Your guide to property defects and strata insurance
Apartment demand is booming, but defects are on the rise. Understand the risks and how strata insurance can help protect owners and communities.
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The real cost of disregarding property valuations
You’ve sought professional advice and obtained a valuation. Now the question is, do you take it or leave it? When it comes to determining a Building Sum Insured, disregarding professional advice could be detrimental to everyone concerned: The property owner, the Owners Corporation (OC) Committee and you, the Strata Manager.
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Volunteering at your strata property | Understanding the risks
Being part of a strata community often means pitching in to help things run smoothly. While volunteering your time may feel like a practical way to contribute, it’s important to understand how this affects both your safety and the Owners Corporation’s legal obligations. Here’s what every strata resident, committee member and manager needs to know.
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Cladding | The road to rectification
Cladding Safety Victoria was established in 2020 by the Victorian Government and seen as a world-leading initiative via the Cladding Safety Victoria Act 2020 (Vic). The $600 million program was intended to make Victorians safer by helping residential apartment building owners rectify non-compliant or non-conforming external wall cladding products.
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Getting the right insurance in place for new strata developments
For developers of new strata properties in Australia, securing comprehensive insurance coverage is a critical step in the development process. However, common questions often arise, particularly around the need for detailed construction material breakdowns and percentage allocations. In this article, we address some of the most frequently asked queries and explore key considerations when insuring new developments.
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Build to rent opportunities for the strata industry
Australia is experiencing a severe housing affordability crisis. Our demographics and needs are changing…BTR may be part of the plan to deliver a diversity of new housing options.
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Strata insurance market outlook 2025
Looking forward to a new year, there is hope that 2025 will be less turbulent and more predictable. Reflecting on the past year, we’ve seen the following trends in the market…
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Batteries doing more than charging – lithium batteries lighting up!
Fires ignited by charging lithium-ion batteries in apartments have been prevalent in the media. Some apartment owners are looking to limit or even ban electric bikes and scooters and charging their batteries in the building…find out more…
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Mastering strata insurance: Seven essential tips to navigate challenging times
The world of strata insurance is experiencing dramatic transformation. Insurers are becoming increasingly risk-averse in the face of natural disasters, resulting in changes to policy, reduced competition and sharp increases in premiums. The surge in demand for building materials and construction services is driving up maintenance costs, while the rising cost of living sees strata…
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Flood Insurance
This article addresses the ins and outs of flood cover, and whether your clients can include flood cover as part of their Strata Insurance. 1. How is flood defined In the past, different insurance companies all had their own definition of what constitutes ‘flood’ in their policy wordings. However, in 2012, the Insurance Council of…
