The Strata Insurance Market is a complex environment. Insurers have been dealt a significant blow in recent years by the Queensland and NSW Floods, with approximately $5.74b in claims made. Insurers are taking decisive action to recoup losses from natural disasters and other claims, such as raising premiums or deductibles,...
Last year, we invited all buildings with lifts to join in a Bulk Renegotiation to streamline lift maintenance contracts. With this project, our goal was threefold: standardise terms of service and associated fees, guarantee comprehensive coverage throughout the contract, and strengthen negotiation power when establishing new contracts by consolidating expiration dates....
Flexible braided hoses are a common sight in many Australian homes; however, few people realise that these seemingly innocuous components can lead to catastrophic flooding and costly repairs if they burst or fail. Water damage insurance claims are a contributing factor in rising insurance costs and as such, repairs to flexible...
Strata Choice is a technologically progressive business that provides up-to-date technology to make life easier for owners and Strata Committees. This technology provides real-time information with self-service capabilities. By harnessing this technology, Strata Choice offers efficient, effective customer focussed service that meets customers' expectations today and into the future. The Benefits...
As community living increases it is important to note that by-laws are the fundamental building blocks of how a scheme manages its affairs. Simply, by-laws bind owners and residents to their terms and regulate the use of the common property and Lots, none more so than what you may keep...
Whether regulated or not, 'short term letting', 'short term rental' or 'short term holiday accommodation' (STRA) can be a source of friction between owners corporations and community associations and their residents in NSW, particularly during peak holiday periods.
The new Strata Choice Owners Portal provides complete transparency and the ability to seamlessly manage multiple aspects of your building affairs in one place. The portal will facilitate the collaboration between all stakeholders; Strata Managers, Building Managers, Service Providers, Owners and Committee members. Strata Choice Owners Portal powered by MRI Strata Connect This...
Strata Committee Member Voting. The chairperson of any meeting should consult with the treasurer (or Strata Managing Agent) to understand who is financial and unfinancial (i.e. whether or not any contributions or levies are owing to the owners corporation or community scheme) for them to preside at the meeting and make...
Approval of minor renovations by a strata committee Section 110(6)(b) of the Strata Schemes Management Act ('the Act') allows an owners corporation to delegate the function of considering minor renovations (such as "installing or replacing wood or other hard floors") to its strata committee. To do so, the owners corporation must...
Each apartment building has a set of rules that residents must abide by. These rules are referred to as by-laws which govern and set out aspects of how an apartment building is run. For instance, it states what types of pets residents can keep, noise restrictions/disturbing other residents and what...
