What is a strata renewal?
A strata renewal is the legal process that allows owners in a strata scheme to sell or redevelop their building collectively, even if not every owner agrees.
In NSW, this process is governed by the Strata Schemes Development Act 2015 and is often used where:
Strata renewal does not force anyone to sell — it creates a pathway for owners to explore whether a collective outcome could unlock more value than individual sales.
Many schemes investigate renewal and decide not to proceed. That is a normal and healthy outcome.
Anyone can put forward a Strata Renewal Proposal, including:
For strata schemes registered before November 2016, owners must first vote to opt into the renewal framework. This opt-in step is important and ensures older schemes choose whether the process applies to them.
At Blocsy, we typically see renewal discussions begin organically — one or two owners asking a simple question:
“Is our building worth more together than apart?”
What we’re learning with the recent planning reforms and ageing structures is that the building often worth significantly more if sold to a developer.
The legislation sets out a formal pathway, but in reality renewal works best when it is staged, transparent and owner-led.
This is an early-stage document that outlines:
Importantly, this is not a binding offer.
Most proposals go no further than this stage — and that’s okay. The purpose is to give owners enough information to decide whether further investigation is worthwhile.
The strata committee considers the proposal and decides whether it should be taken to all owners.
If there is sufficient interest, a general meeting is held so owners can:
At this point, nothing is locked in. Owners are simply deciding whether the idea is worth properly testing.
If a majority of owners support moving forward, a Strata Renewal Committee is formed.
This group represents the owners and is responsible for:
This step is critical. Successful renewals are owner-controlled, not developer-driven.
If the opportunity stacks up, a detailed Strata Renewal Plan is prepared.
This is the document owners ultimately vote on, and it typically includes:
This stage often takes months. It is where many renewals pause — either because the numbers don’t work, or owners decide the outcome isn’t compelling enough.
Again, that is a valid result.
Owners are given time (at least 60 days) to consider the plan and seek advice.
For the plan to proceed, at least 75% of owners (by number of lots) must support it.
This threshold is deliberately high. It ensures that renewal only proceeds where there is clear and broad support, not just a slim majority.
Even with 75% support, the plan must be approved by the NSW Land and Environment Court.
The Court’s role is to ensure the outcome is:
Court approval is a safeguard, not a rubber stamp. It protects owners and ensures the process has been properly run.
Valuation is where most strata renewals succeed — or fail.
Key points owners should understand:
A good renewal plan clearly explains why outcomes differ and how value is being shared.
At Blocsy, we focus heavily on ensuring owners understand this early, so expectations are realistic and aligned.
Strata renewal is not quick or cheap.
As a guide:
Renewal works best when owners see it as a process of discovery, not a guaranteed transaction.
Strata renewal is often most effective where:
It may be less suitable where:
There is no “one size fits all”.
At Blocsy, we believe strata renewal should be owner-led, well-informed and optional.
We don’t start with assumptions about selling. We start with understanding:
For many strata schemes, this process leads to a clear conclusion that renewal does not make sense right now. That is a valid and often sensible outcome.
For others, early coordination and structured engagement can reveal opportunities that are difficult — or impossible — to access without alignment across owners.
Blocsy acts as an owner-appointed Strata Renewal Facilitator, supporting owners to:
If owners later decide to proceed with a collective sale, Blocsy also holds a NSW real estate licence and may be appointed — under a separate agreement — as Sales Coordinator to manage market engagement, developer interest and execution. Any such appointment is optional, fully disclosed and subject to owner approval.
Throughout the process, decision-making remains with owners. Blocsy’s role is to facilitate, coordinate and execute — not to push outcomes.
Strata renewal is not about forcing decisions. It is about giving owners choice, clarity and control in a changing planning and property environment.
When renewal stacks up, it can unlock value, reduce long-term risk and create better outcomes for entire communities. When it doesn’t, owners walk away better informed — and no worse off.
If you’re part of a strata scheme and are curious about:
you can register with Blocsy to speak with someone from our team.
There’s no obligation and no pressure — just an opportunity to have a practical, informed conversation and understand your options.
Register and we’ll be in touch to arrange a time that suits.
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