Forums Two-unit strata Two-unit strata insurance Current Page

#21677
Jimmy-T
Keymaster

    You are paying the correct amount according to strata law because you are paying your share according to your unit entitlements.

    If unit entitlements were based solely on the area of the lot you could have an argument that the UEs are wrong and you should be paying 194/350ths (which is your share of the combined area).  Apart from the fact that you would end up paying more, so there is no benefit in raising the issue, UEs are not based on lot area but on a complex calculation allied more closely to unimproved value. 

    For instance a larger property on the ground floor might have lower UEs than a smaller property upstairs because the higher one could have views. However, even if you got an estimate of real estate potential sale values done now, it would not be accurate because it would include additions, improvements and upgrades.

    This is one sleeping dog that I would let lie.

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