Opinion
There’s more trouble coming for apartment owners. Here’s why
The Netstrata insurance scandal rocked the strata management industry in NSW but that’s just the beginning as an independent inquiry starts to dig deeper.
Jimmy ThomsonContributorStrata management in NSW is in turmoil after an ABC TV expose in March alleged that the strata managing giant Netstrata has been benefitting from significant hidden income via its insurance subsidiaries.
Now the NSW Strata Commissioner and Fair Trading have announced an independent inquiry into Netstrata’s processes. This will run in parallel with an internal inquiry by the strata managers professional body, the Strata Community Association.
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