When you are looking to either buy or refinance a property, which includes an apartment, townhouse or villa that is part of a strata complex, you are usually asked to provide a Certificate of Currency.

A certificate of currency is a summary of what is included in the property insurance policy. The certificate is evidence that a lot, unit, townhouse, villa, etc, is part of the strata scheme and therefore is adequately insured by the existing strata insurance policy.

What Is Covered In A Certificate Of Currency?

The Certificate of Currency is a summary of the insurance policy that has been taken out on the property. It will typically include:

• Details of the insured party such as the name and residential address of those insured (usually the the owners);
• The policy details such as the policy number, Period of the policy i.e. commencement and expiration date and other cover in the policy such as liability to others, Voluntary Workers, Workers Compensation, Fidelity Guarantee, Office Bearers Legal Liability, Machinery Breakdown, Flood cover, Catastrophe Cover
• How much the property is insured for (which is the limit to the protection covered);

When Do You Need A Certificate Of Currency?

Typically a Certificate of Currency is needed as part of the settlement process to prove that the lot/unit is part of a strata property has current and valid insurance, and will therefore protect the interested party in the case of any damage occurring to the building structure.

Who Might Ask For A Certificate Of Currency?

Those most likely to request a certificate of currency include:

• mortgagees/lenders (Ie: Banks and finance companies),
• mortgage brokers,
• as well as solicitors and conveyancers.

You will need this document when financing or refinancing a property as the financial institution lending the money will become the “interested party” on the property. That is, they are insuring their investment in the property.

Requesting A Certificate Of Currency From Your Insurer

To request a Certificate of Currency, you will Can either contact your Strata Manager or insurance renewals team, or alternatively contact the Insurer or Broker with whom your insurance cover is bound with.. Once you have this document, you will be able to show details of what is insured and prove that the insurance is both valid and current for your lot or unit.

How Quickly Can I Obtain A Certificate Of Currency?

It’s best to request your certificate of currency as soon as you know that one is needed. Each insurance company will have different requirements and periods before they’ll be able to  issue your certificate..

Are There Different Types of Certificates of Currency?

There are two types of certificate of currency:

Generic Certificates will include the insured party details and confirmation that an insurance policy is effective and current. It will also include the names and residential or investment property addresses of the insured party.

A Noted Certificate of Currency will include extra information such as the unit or lot number, the owner’s name, and also who the interested party is (the bank or financial institution who is loaning the money).

Why Do I Need A Certificate Of Currency For A Strata Property?

When purchasing a unit in a strata property and applying for finance, the buyer’s financial institution becomes the ‘interested party’ for the property, as the financial institution is investing their money in the property. The Certificate of Currency is required as part of the settlement process, to ensure that the unit is part of a property which is protected from a loss normally covered by the strata insurance, such as a fire.

 

A financial institution will usually request a Noted Certificate of Currency, which lists them as the Mortgagee or Interested Party for the property that is being financed.

How To Check Your Home Insurance Policy

If you’re trying to find out which home insurance policy type you have in place for your property, and the level of protection of your cover, you can contact your insurance agent who should be able to provide current copies. You can also go directly to the insurance company and ask them to send you a full copy which can include the premium paid if needed.

Often when you get an insurance renewal, you may only receive a declarations page or specific provisions document detailing the policy and level of cover. If you’re still unsure, you can do things like check previous bank statements for a past payment, or even ask your lender or mortgage provider (the person, company or bank where you have your home loan, or the broker who helped you establish your home loan).

Types of Insurance Cover For Strata Properties

If you own an apartment or unit in a strata property, then you don’t need to take out separate building insurance for your individual lot as this will have been organised by your body corporate / strata corporation.

Body corporates and owners, or strata corporations are generally required by law to hold suitable building insurance for the strata complex. This means that individual unit owners shouldn’t need to take out their own building insurance, as the building complex will already be covered for the cost of repairing physical damage to the structure, as well as covering any public liability claims.

Savvy unit owners will usually take out landlord insurance. The reason for the extra coverage is to guarantee that anything within the unit is also covered should something happen. This will include contents such as furnishings and furniture, carpets and blinds, and so forth. This is really important if you are renting out your property as it will cover you for the common risks associated with having a tenant in your property. Some of the items covered by landlord insurance include:

• Theft or burglary by tenants
• Damage or vandalism to your property by tenants
• Loss of rent due to tenant default
• Legal expenses involved in evicting a tenant.

If you don’t have landlord insurance, then you could potentially be liable for repair costs to your property should your tenants (or their guests) cause damage.

If you’re not sure of what level of cover you have,or if you have enough coverage, then a common rule of thumb is that ‘strata insurance stops at the apartment door’. This means that everything within your unit (other than some permanent fixtures such as stoves, toilets, bathtubs, etc) must be covered separately.

Maintaining a healthy living environment in your strata scheme is crucial for the well-being of residents and the structural integrity of the apartments. Common issues that can compromise this environment are rising damp, mould due to poor ventilation, and mould resulting from water ingress.

 

Understanding these issues and implementing best practices for prevention is essential for owners corporations and residents alike.

 

Rising Damp: Causes and Consequences

 

Rising damp occurs when moisture from the ground travels upwards through the walls of a building. This phenomenon is typically caused by the failure of a damp-proof course (DPC) or the absence of one altogether. Over time, rising damp can lead to structural damage, decay, and an unhealthy living environment.

Signs of rising damp include:

• Damp patches on walls, often near the skirting boards
• Peeling paint or wallpaper
• Flaky Or bubbling plaster
• Damp or wet patches on the walls
• Salts and mineral deposits on walls
• Damp or Musty smells or odours
• Black mould on the walls

 

Mould Due to Poor Ventilation

Mould growth is a common issue that arises throughout buildings in the winter months due to inadequate ventilation. When indoor air is not properly circulated, moisture from everyday activities such as cooking, showering, and even breathing can accumulate, creating an ideal environment for mould spores to thrive.

Indicators of mould due to poor ventilation may include:

• Black or green spots on walls, ceilings, and other surfaces
• A persistent musty smell
• Increased allergy or asthma symptoms among residents

Mould Due to Water Ingress

Water ingress refers to water entering the building through leaks or cracks in the structure. This can be caused by faulty roofing, damaged plumbing, or poor building maintenance. When water ingress occurs, it often leads to mould growth in hidden areas, making it more challenging to detect and address.

Signs of mould due to water ingress may include:

• Staining or discoloration on walls or ceilings
• Damp or wet spots that do not dry out
• Visible mould in hidden areas such as under carpets or behind walls

Best Practices for Prevention

Preventing rising damp, mould due to poor ventilation, and mould from water ingress requires a proactive and comprehensive approach. Here are some best practices for strata buildings:

1. Regular Inspections and Maintenance

• Conduct regular inspections of the building’s exterior and interior to identify signs of dampness or water ingress.
• Ensure that the damp-proof course is intact and functioning properly.
• Repair any cracks or leaks in the structure promptly.

2. Improve Ventilation

• Install and maintain proper ventilation systems in high-moisture areas such as bathrooms, kitchens, and laundries.
• Encourage residents to use exhaust fans and open windows regularly to facilitate air circulation.
• Consider the use of dehumidifiers in areas prone to high humidity.

3. Address Water Ingress Promptly

• Regularly inspect and maintain roofing, gutters, and downpipes to prevent water from entering the building.
• Ensure that plumbing systems are in good condition and repair any leaks immediately.
• Seal any gaps or cracks in the building’s structure that could allow water ingress.

4. Implement a Moisture Management Plan

By adhering to these best practices, strata buildings can significantly reduce the risk of rising damp, mould due to poor ventilation, and mould from water ingress.

Proactive maintenance and maintaining a detailed record of inspections, maintenance activities, and any issues identified to track progress and ensure accountability.

If you have anything to do with strata schemes in NSW, you’ll know the term ‘special levy’ pops up from time to time.

In fact, you’ve probably scratched your head over the term, special levy once or twice especially if you live in a strata scheme and you’re part of an owners’ corporation.

So what is a special levy? We’re taking this opportunity to cut through the jargon and give you a no-nonsense understanding of special levies in NSW strata schemes.

You can pay your levies or special levies via My Portal.

Before We Dive into What a Special Levy Is…

Let’s get a Handle on Some NSW Strata Scheme Basics…

In a nutshell, a strata scheme is where multiple property owners share a building or development.

Each owner has their own slice of the pie, that’s their individual lot; think apartment, commercial space, or parking spot. They then share the responsibility for the common areas (like gardens, hallways or the pool) with all the other owners. Owners pay quarterly levies or strata levies so this can happen.

Simple, right?

What is the Owners’ Corporation?

The owners’ corporation are the team of people responsible for managing and keeping an eye on common areas. It’s made up of all the owners in the scheme who band together to make decisions about important stuff, like maintenance, repairs, and more.

Special levies need to be approved by the majority of the owners’ corporation.

What Are Strata Levies?

Before we get into the nitty-gritty of special levies, let’s break down the different types of strata levies in a strata scheme.

There are three types of strata levies and they are:

Administrative Fund Levies

Administration fund levies are your regular quarterly levies. They cover day-to-day expenses like property maintenance and insurance premiums; the things that keep the place running without you having to think about it.

For many strata schemes this includes:

• Regular maintenance of common property (because you’ve got to keep things clean).
• Insurance to make sure everything’s protected.
• Recurring expenses like electricity bills, pest control, and bank fees.

Keep in mind this doesn’t include bills for your individual property, only those for amenities and common spaces you and other owners share.

The administrative fund strata levies keep the wheels turning and ensure your strata community is in the best shape possible.

Capital works fund levies (previously known as a sinking fund)

Think of the capital works fund as a rainy-day fund.

The capital works fund budget covers necessary and reasonable capital expenditure for the year ahead. It’s like your savings bucket for the strata community spending plan.

The capital works fund isn’t just about the here and now; it’s about the future. It needs to have enough money tucked away to handle expenses that might pop up beyond the current financial year.

For instance, if your owners’ corporation knows that in a few years, it’s time to give the common areas a fresh coat of paint or spruce up the car park, the capital works fund is where this money is likely to come from.

 

Special levies

Special levies come to the rescue when unexpected expenses come up, and Owners Corporation does not have the funds or insurance just can’t cover it all.

Picture this: Your owners’ corporation faces a burst pipe crisis in the car park or the entire air conditioning system in the building decides to throw in the towel. These are the moments when special levies are called into action.

Special levies are not part of your regular financial plan, so they’re payable as soon as the need arises. Special levies are like your emergency fund; there when you need them most.

So what is a special levy?

Imagine the administrative fund and capital works fund (previously known as the sinking fund) as your strata scheme’s bank account (like a regular savings account). You’ve got money stashed away for everyday expenses and some set aside for future plans.

But what if there’s an emergency project or an expense that wasn’t on your budget radar?

That’s where the special levy steps in. It’s like the emergency fund you never knew you needed.

Special levies are called on when the regular levies fall short of the financial requirements you need for an unexpected situation.

Burst pipes, damaged roofing, electrical mishaps—you name it, special levies are there for serious problems that needed to be fixed yesterday.

Special levies can also be useful for future planning, for those big projects you and your fellow homeowners would like to see when it comes to services and facilities. Things like a new pool, electric car charging stations or new equipment for the building’s gym.

Here’s why a special levy is so handy:

• It gives all owners a say: The special levy gives you a voice in deciding what services and facilities you want in your community. The majority of all owners need to vote for the special levy before it can go ahead.
• Financial flexibility: You can finance exciting upgrades and improvements without committing to higher site fees forever.
• Turning dreams into reality: With the special levy, you’re not just dreaming; you’re making things happen.
• Boosting home value: Better services and facilities can increase the value of your home. So, it’s a win-win for everyone in the community.

When do you initiate a special levy?

No one likes unexpected expenses, especially ones that require you to dip into your pockets. But they’re an essential part of strata life, designed to ensure your strata complex not only survives, but thrives.

So, when do you need to crack open that special levy piggy bank? It all comes down to safety, essential repairs needed in your strata scheme or that special project your community has been planning.

But anything posing a threat to your strata community like the pot-holed pathways or amenities failing statutory safety standards? Well, those things can’t wait. That’s when special levies are able to save the day.

What must be covered in a special levy notice?

A special levy notice guides you through the process of bringing exciting changes to your strata community. So, what needs to be included?

• Putting it in writing: First things first, it’s got to be in writing. This notice isn’t just a casual chat; it’s a formal document that spells out the plan.
• Clearly describing the plan: The notice clearly describes what’s on the table – whether it’s a new service, a shiny facility, an upgrade, or a needed improvement.
• Show me the money: You’ll see the total amount of what’s needed and when. Will it be in one lump sum or spread out in convenient instalments? You’ll find all the details in the notice.
• Dividing the pie: Ever wondered how the costs are shared? The notice breaks it down for you. You’ll see exactly how much each homeowner needs to contribute. It’s all about contributing equal shares for the amount that you own. Fair’s fair!
• The vote: Last but not least, the notice tells you how you can have your say. It’s like getting your very own ballot. You’ll learn how to cast your vote and be part of the decision-making process.

 

How is a special levy passed?

There’s a process to follow, and it’s all laid out in the Strata Schemes Management Act.

Here’s what happens:

• First, call a General Meeting: The first step is to discuss and propose the special levy at a general meeting of the owners’ corporation. This means that all owners will get to participate and have their say in the decision-making process.
• Ordinary Resolution: To make the special levy official, you need to pass an ordinary resolution. That means you’ll need a majority vote (more than 50%) from eligible owners to give the green light to the levy. Homeowners who don’t vote are deemed to be against the proposal. It’s all about making decisions together through a democratic process.

 

What if I’m not on board with the approved levy proposal?

Enter the NSW Civil and Administrative Tribunal. It’s like the referee of strata disputes, and it’s got the authority to step in. They’ll listen to both sides of the story and make a call – either giving that special levy the green light overturning the decision.

Who is the special levy paid to?

Your special levy payments go into the trust account held by your strata managing agent. The funds must be used for their intended purpose. Any money leftover can be addressed in a future meeting.

Exploring alternatives to a special levy

While special levies are a necessary part of strata schemes, there are other ways to tackle unexpected expenses without immediately resorting to levies. These can include:

• Shifting funds: Sometimes, your strata scheme might have enough money sitting in the bank, but it’s not allocated to the right fund (administrative fund or capital works fund). In this case, you can juggle money between the two, with the condition that you pay back the borrowed amount within three months.
• Strata finance loans: When neither the existing funds nor fund-shifting can cover the expenses, you can explore the option of taking out a strata finance loan. These loans provide the capital needed for body corporate management to complete essential projects promptly, avoiding potential cost blowouts and keeping your strata complex shipshape.

The owners’ corporation and the special levy

To make sure the owners’ corporation are all on board with special levies, here are some tips:

• Keep It transparent: Talk openly with all owners about why a special levy is needed, where the money’s going, and how it affects everyone’s wallet (both now and in the long run).
• Budget well: Crunch those numbers to figure out exactly how much is needed for the special levy. Nobody likes surprises when it comes to cash.
• Pay on time: Timely payments for special levies are crucial to keep the strata scheme’s financial wheels turning smoothly.
• Stay legal: Follow the Strata Schemes Management Act and other rules when it comes to special levies. Avoid legal hiccups by playing by the book.

So What is a Special Levy in a Nutshell?

Nobody loves parting ways with their hard-earned cash, especially when it comes to unexpected bills or expenses like a special levy in a NSW strata scheme. But hopefully after reading this you’ll have realised special levies are not the bad guy here.

A special levy is your safety net, ensuring that your strata community remains safe and your residence is a functional and attractive place to call home.

Special levies might not be the most glamorous part of strata living, but they’re undeniably essential for maintaining your safety and lifestyle—ensuring your strata complex stands strong for years to come.

Let’s face it – when we hear the words ‘strata levy’ or ‘strata fees,’ they often conjure up images of tedious financial matters—like what could be worse than sorting through a pile of paperwork on a Saturday afternoon? But while the topic of strata fees often gets a bad rap, they play a crucial role in maintaining the health and well-being of your strata property.

So what are strata fees? We’re going to explain the often misunderstood concept of strata fees (or strata levies), uncover what they include, and discuss why they’re an essential aspect of managing strata schemes.

What are strata fees?

Strata levies, also known as strata fees, are the financial pulse of your strata property. They’re recurring payments made by property owners within a strata scheme, but they’re far from the mundane fees you might associate with everyday expenses.

Think of strata levies as a collective investment by the owners’ corporation into the well-being of your shared or common property in your strata community.

Who pays a strata fee and how are strata fees calculated?

In a strata scheme, individual lot owners pay strata fees or levies to the body corporate.

The fee amount is often based on the value of each unit (aka unit entitlement), with larger units paying more. Each year, at the Annual General Meeting (AGM), the committee proposes a fee structure for the following year, which owners vote on.

Depending on the body corporate’s rules, levies can be due monthly, quarterly, or annually.

What is the average strata fee

If you’re in NSW and part of a small-scale body corporate, you might be looking at around $1,200 to $2,200 per year.

But if you’re living it up in a sprawling apartment complex with all the amenities you can dream of, then your annual levy could climb to a heftier $8,000 to $10,000 or even more. Think of it as the premium package with all the extras.

And if you’re in a townhouse? Your strata fees are often a bit easier on the wallet compared to those in apartments.

But what do average strata fees cover? Let’s break it down:

1. Management costs

A strata fee covers the cost of hiring a strata management company or strata manager.

A strata manager (or strata company) is responsible for overseeing daily operations, handling administrative tasks, and ensuring everyone in your strata scheme is adhering to the relevant strata management acts and regulations. This includes making sure the owners corporation pay strata fees and collecting unpaid strata fees.

2. Maintenance of common property

Strata fees cover the ongoing care and repair of common property in your strata plan.

Regular maintenance efforts to keep your shared amenities at the top of their game (and maintain the value of your strata building) can only happen with the payment of strata fees.

3. Sinking Fund for a Rainy Day

Life is unpredictable, much like the weather.

Just as we’d all like to set aside savings for unforeseen events, strata levies contribute to a capital works fund or sinking fund.

This financial cushion is ready to cover significant future expenses such as a roof replacement or a fresh coat of paint for your property’s exterior. A sinking fund is all about being prepared and planning for the future. It’s your safety net for future expenses that might pop up beyond the current financial year.

4. Strata Insurance

Think of strata insurance as the ultimate protection plan for your property.

A portion of your strata levies goes toward this insurance, which typically covers the building’s structure and common areas. It’s your safety net against damage or liability issues that may arise.

The best part? The insurance premium is distributed among all owners in the strata scheme, ensuring that it doesn’t strain anyone’s budget.

5. Emergency and special levies

Life sometimes throws curveballs. In such cases, additional levies might be imposed to cover sudden or emergency expenses that exceed the budgeted strata levies. Special levies can also be used to cover expenses for bigger dream projects like installing electric car charging stations or giving the pool a complete overhaul.

These levies are typically decided upon through a vote among the owners corporation, ensuring that everyone has a say in how costs are managed.

When the Federal Treasurer Jim Chalmers handed down this year’s budget in mid-May 2024 it looked like not much change for apartment owners at first glance. At CNG Property one of our core values is to find ways to save you money, so we delved a bit further, we have put together a snapshot for you on where you may win or lose financially in the coming year.

What you need to know

• Anyone with a mortgage will be glad to see that inflation is expected to stay around 3% (lower than previously forecast) which may slow the focus on mortgage interest rate increases.
• If you are an owner occupier and still working you may benefit from the increase in take home pay from July 2024 coming from the Stage 3 tax cuts. The tax thresholds were amended slightly, however, most individuals can expect to see at least a $2000 yearly reduction in their tax from July.
• Whether you are still working or not, you will benefit from cost of living relief via a $300 energy bill rebate to all households. For those of our customers where specific plan discounts have been negotiated this rebate will be added to those prices, lowering your outlay even more.
• Talking about energy bills, there will be a focus on clean energy over the next 11 years. There will be support for the manufacturing of solar batteries and other technologies of lean energy and manufacturing innovation with funding of $1.4 billion. This may mean that the cost of solar energy installation and maintenance for apartments will continue to become more affordable.
• If you are an apartment investor with rental income from a property deemed to be in the community housing sector you will benefit from a 10% increase in the Commonwealth Rent Assistance scheme over 5 years which helps address rental affordability for low income households.
• For those customers who are owners or investors residing overseas, you may wish to check with your local financial advisers on the implications for you from the changes to the Foreign Resident Capital Gains Tax Regime.

On 10th October 2023, the Strata Legislation Amendment Bill 2023 was introduced, proposing various amendments to the Strata Schemes Development Act 2015, Strata Schemes Management Act 2015, the Community Land Management Act 2021, and the Community and Development Act 2021.

Although is expected to change as it passes through the Legislative Council and Legislative Assembly, the amendments have been previously reported, and significant modifications are unlikely to occur. Here are some notable changes to the current legislation:

 

Strata Schemes Development Act 2015

 

Strata Renewal

 

Proposed Changes to Strata Renewal Committee Operations

The following changes have been proposed to the Strata Renewal Committee’s operations:

Proposed changes to strata renewal laws include extending the committee’s operation for two years, allowing the court to order renewal even if preliminary steps are not fully compliant, clarifying dissenting owners’ cost orders, and allowing cost orders against dissenting owners in certain circumstances.

 

Subdivisions

This amendment proposes avoiding the need to review the unit entitlements for the entire strata scheme where a subdivision involves only a small amount of common property.

Strata Schemes Management Act 2015

 

Strata Managers

Managing agents must notify their owners’ corporation three months before their term ends but not earlier than six months before.

Original Owner

The original owner has 14 days instead of 48 hours to supply specified documents before the first annual general meeting.

Strata Committees

The committee can be appointed outside of an AGM, and the threshold to remove a committee member has changed to an ordinary resolution, with a 12-month bar on reappointment.

The committee will also consider an interest disclosure by a committee member.

 

The notice period for Annual General Meetings is proposed to be 14 days, rather than the current 7.

Levies

The proposed amendment to section 76 would allow an owners corporation to determine within 3 months whether money or part of the money should be reimbursed to the capital works fund or administrative fund. Currently, there is no discretion. Additionally, the notice time for levies relating to urgent works may be shortened from 30 to 14 days to address serious or immediate threats to health and safety.

Multiple Quotes

The proposed amendment would require all strata schemes, not just large ones, to obtain two quotes from unrelated entities for works exceeding $30,000.

Restricting Pets and requiring Bonds

Recent amendments clarify that pets cannot be restricted and a bond cannot be required for pet approval. The changes also specify acceptable proof of an animal being an assistance animal.

By-laws

An owners corporation can consolidate their current by-laws by special resolution even where they do not have any change of by-laws to register.

Records

Specified records of the owners corporation (including strata rolls) are to be kept in electronic form six months from when this amending bill becomes law.

Proxies

The restrictions on the number proxies a person can hold are extended to apply to votes held by company nominees and powers of attorney.

Two Lot schemes

Amendments have been made for two-lot schemes, including changes to the original owner’s voting power reduction and the removal of the need for a resolution to pursue a breach of a by-law.

Community Land Management Act 2021

The amendments to the Community Land Management Act 2021 include similar changes to the Strata Schemes Management Act. They cover various aspects such as committee member election and removal, notice of expiring agency agreements, repayment of funds used for expenses of another fund, shorter levy notice for urgent works, two-quote requirement, restrictions on pet ownership and bonds, consolidation of by-laws, extended notice period for AGMs, and limitations on company nominees and powers of attorney.

These changes to the Strata Legislation aim to improve the operations and management of strata schemes and Community Land Management in New South Wales.

The amendments seek to address several aspects such as

• strata renewal committee operations,
• subdivisions,
• strata managers,
• original owners,
• strata committees,
• annual general meetings,
• multiple quotes,
• by-laws, records,
• proxies,
• two-lot schemes,

The proposed changes are expected to address common issues and concerns in the Strata Management industry, ensure transparency and accountability, and protect the interests of both owners and tenants.

While the bill is not yet passed, it is hoped that its implementation will lead to more efficient and effective strata management in New South Wales.

13 October 2023

Lilla Kelemen, CNG’s Chief Customer Officer has been appointed as the new Chief Executive Officer for the CNG group along with Paul Culbi, Managing Director of Jamesons East, Sutherland Shire and Kooper & Levi, who moves into the newly created role of Group Licensee and Chief Operating Officer.

Current CEO Michael Vumbaca will take on the elevated role of Executive Chair of the wider CNG Property Group, which will continue to be family-owned.

Lilla has extensive experience leading diverse teams in service organisations across multiple industries to improve service delivery using technology solutions. She is known for her passion and dedication for building scalable and sustainable customer-centric organisations and cultures.

“Lilla has been instrumental in the development of our vision, client experience improvements and customer-centric strategy over the last two years. I am excited for the cross-industry knowledge that she brings and look forward to her leading our teams to deliver on our promise of making our customers Happier at Home driven by CNG’s investments in people, partnerships, and technology,” said Michael Vumbaca.”

In response, Lilla remarks: “I am thrilled to be leading this new phase of our growth and transformation to excel in meeting ever-changing customer and market demands. CNG and Jamesons is built on 60 years of dedication to professional excellence and customer service on a mission to leave our customers building’s in a better place.

It is an honour to inherit this legacy that continues to be the foundation for our strategy moving forward. I also look forward to working closely with Paul in his new role as we continue to shape standards across the sector”

Lilla will be supported by Paul Culbi, a Jamesons and strata industry veteran known for his dedication to the business, his profession and desire to continuously improve our industry’s professional standards.

Michael said, “Paul’s thoroughly deserved appointment highlights his passion for professional excellence in strata management and will ensure that all our clients and teams continue to benefit from his legislative and technical expertise and high-quality standards in delivering managing strata schemes.”

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