The Strata Community Association says it will create a national code of ethics for the industry, addressing issues such as commissions and transparency. 

The strata management peak body will push for a “sector-wide transformation” through the new code, which will cover governance, education, compliance, professional conduct and community engagement.

The move comes as the industry continues to face pressure to act on issues such as insurance commissions.

“The code will address pressing issues such as commission-based remuneration, fiduciary duties, disclosure practices and ethical procurement,” the SCA said. 

“It will support strata managers in navigating conflicts of interest while promoting transparency in service delivery.”  

The association says it has engaged with independent consultant Centium on development of the code.

It says Centium is taking input from stakeholders in Australia and New Zealand, including strata managers, business owners, service providers, lot owners, regulators and other professional groups, to identify challenges and develop ethical frameworks.  

“This code is about strengthening the profession we believe in – one that deserves community trust and professional recognition,” SCA Australasia CEO Alisha Fisher said.

“It is built on evidence, not assumption, and it will be enforceable, not just aspirational.”  

The association says it will develop a suite of frameworks alongside the code to support members.  

These will include a practical guide on conflicts of interest, a new compliance and complaints panel structure, an owner education tool kit for ethical services modelling, and a risk register for business-related governance improvements.  

The SCA says a draft code will be sent to state and national boards, with feedback included in the final version. It will hold workshops and discussion forums in the coming weeks.