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Our Owner Corporation manager stated that her company was not receiving any commissions as they charged fees.
The replacement manager (same company) was asked how much was the commission on the building insurance premium (as if it was known they were receiving commissions). The reply was 20%. The financials group things as one entity such as “insurance”.
This equates to well over $1,000.00 a year commission.
Verbal assurance that this will be reduced to 10% was given. Nothing in writing. It appears we are paying fees on top of commissions.
The insurance company does not talk with clients.
The broker was vague.”Get your owner’s Corporation to talk with the insurance company”. After a lot of nonsense including the threat by the Owners Corporation of charging $120.00 per hour to persist with this issue, an official complaint was lodged. A screenshot of a paragraph of a document that is somewhere on the owners portal states they can charge up to 20%.
Requests for an itemised list of all fees and charges, etc. has yet to take place.
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