A 25-year contract, which was originally sold by developer Meriton and gave another company exclusive rights for property management in one of their apartment complexes, has been cancelled by a NSW tribunal.
According to The Sydney Morning Herald (SMH), this contract saw apartment owners at Acacia Gardens in Ultimo locked out of the complex’s reception area and unable to access their keys, CCTV cameras or even security control systems. Security guards were also hired to prevent them from attending a critical AGM to discuss the issues.
But in a landmark ruling at the NSW Civil and Administrative Tribunal (NCAT), Senior Member Graham Ellis SC ruled that the contract with Central Sydney Realty (CSR) was harsh, oppressive, unconscionable or unreasonable, and would therefore be terminated.
Nick Eltis, an Acacia Gardens apartment owner and secretary of the strata committee, told the SMH that he hopes this verdict will set a precedent that will help other apartment dwellers in a similar position.
“It’s been a very long road to get to the end of all this,” Nick Eltis said. “It’s been very stressful.”
“We are looking forward to moving ahead and getting our lives back to normal… We hope the precedent will make it better for other buildings and help the broader community.”
The management company, CSR, is now appealing the NCAT decision. The hearing is set for June.
Source: The Sydney Morning Herald.
