commissions paid to strata manager
Our strata manager has declared an increase in the commission he receives from our insurer from 10 to 20% during the time our insurances were due for renewal however the…
Re: Neighbour running a business from home
Also, check with your insurer – they should be told (or your strata insurance may be invalidated). If that causes your insurance premium to rise, and assuming you are in NSW, under…
Re: Levy structure change and converting to strata
@nocreditbob said: I own a flat in a small company title building. All owners pay the same amount in levies, despite the fact that one of the flats in the…
Re: Committee member wants $21,450 to organise repairs
The average cost of a professional strata manager is $250 per unit per annum. A professional strata manger will have some sort of training and professional indemnity insurance. So…
Re: Uninsured and uninformed
This is such an important strata issue, so I’ve tried to make a summary: An Owners Corporation/Body Corporate is a legal entity and as such is legally liable for damage…
Re: Uninsured and uninformed
A final word……. Kiwipaul, I take on board what you say. Insurance is not my area of expertise & what I previously said may be a little simplistic. About 15…
Re: Uninsured and uninformed
@kiwipaul said: You misunderstand the concept of Strata Insurance because in Strata insurance their is no common property and lot property it’s just insured property and it’s irreverent whether it’s…
Re: Uninsured and uninformed
@Garbla said: If possible, as an owner occupier take out contents insurance with the same company with which the OC has the building (common property) insured & check with the insurance…
Re: Uninsured and uninformed
A difference between NSW strata building insurance requirements and other states (VIC at least) seems to be this: NSW states: (s.81) a building includes: “owners’ improvements… other than paint, wallpaper…
Re: Uninsured and uninformed
Just a suggestion to avoid the sort of problems encountered in this topic. If possible, as an owner occupier take out contents insurance with the same company with which the OC…
Re: Uninsured and uninformed
Austman – we’re back to differentiating between what an Owners Corporation (O/C) may be legally required to do and what its insurer may cover subsequent to damage by a defined…
Re: Uninsured and uninformed
@Whale said: The O/C’s building insurance does not provide coverage for “basically the same as a Home Insurance policy does on a freehold property”, and anomalous or not, neither it…