@Whale said:
One point of clarification regarding the insurance of “lot owners fixtures”. That’s a top-up cover provided on a per Lot basis which only comes into play if the value of a Claim exceeds the total sum insured for the Plan; like in the circumstances of a total loss. As I understand it, a “lot owners fixture” is defined as a structural improvement made by a Lot Owner and fixed to the Common Property, such that if the item was removed, then the Common Property would be left in a damaged state.
I dissagree with your interpretation Whale here is the quote from my insurance policy
Lot Owners’ Fixtures and Improvements
means any fixture or structural improvement, other than Floating Floors, installed by a Lot Owner for their exclusive use and which is permanently attached to or fixed to Your building so as to become legally part of it, including any improvements made to an existing fixture or structure.
It’s designed to allow owners to make improvements to their lot without keep going to the insurance company and getting the valuation increased. So that if they fit a top of the range kitchen in place of a standard kitchen so long as it is within the limit it is automatically covered by the current insurance policy.
I also dissagre with both you and Jimmy that a bylaw is required as the paving and gazebo are installed in the exclusive use area and not even att (prehaps) to the property and so it is totally the lot owners reasponsibility to maintain even after lot is sold. Strata is only reasponsiible for maintaining common property, not addon within the lot. eg a fitted kitchen that was worn out and need replaceing is totally lot owners reasponsibility NOT Stratas.