I welcome the NSW Productivity and Equality Commission's report examining conflicts of interest in remuneration for strata managers and the options it has put forward for reform.
Strata managers play an important role in supporting apartment and commercial buildings across NSW, and it is critical that their remuneration arrangements align with the interests of owners corporations and apartment owners.
The report highlights longstanding concerns about transparency, trust and competition in the strata sector, and presents a range of options to address commissions and other conflicted payments, while seeking to protect consumers and improve outcomes for strata communities.
The Government will now carefully consider the Commission's findings and recommendations, including the potential impacts on owners, strata managers and the broader industry.
