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Stricter regulations needed for strata managers

By Kevin Kelly

Strata schemes are a popular option for anyone hoping to invest in property in South Bunbury, but one law firm believes the market needs to be tightened further.

The WA state government is currently carrying out a review into the Strata Titles Act, through which it has asked for input from industry players.

Among those to offer its opinions is law firm Slater and Gordon, which highlighted several areas where improvements could be made.

Commercial lawyer with the firm Rachel Cosentino believes strata managers should be licensed in order to ensure greater protection for consumers.

She also emphasised the need for a code of conduct to be put into place, which would give customers greater assurance that their needs were being met in a professional manner.

"Among other conditions, the proposed code of conduct would require strata managers to not act fraudulently or engage in misleading conduct; not act with a conflict of duty or interest; and to maintain standards of recording keeping and provision of access to records," Ms Cosentino emphasised.

The firm also believes that strata managers must conform to minimum standards in terms of their education, accounting abilities and character if they are to be well respected in their job.

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