[Greens-Media] Strata title changes risk opening floodgates to developers: Greens

[John Kaye]

Strata title changes risk opening floodgates to developers: Greens

Media release: 15 September 2012

Changes to strata title arrangements have to be carefully scrutinised to
protect owners from developers seeking a quick profit, according to Greens
NSW John Kaye

('Law may force flat owners to sell up' Sydney Morning Herald, 15 September
2012,  page 1, http://j.mp/OpteQt)

Dr Kaye said: "There's no legislation yet but some of the proposals
emerging from the government's consultation are all about allowing
developers bully their way in to strata corporations and strip unit owners
of their sole asset.

"Changing the law to allow a developer to get their hands on an apartment
block after a majority or 75 percent vote of the owners would see many
people forced to sell their most important asset.

"For many people, their strata title is their life's savings. We cannot
support any move that would see it ripped away by a developer.

"Fair Trading Minister Anthony Roberts needs to prove to the community that
he is not in the protect of the property industry by coming up with a set
of strata title laws that protect apartment owners from predatory
developers," Dr Kaye said.

For more information:  John Kaye 0407 195 455

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John Kaye
Greens NSW MP
phone: 0407 195 455
web: www.john.nsw.greens.org.au
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