The NSW Government’s strata reforms reached a major milestone on 1 April 2026.
Under the Strata Schemes Legislation Amendment Act 2025, developers must now use a mandatory standardised form when preparing the Initial Maintenance Schedule (IMS) for every new strata scheme in NSW.
If your development’s first AGM falls on or after 1 April 2026, these requirements apply immediately.
What Is an Initial Maintenance Schedule (IMS)?
The Initial Maintenance Schedule (IMS) is a formal document provided to the Owners Corporation at the first Annual General Meeting (AGM) of a new strata scheme. It outlines inspection requirements, maintenance activities, and estimated costs for all common property.
The IMS also forms the basis of the Owners Corporation’s 10‑year capital works fund plan, making it critical to long‑term financial planning and asset management.
What’s Changed?
Three key changes came into force on 1 April 2026:
- Mandatory standardised IMS form
Developers must now use the prescribed NSW Government IMS template. - Independent certification for multi‑storey developments
For multi‑storey schemes, an independent surveyor must review and certify both the IMS and the initial levy estimates. The certifier must have no connection to the developer. - Earlier handover requirements
All IMS documentation must be provided to the Owners Corporation at least 14 days before the first AGM.
Why it matters
Historically, IMS documents varied in quality and detail, sometimes resulting in underestimated maintenance costs and underfunded capital works funds. The new standardised format, supported by independent certification, improves transparency and helps protect owners from unexpected special levies soon after occupation.
Penalties for Non‑Compliance
Non‑compliance can result in fines of up to $11,000, additional daily penalties, licence suspension, and stop‑work orders.
Have a project completing in 2026?
Contact Monteath & Powys to ensure your IMS meets the new NSW requirements well before your first AGM.