Proposed Shared Communities Bill Requires Developers to Fund Long-Term Maintenance

Attorney Alton Morgan outlined proposed changes to the Shared Communities Bill, which is currently in its final redrafting stage. The proposed legislation would introduce a statutory framework governing developments that have common facilities, regardless of whether they are gated or not. Under the framework, developers undertaking subdivisions with shared spaces would be required to register their projects with the Real Estate Board and the Registrar of Titles before individual titles are issued.

The proposed rules would require property developers to take a more comprehensive approach to planning projects. Developers would need to put maintenance budgets and governance arrangements in place before they could sell individual lots in the development.