› Flat Chat Strata Forum › The Professionals › SCs and strata managers › Strata Manager commissions › Current Page
Yes there is in NSW (and I suspect in other States / Territories), under S47 of the Property, Stock and Business Agents Act (2002), and Strata Managers (SM) usually show their commissions etc in a “Disclosure Schedule” forming part of the Strata Management Agency Agreement that they are required to have with Owners Corporations as their Clients.
On the basis of my experience, the SM’s commission on Strata Insurance is typically 20%, so considering your SM would likely generate more Insurance of that type and would therefore achieve a lower base premium than would a generalist Broker, that level of commission would likely account for the difference in the quotations that you’ve received.