15/11/2019
Whilst there has been some negative news about poorly constructed apartment blocks, thankfully they are in the minority. Every industry has their 'bad eggs' and hopefully planned legislation will force them out. In NSW, projects signed after 1/1/219 and above 3 levels, have to lodged a surety bond of 2% of the build contract value with NSW Fair Trading to cover the costs to rectify any defects within the first 2 years after completion and before handover to the new owners. In that 2 year period, the project will be surveyed twice by an independent licensed inspector and the builder must rectify or the costs will be taken out of the surety bond. This step will further w**d out the 'bad eggs'. Kerry Henry, Director
