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Could you please advise a general answer to the following questions or advise further areas of search?
- Our strata manager arranges the building insurance for our strata plan – and collects 15% commission, which is noted on the papers supplied prior to the annual general meeting. I am unaware if any competitive quotes have been obtained. Is this usual and/or ethical?
- Could the management committee of the body corporate (strata size is 4 townhouses) arrange insurance?
- There is a charge for an insurance valuation each year in the cash management account – conducted by a branch of the company operating our strata management plan. Is the frequency normal and should a branch of the company arranging the insurance be conducting the valuation?
- There is a charge, each year, for Trades Monitor OH&S and licence – is this correct?
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