Real Estate Board wants tighter regulation of gated communities
Published:Wednesday | March 7, 2018 | 12:00 AM
The Real Estate Board of Jamaica and Commission of Strata Corporations, both headed by Sandra Watson Garrick, want gated communities to face more stringent oversight.
The agencies are now pushing for similar laws governing stratas for gated residential complexes, which could potentially include the power of sale over property whose owners breach community rules and fail to pay maintenance fees.
The expanded regulation of stratas was effected in 2013, under the Strata (Titles) Act, and since then, the Real Estate Board has reported a rise in applications for the forced sale of residential units under the new powers granted to strata executives.
The law has resulted in "greater accountability and individual owners are empowered to demand their rights," Watson Garrick said.
The board is now engaged in consultations with communities islandwide regarding the proposed legislation for gated complexes. The agency still needs Cabinet approval for the drafting of the legislation, which eventually has to be passed by Parliament.
The Real Estate Board is promising the enlargement of the rights of occupants of gated communities, if a bill emerges, and Watson Garrick is also encouraging persons to access the purchasers' guide produced by the Strata Corporations to guide their real estate transactions, especially those who are first-time buyers.
She noted, for example, that for those gated communities that already fall within the scope of the strata law, due to the design of the complex, there may be more than one strata association in operation, which could lead to conflicts over shared amenities.
Asked if gated community management committees will be empowered to seek sale of properties for which maintenance is not being paid, Watson Garrick told the Financial Gleaner that that issue, as well as any other penalty for breaches of bylaws and regulations, would be determined by the legislative process.
At a JIS Think Tank forum last year, she noted that "if the developers of the gated communities are savvy, they will make purchasers sign an agreement; however, if there is no compliance, they would need to take them to court. These are the issues that the legislation will address."
At last report, there were 1,669 registered stratas in Jamaica. The number of gated communities was not immediately available from the Real Estate Board.