A top strata management firm under investigation for charging clients excessive fees is arguing for a raft of changes to the draft findings of an independent review into its business practices, before the final report is made public.
Strata firm Netstrata is trying to overturn draft findings of an independent review into its business practices.A summary of the final report is expected to be published in the coming weeks.Share article
The strata management company was permitted to argue against the findings under the terms of the enforceable undertaking it reached with the regulator, NSW Fair Trading, in May last year. For years, apartment owners and advocates have raised concerns about hidden fees, conflicts of interests, being over-charged or side-deals struck between strata managers and contractors. Our investigation into the industry needs to hear from you.
The advisory firm's compensation for undertaking the review was also capped. Netstrata initially agreed to pay $300,000 for the probe, before costs were revised to $450,000. Mr Fehon said the advisory firm had requested the regulator ask Netstrata to meet the additional cost.
Buildings Apartments Netstrata Nsw Fair Trading Mcgrathnicol Anthony Whealy Sydney Nsw
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