Opinion by Hamish Geddes What happened (if you weren’t aware) For developer Australia Avenue (Ecove) and Icon Constructions (Icon), Christmas was certainly not a welcome end to what was one of the busiest years in the Australian construction industry. On 24 December 2018, what appeared to be a large crack in the internal plasterboard lining
Under the building bond and inspection scheme (the Scheme) developers need to lodge a building bond that is equal to 2% of the contract price for any residential development that is greater than 4 storeys high. The bond will need to be lodged with the Department of Finance, Services and Innovation (the Secretary). For more
The NSW Government’s latest response to the numerous combustible cladding tragedies both overseas and in Australia came into effect on 22 October 2018. The impact of these regulations is as follows: Aluminium composite panel ban Prior to the 22 October regulations coming into effect, the NSW Government took steps to limit the use of combustible
Under the building bond and inspection scheme (the Scheme) developers will need to lodge a building bond that is 2% of the contract price. The developer will need to lodge the bond to the Department of Finance, Services and Innovation (the Secretary). Unfortunately, this has created an incentive for developers to undervalue the contract price
How to review a decision under the Strata Schemes Management Act 2015. A decision to review a decision under the Strata Schemes Management Act 2015 (NSW) (the Act) may have significant implications to parties involved in the strata scheme. For more information on the scheme, view our article here. A decision under the Act
But I built to the plans and specifications! Design defects in buildings. Developers and builders are now potentially liable for design defects in buildings, that’s the key takeaway from the recent NSW Court of Appeal decision The Owners – Strata Plan No 66375 v King [2018] NSWCA 170. A recent NSW Court of Appeal decision
Strata building defects can quickly sour the relationship between owners and builders. This creates an issue where the builder is attempting to access the building to attend to the rectification of strata building defects that are found in an inspection report. Below we outline how the strata building bond and inspection scheme (the Scheme) under
NSW Government to increase penalties for developers failing to comply with the developer defect bond obligations Developer defect bonds have only been required for 7 months, however, already changes to the law and strengthening their penalties is being discussed. The NSW Government introduced the Strata Schemes Management Amendment (Building Defect Schemes) Bill 2018 (NSW) on
The recent amendments to the Strata Scheme Management Act 2015 (NSW) (the Act) may have significant impacts to builders, developers and owner corporations. The Act replaced the Strata Scheme Management Act 1996 and applies where a developer and a builder has entered into a contract from 1 January 2018. When does the Act apply? The
I in a major shake-up to the construction industry, building defects bonds are now required for many multi storey residential developments. Builders, developers and owners corporations need to understand the significant effect this will have on projects and any contracts entered into after 1 January 2018.[1] What is the Building Defects Bonds scheme? The strata