Re: Recovery of insurance excess
Get get your insurance company to claim from her insurance company. Why did they not ask this in the first place? I assume she either admitted fault or someone saw…
Recovery of insurance excess
A tenant drove her car through a brick wall separating common property from a unit back yard. No argument about liability but rather than accepting her offer to arrange for…
Re: Insurance Commission
I’m not sure we can talk about a trailing commission. A commission will be paid to the SM regardless of whether you renew with the same insurer or a different…
Re: Insurance Commission
This was a hotly debated issue before the last change to our strata laws. The commission was about to be wiped until it was pointed out by some of the…
Re: Insurance Commission
The information that you have received is correct. However, the Strata Manager must disclose this commission or face a penalty. Transparency is the key. From the CHU website: “Commission payments…
Re: Insurance Commission
bangles, You ask: “Insurance Companies do not pay commissions to Owners Corporations and if it did not go to SM it was retained by Insurance Company. Is this correct? ” …
Insurance Commission
We are a block of 65 units in NSW and the insurance is around $35Kpa. A question was asked at our last AGM about who receives the trailing commission and…
Re: Should landlords get home and contents insurance
@JimmyT said:It was a very general, non-specific comment. It’s actually legislated that lot fixtures, fittings and improvements must be covered by any compulsory strata building insurance in at least ACT,…
Re: Should landlords get home and contents insurance
@Austman said: Actually strata building insurance generally covers “Lot Owners’ fixtures and improvements”, eg CHU’s Residential Strata, policy 10. That includes kitchen fixtures, bathrooms fixtures etc. It was a very…
Re: Should landlords get home and contents insurance
@JimmyT said: Strata insurance will generally NOT cover you for anything inside your property. Tenants should have their own home and contents insurance too. Actually strata building insurance generally covers…
Re: Should landlords get home and contents insurance
What you need is Landlords Insurance which covers you for any liability of yours related to fixtures and fittings in your property. Policies vary from company to company but our…
Should landlords get home and contents insurance
I have purchased an investment property and wondering should I take out Contents Insurance even though the property is rented? It is a duplex so already pay Strata Levies. …