My Government has delivered new protections for the 1.2 million people living in strata across New South Wales, which started on 27 October.

These changes build on previous reforms to our state's strata laws that are lifting accountability for strata professionals, increasing transparency in the management process and putting owners back in control over how their schemes are managed.

Four key changes are coming in to force now.

These include crucial consumer protection measures to help owners pay off strata debt, practical assistance to owners in financial stress, new accountability and transparency standard for building managers and world-first strata regulation powers for NSW Fair Trading to ensure serious maintenance issues can be fixed.

When schemes don't meet their repair and maintenance obligations under strata laws, they risk their building falling into disrepair leading to cost blowouts to fix damage, safety issues, legal disputes, and limiting the insurability of the strata complex.

These laws also mean you can access practical financial assistance in times of stress and have confidence and accountability of your strata managing agent.

These critical changes build on previous laws that have been passed since we took Government.

These initiatives are; increasing penalties for strata agents who don't disclose conflicts of interest, banning on unfair contract terms in strata or building management, cleaning and gardening contracts, making it easier for owner to undergo minor renovations and removing barriers to incorporating more sustainable measures such as solar panels.

These new laws are just a part of our reforms that are designed to restore confidence in our strata system.

My Government is committed to modernising strata laws so they better protect owners.

Effective management of strata communities is a significant part of my Governments plan to increase housing in Kogarah and across NSW, with more than 50 per cent of Sydney's total population predicted to live in strata by 2040.

These new laws mean you are able to access practical finance assistance in times of stress, and have the confidence in the transparency and accountability of your strata managing agent.

As Premier, I know there is more work to do, but this is another step in making strata fairer across NSW.