Momentum is building to reform the law around Unit Titles with almost 500 people lending their support to a petition calling for change, National's Auckland Central MP Nikki Kaye and Housing spokesperson Judith Collins say.
"In October, a group of property stakeholders launched a petition calling on the Government to urgently reform the Unit Titles Act 2010," Ms Kaye says.
"This petition reflects good support for the Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill that Judith Collins and I launched more than a year ago," Ms Kaye says.
The bill aims to:
- Improve the information disclosure regime to prospective buyers of units
- Strengthen the governance arrangements in relation to the body corporate, the entity responsible for the management and operation of a unit title complex (owner)
- Increase the professionalism and standards of body corporate managers
- Ensure planning and funding of long-term maintenance projects is adequate and proportionate to the size of the complex concerned
"This is particularly important for areas like Auckland Central where the numbers of multi-unit housing developments, and therefore unit titles, has increased dramatically over the past few years. It is my intention to hold a meeting of Body Corporate chairs and body corporate managers in Auckland central to discuss further steps to push for change," Ms Kaye says.
"We have worked closely with a working group of leaders within the property sector on this bill. It's widely accepted within the sector that the Act needs reform, and our bill addresses gaps that will make a huge difference.
"Unfortunately the Government hasn't picked up the Bill. Public support is crucial to put pressure to ensure there are changes," Ms Kaye says.
"The apartment sector is worth more than $50 billion and is continuing to grow," Ms Collins says.
"It's important we have robust laws in place for those who own, or want to buy, apartments.
"It's encouraging that more than 500 people have already added their signatures, and I ask that anyone with an interest in better rules for apartments and body corporates does so before January 30," Ms Collins says.
The petition can be found here.
