Source: National Party
A group of property stakeholders have launched a petition urging the Government to urgently reform the Unit Titles Act, reaffirming support for the Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill, launched a year ago by National’s Housing spokesperson Judith Collins and Auckland Central MP Nikki Kaye.
“Today the Fix the Law for Apartments and Units (FLAU) group has launched a petition in the name of Charles Levin, calling on the government to urgently amend the Unit Titles Act,” Nikki Kaye says.
“Two years and one Housing Minister later, and there has still been no action from the Government in reforming the apartment sector worth more than $50 billion,” Judith Collins says.
“The Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill would strengthen the management of apartments and townhouses and address issues around a lack of transparency and inadequate long term planning.
“We must reduce homeowner disputes in multi-unit dwellings and help facilitate their resolution. For most people their home is the largest asset they have so when things go wrong there can be devastating and life-long impacts.
“The Bill aims to improve the information disclosure regime to prospective buyers of units and strengthen the governance arrangements in relation to the body corporate. It would increase the professionalism and standards of body corporate managers and ensure planning and funding of long-term maintenance projects is adequate and proportionate to the size of the complex concerned,” Judith Collins says.
“After discussions with apartment owners, property and legal organisations including body corporate chairs we know there is huge support for law reform in this area,” Nikki Kaye says.
“I would urge people to sign the petition and show their support for this rapidly growing yet poorly regulated sector.”