Strata Schemes Management Act 2015 (NSW)
Strata schemes must comply with budget, AGM, sinking fund + management requirements.
mediumcurrentannual
Who must comply
NSW owners corporations + strata managing agents.
What triggers it
Strata scheme registration.
When due
Continuous; annual AGM cycle; 10-year capital works plan.
Evidence required
AGM minutes + financials + sinking fund balances + records.
Max penalty
—
Summary
SSM Act 2015 (NSW). Owners corporations must hold AGM, prepare budgets, maintain sinking fund + administrative fund, keep records 7 years, lodge initial period notice + many other ongoing obligations.
Enforced by
Topics
stratareal-estate
Related obligations
- NSWUnderquoting prohibition (NSW Property and Stock Agents Act 2002)NSW real estate agents must not underquote — Maximum penalty $22,000.
- CWLTHHold a current real estate agent licence (state-specific)Selling agents must hold a current licence issued by their state fair trading regulator.
- VICUnderquoting prohibition (Vic Estate Agents Act 1980)Vic real estate agents must not underquote a property sale price.
Frequently asked questions
- Who must comply with Strata Schemes Management Act 2015 (NSW)?
- NSW owners corporations + strata managing agents.
- What triggers Strata Schemes Management Act 2015 (NSW)?
- Strata scheme registration.
- When is Strata Schemes Management Act 2015 (NSW) due?
- Continuous; annual AGM cycle; 10-year capital works plan.
- What evidence is required for Strata Schemes Management Act 2015 (NSW)?
- AGM minutes + financials + sinking fund balances + records.
Source: https://www.fairtrading.nsw.gov.au/housing-and-property/strata-and-community-living. Rules Mate is not a law firm. Always verify against the live regulator source before acting.