Rebuilding cost $10+m in excess of valuation….
Hi I recently checked with a Commercial Builder about the cost of rebuilding the Strata property of which I have one Lot in. As I understand, building costs have increased…
FYI: A strata glossary
Initials, abbreviations and acronyms are supposed to make it easier to communicate but if one side of the conversation doesn’t know what they mean, confusion and chaos can only ensue.…
Forum: Why we don’t really love letters
A frankly annoying post from a new correspondent prompted a whole column in this week’s website. To be fair, it was mostly irritating because it reminded me that some weeks…
Short but not so sweet: FYI, initials can confuse
Recently a plea from a Flatchatter drew my attention to an issue that I’ve been planning to address for some time now – the overuse of initials and acronyms in…
Reply To: Is 20% strata manager commission for insurance premiums OK?
@TrulEConcerned no worries. I did actually contact another broker months ago and they were not very helpful – required claims history which our strata manager held and we didn’t. I…
Are SMs required to provide access to the financial ledger (ACT)?
Hello everyone, Are SMs (in the ACT) required to provide access to a portal showing the financial ledger? We are in the process of selecting a new Strata Manager (in…
Forum: Strata pros who won’t talk to owners
Things tend to be a little quiet around holiday weekends but one discussion caught the eye this week and it concerns a solicitor telling committee members that they will only…
Reply To: Is 20% strata manager commission for insurance premiums OK?
@TrulEConcerned, getting our own insurance through Strata Fair coincided with us moving to self management, so our strata manager won’t be getting anything more. As it is they have nearly…
Reply To: Is 20% strata manager commission for insurance premiums OK?
@PJ Newb is correct when he/she wrote about commissions. These are often included in strata agreements with agents on the understanding that they offset the alleged “low contract price” offered…
Reply To: Who’s responsible for water pipe before it meets my meter?
Hi Geooff@YoungSt I’d suggest you have a look at your insurance policy to see what you can claim with regard to the floating floor board damage. I don’t think from…
Reply To: Who’s responsible for water pipe before it meets my meter?
I believe building defects period is 7 years. But it would be hard to attribute a burst pipe as a building defect. Pipes burst all the time for any and…
Reply To: Is 20% strata manager commission for insurance premiums OK?
I think 15 to 20% commission is fairly usual for most strata managers (and contributes to their management fees). Legally, any commission should be declared, and declaration details included in…