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NSW Fair Trading launches inquiry into strata management company Netstrata following ABC investigation

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Netstrata

The NSW government has announced an inquiry into one of the country's largest strata management firms following revelations on ABC's 730 that it was charging exorbitant insurance fees and taking an untold sum in industry kickbacks.

NSW strata and property services commissioner John Minns has announced a review of Netstrata and its operations.

"I'm going to go back and look at our practices and make sure we tidy them up," Mr Brell told the program at the time. The company's financial returns show that since 2015, Netstrata has banked more than $21 million in brokerage fees, helping to generate profits over that period totalling almost $50 million.

To the outrage of owners and advocates, the company's conduct appears to have been permissible under NSW law.

 

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