OCN in the Media

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Taxpayers paid $200m last year to prop up government fund against dodgy builders

2020-08-31T17:16:18+10:00

18 December 2019 Taxpayers forked out more than $200 million last year propping up a NSW government insurance fund that offers consumers protection against dodgy builders in an industry so broken that private insurers have fled the market. And in an effort to bring taxpayer liabilities that have topped $600 million under control, the Government has proposed that compulsory insurance premiums on some new homes and renovations will almost double within [...]

Taxpayers paid $200m last year to prop up government fund against dodgy builders2020-08-31T17:16:18+10:00

One year on, Opal Tower still a construction zone

2020-08-31T17:16:23+10:00

18 December 2019 On Christmas Eve last year, Jenny (not her real name) carried her baby down to the ground floor after being told to evacuate Opal Tower, moments after she heard a loud bang while she was in her apartment. "They told us all to "back off, back off"," she said. "The police said the building was going to fall down and that we had to walk away from the building." [...]

One year on, Opal Tower still a construction zone2020-08-31T17:16:23+10:00

‘Six-year nightmare’: Shattered investors left with no one to sue for faulty units

2020-08-31T17:16:34+10:00

16 December 2019 A "defective" business model that experts say has reached epidemic levels in the NSW building industry is leaving investors financially broken. Aidan Ellis, 75, was stunned when the developer and builder of his apartment block could "walk away scot-free" after his companies went into liquidation midway through a battle over defects estimated to be worth in excess of $2 million. The "six-year nightmare" has forced Mr Ellis into [...]

‘Six-year nightmare’: Shattered investors left with no one to sue for faulty units2020-08-31T17:16:34+10:00

New laws to protect off-the-plan buyers

2020-08-31T17:17:11+10:00

1 December 2019 NSW home buyers who purchase off-the-plan will be able to terminate contracts or claim compensation if they're materially impacted by changes made to their properties, under proposed changes announced by the state government. Property Minister Victor Dominello on Saturday announced the reforms aimed at creating stronger protections for off-the-plan buyers. "Buying off-the-plan has become increasingly popular. But there are risks involved, and buyers can't just rely on lavish [...]

New laws to protect off-the-plan buyers2020-08-31T17:17:11+10:00

Apartment buyers holding out for a hero, says MP

2020-10-07T16:17:03+11:00

13 NOVEMBER 2019 The job of fixing the construction industry is too big for  just one person and NSW needs a standalone building commission, not just a single commissioner, to fix the state’s construction industry Greens MP David Shoebridge. And apartment owners have called on the goverment to close the loopholes that allow the developers of sub-standard buildings to shut up shop before they have to repair defects, and even “phoenix” [...]

Apartment buyers holding out for a hero, says MP2020-10-07T16:17:03+11:00

Trust issues: Can platforms like Airbnb regulate themselves?

2020-10-07T16:18:06+11:00

9 NOVEMBER 2019 Australian residents' groups have rejected Airbnb's promise to overhaul verification procedures and prevent unauthorised parties at properties booked through the site, saying community trust issues caused by the rise of short-term rentals can only be fixed by independent regulation. "We would like to see a strong, effective public record of everyone participating [in the space]. To let your property, you'd need to be registered," chair of the Owners [...]

Trust issues: Can platforms like Airbnb regulate themselves?2020-10-07T16:18:06+11:00

NSW building reforms ‘step one of 100’ to restore confidence in sector

2020-10-07T16:18:56+11:00

24 OCTOBER 2019 The government's latest plan to lift construction standards across NSW is a step in the right direction, but will fail to address a lack of transparency and enforcement in the sector, lawyers say. Amid rising pressure to implement large-scale reform in the home building industry, the government this week introduced the first tranche of its construction sector reforms to Parliament. Owners Corporation Network executive officer Karen Stiles said [...]

NSW building reforms ‘step one of 100’ to restore confidence in sector2020-10-07T16:18:56+11:00

‘Lifting the standards’: NSW government unveils reforms to construction industry

2020-10-07T16:19:44+11:00

23 OCTOBER 2019 Homeowners who buy defective apartments will have an easier path to pursue damages under the Berejiklian government's response to widespread problems in high-rise residential buildings. The long-anticipated building reforms, released on Wednesday, will also create a new registration system for the industry, while developers will be forced to comply with "declared" building designs. But the reforms will only apply to buildings yet to be constructed. The Owners Corporation [...]

‘Lifting the standards’: NSW government unveils reforms to construction industry2020-10-07T16:19:44+11:00

Territory apartment owners demand time limits on building caretaker contracts

2020-10-07T16:20:43+11:00

20 OCTOBER 2019 Laws that allow property developers to appoint their relatives to long-term building caretaker contracts should be changed to better protect unit owners in the NT, the Owners Corporation Network says. It comes after residents in a Darwin apartment complex raised concerns that a company owned by the wife of the building's developer was contracted to oversee cleaning, maintenance and repairs for $120,000 per year for 25 years. Under [...]

Territory apartment owners demand time limits on building caretaker contracts2020-10-07T16:20:43+11:00

Tenants lured with big bucks to sub-let properties on Airbnb

2020-10-07T16:21:39+11:00

15 OCTOBER 2019 The prospect of six-figure earnings is being used to lure rent-investors into sub-letting multiple residential properties through holiday letting websites like Airbnb – without owning any of the homes or even, possibly, the knowledge of the property owners. “How we make a six-figure income on Airbnb using other people’s properties… and how you can too!” announces a website featuring Nicole and Aaron Byerlee, the property power couple behind [...]

Tenants lured with big bucks to sub-let properties on Airbnb2020-10-07T16:21:39+11:00
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