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 on ABC’s 7:30 Report. The revelations underscore a pressing need for enhanced powers and resources for the Strata & Property Services Commissioner to protect consumers effectively,” said Karen Stiles, Executive Director of OCN. “We are committed to addressing this issue directly with Minister Anoulack Chanthivong and the Strata & Property Services Commissioner. Given the limited number of just 16 inspectors to manage the extensive NSW property portfolio, OCN has noted instances of investigations into serious allegations against a strata manager that have stretched beyond two years without reaching a conclusion. We see this as an invaluable moment to advocate for the necessary changes that will ensure the safety and rights of strata residents.”

Read full media release:> 240322 Media Release – ACIL OCN UOAQ call for joint investigation into NetStrata

Related content:> https://ocn.org.au/backroom-deals-in-strata-insurance-and-how-theyre-costing-you/