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NSW Fair Trading investigation continues after Netstrata report released
Shari Driver, CEO of the Owners Corporation of Australia Ltd (OCN), notes that today NSW Fair Trading released the report from the first stage of the investigation. We note that McGrathNicol identified: "Several potential conflicts of interest not disclosed by Netstrata to its clients including the personal relationships that employees of Netstrata had with suppliers. Highly saturated use of those related entity suppliers or suppliers with whom Netstrata had a [...]
Legal Limbo in Wang Suspense
Shari Driver, CEO of the Owners Corporation Network of Australia (OCN), said that “OCN is disappointed that the NSW Civil and Administrative Tribunal (NCAT) has upheld an earlier order that temporarily stayed the cancellation of Mr Whitney Hong Wang’s strata managing agent licence.” OCN has previously heard complaints from distressed strata owners alleging that Mr Wang has engaged in inappropriate and unethical conduct. For now, this means that many owners [...]
Strata consumer groups expect a defendable government report about Netstrata
The Owners Corporation Network (OCN), the Australian Consumers Insurance Lobby (ACIL), and the Unit Owners Association Queensland (UOAQ) are all deeply concerned to hear that Netstrata may have sought to influence the outcome of the NSW Government’s investigation into alleged malpractice by Netstrata. In 2024, an enforceable undertaking was entered into by Netstrata with NSW Fair Trading to provide for a review of Netstrata (and their subsidiaries) business processes, practices [...]
New face same passion for advocacy
The Owners Corporation Network of Australia Ltd (OCN) heralded a major leadership change at its Strata Matters 2024 conference. OCN welcomed Karen Stiles into her new focus as Policy Director and Shari Driver into her promotion to Chief Executive Officer. Shari comes to OCN with a background in town planning and extensive senior leadership experience across government, private industry and not-for-profit organisations. Shari brings an in-depth understanding of the strata [...]
Consumer Groups Demand Government-Directed Inquiry into Strata Management Industry
A coalition of leading consumer advocacy associations has today called on Federal Treasurer, Hon Dr Jim Chalmers MP to initiate a government-directed public inquiry, led by the Australian Competition & Consumer Commission or the Productivity Commission, into the strata management industry. The coalition cites systemic harmful practices within the industry that compromise consumer rights and community expectations. Noting recent media reports of unethical, questionable or unlawful practices, the groups urge [...]
How apartment owners are being ripped off….
Here's today's media UPDATE ABC Four Corners:> VIEW THE FULL EPISODE HERE ABC News: How apartment owners are being ripped off> http://ABC News Daily: How Apartment Owners Are Being Ripped Off ACCC Chair calls for a ban on Strata Insurance Commissions:> ABC News today Brokers and advocates call for public strata inquiry:> Call for a public inquiryAnd in the interest of fairness, Steadfast's response:> https://www.insurancebusinessmag.com/au/news/breaking-news/steadfast-on-abc-strata-investigation-we-refute-the-allegations-504852.aspx Plus there's more Top consumer groups say [...]
NSW Budget 2024-25
MEDIA RELEASE 19 June 2024 The Owners Corporation Network of Australia (OCN) welcomes new budget funding specifically to support delivery of much needed strata reform. Strata is one of the main, if not the main, formats for improved housing supply over the short and medium term. So, it’s a good start. But more will be needed as the scope and scale of the task to improve community confidence and trust [...]
Consumer Groups Unite in Call for Increased Resourcing of NSW Strata & Property Services Commissioner
A coalition of leading consumer groups - the Australian College of Strata Lawyers, Australian Consumers Insurance Lobby, Owners Corporation Network of Australia, Retirement Village Residents Association, and Strata Community Association - has jointly urged the NSW State Government to increase funding for the Office of the Strata and Property Services Commissioner in the 2024-25 NSW State Budget. Read media release:> 240515 Joint ACSL, ACIL, OCN, RVRA, SCA Call For NSW [...]
United Call for Investigation into NetStrata Practices by Regulatory Bodies
22 MARCH 2024 In response to alarming revelations broadcast on ABC’s 7:30 Report, the Australian Consumers Insurance Lobby (ACIL), Owners Corporation Network of Australia (OCN), and Unit Owners Association Queensland (UOAQ) are jointly calling upon ASIC, ACCC, and the Strata & Property Services Commissioner of New South Wales to commence a thorough investigation into the practices of NetStrata and its associated entities. “OCN is deeply troubled by the findings reported [...]
Consumer Groups Demand Explanation from Insurers on Lack of Cover in Northern Australia
15 FEBRUARY 2024 Australian Consumers Insurance Lobby Inc (ACIL), Unit Owners Association of Queensland (UOAQ), Owners Corporation Network of Australia (OCN), and NQ Strata Action Group have collectively issued a formal request to the Insurance Council of Australia (ICA) seeking an explanation for the lack of insurance coverage offered in Northern Australia, despite the implementation of the Cyclone Reinsurance Pool (the Pool). Read Joint Media Release:> 240215 Joint ACIL, UOAQ, [...]
Owners Corporation Network Getting on Top of e-bike Fire Risk with Expert Webinar
4 DECEMBER 2023 Sunday's e-bicycle battery fire in an apartment is the most recent of several this year. OCN, which represents and supports apartment owners and residents, has been researching best practice in protecting its members from this developing risk. “We have engaged with experts including EV Firesafe, an Australian company funded by the Department of Defence, the Insurance Council of Australia (ICA), the Electric Vehicle Council and taken advice [...]
OCN Welcomes Abolition of Emergency Services Levy on Insurance Policies
16 NOVEMBER 2023 The Owners Corporation Network of Australia (OCN) congratulates the NSW Government on its decision to reform the Emergency Services Levy (ESL), announced by Premier Chris Minns today. The tax penalises those who pay insurance amid a cost-of-living crunch and at a time when worsening extreme weather means cover is needed more than ever. NSW insurance customers pay around three times the amount of state taxes than Victorian [...]
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