Minister for Building Issues Clayton Cosgrove says a comprehensive review of the Unit Titles Act 1972 is being driven by big changes in the types of buildings New Zealanders live and work in. “The fact there will be half a million people living in apartments, townhouses and high-rise buildings in Auckland in 50 years’ time, shows the review’s importance.
“The Act impacts on the growing number of New Zealanders who do not live in three-bedroom homes on quarter-acre sections. It is a seriously outdated piece of legislation that no longer meets the needs of users, or owners, of multi-unit residential or commercial buildings,” Mr Cosgrove says.
The document’s proposals include redefining the responsibilities of bodies corporate and unit owners, suggested improvements to decision-making and dispute resolution processes, changed definitions for common property and unit entitlement, and enhanced consumer protection measures.
“These and other proposals, including possible mandatory long-term financial maintenance and repair planning by bodies corporate and mandatory information disclosure by developers, bodies corporate and unit sellers, came out of the initial public consultation early last year,” Mr Cosgrove says.