is a fact the industry alone does not settle.
- Is the answer the same for every industry?
- No. For 34 of the 35 industries Rules Mate maps, the answer is no. Real estate agents is one of 1 industries with a different answer.
Related
Sources
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.