› Flat Chat Strata Forum › By-laws and outlaws › Is this renovation bond excessive? › Current Page
03/04/2019 at 1:47 pm
#36749
Section 139 (1) says this: A by-law must not be harsh, unconscionable or oppressive.
Given that all strata schemes must have insurance, isn’t expecting anyone hoping to undertake renovations to have that sort of money lying around (as well as for the costs of the renovations) all of those things above.
A $2000 bond is arguably reasonable because it would cover the initial costs of making a claim for damages. But $10,000? I would be knocking on NCAT’s door to get this overturned.