The Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill has passed its third reading, ushering in a new era of strengthened protections for current and prospective apartment owners, National MP Nicola Willis says.

“The new fit for purpose Unit Titles Act gives a big green light to every New Zealander who previously may have hesitated to buy an apartment, but in future can do so with an enhanced foundation of rights and protections.

“The Bill ensures a fit-for-purpose disclosure regime for those considering purchase of a unit-title dwelling. It strengthens professional governance and management requirements for body corporates and it ensures that unit title developments adequately plan for, and fund, long-term maintenance projects.

“This Bill was improved by the Select Committee process and its passage is a great example of what MPs can collaborate to achieve across Parties.

“I want to particularly acknowledge my former National Party colleague and MP for Auckland Central, Hon Nikki Kaye whose tireless work led to the initial drafting of this Bill and its introduction as a Member’s Bill.

“It will be important that we monitor the impact of this Bill in practice, to ensure new regulations work as intended and remain fit for purpose.

“I am determined to see more New Zealanders in home ownership and I believe the modernisation of this Act is an important step towards that goal.”

© Scoop Media