#73781
TrulEConcerned
Flatchatter

    Lt. Columbo,

    PECUNIARY INTEREST

    Jimmy is right when he mentions the strata manager or a committee member must ask about members who have or may have a pecuniary interest in strata matters. But as Jimmy always says, “there are no strata cops to enforce this”.

    I have been involved in several strata schemes where the strata mgr asks this very question. If it is answered in the affirmative,  a note of it is made in the minutes.

    If it is not responded to, even when half the committee have pecuniary interests, the strata mgr or whoever is chairing the meeting goes on to the next agenda item.

    STRA

    You could also ask the person or persons pushing for STRA if they are willing to pay the higher premium associated with strata insurance policies that cover STRA taking place.

    I had a long discussion about this a year ago when a committee member let his property out on the sly; when cornered he denied responsibility for the problems his “guests” made and he never agreed to pay the higher premium. I was told by the insurer that STRA WILL raise the premium charged for strata insurance  and the increase is a function of the number of units engaged in STRA. The more units engaged in STRA, the higher the premium.