Member for Cook David Kempton has supported changes to Queensland’s Body Corporate laws which he says will reduce red-tape and regulation for the local real estate industry.

Mr Kempton said the changes, announced in Parliament recently, would remove unnecessary disclosure requirements, which have been causing problems for sellers.

“The changes will also mean sellers will no longer have to provide a copy of a community management statement (CMS),” Mr Kempton said.

“Last year Labor amended the Body Corporate and Community Management Act to force sellers and their agents to provide a copy of the CMS to buyers with the contract.

“Some CMS’s may only be eight pages long, but for large and developed schemes they can be up to 100 pages or more.

“While they are important, they are also technical and the Government is not convinced that their inclusion in sale contracts serves the interests of the buyer.

Prospective buyers will still be able to obtain a community management statement from the Registrar of Titles at any time as part of the normal due diligence process.

Mr Kempton said the changes have also removed the reversion process for community title schemes.
    
“This reversion process has disadvantaged many lot owners, who have been forced to pay thousands of dollars more each year in body corporate fees,” Mr Kempton said.

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