We are commonly asked what obligations and level of authority Strata Managers have when arranging insurance on behalf of their clients. Subsequent to the Financial Services Reform Act (FSRA) in 2004 that now forms part of the Corporation Act, the Financial Services Industry, which incorporates the Insurance industry, has undergone radical changes as to how…
If you are a Strata Manager acting as an Office Bearer or someone who is currently fulfilling Office Bearers duties for an Owners Corporation then these frequently asked questions should provide insight into how necessary this “optional” cover is. What is Office Bearers Liability Insurance? Office Bearers Insurance is an important cover designed to provide…
You’ve sought professional advice and now the question is; do you take it or do you leave it? When it comes to determining a building sum insured, disregarding the advice could be detrimental to everyone concerned: the property owner, the Owners Corporation committee and you, the Strata Manager. One responsibility of an Owners Corporation committee…
It is usually only after you buy into a strata property, that you learn there are government regulations you have to comply with, regulations that extend to the insurance of your property. Getting the right insurance to comply with the regulations won’t be a problem if you follow these five simple rules… 1. Start with…
The team at Whitbread Insurance Brokers are looking forward to seeing you at the Strata Community Australia (SCA) National Conference this weekend in sunny Cairns. As Gold Sponsors of the SCA and with more than 35 years’ experience in the Strata industry, our aim is to help you manage risk so you can think beyond…
We recently saw this question posted on the Flat Chat Forum, where people and managers living and working in strata communities can ask questions and have them answered by the community. Question: “Tenants broke a waste pipe which is attached to a wall inside the garage. They hit it whilst entering or exiting the garage….
There are pros and cons for landlords who manage their own properties as opposed to landlords who employ a property manager to look after their affairs. Are you better off managing your property yourself or do you stand to save more than you spend by paying a property manager to wrangle the tenants for you?…
Owners of rental strata properties need to ensure they take out insurance to cover landlord’s fixtures and fittings, rent default and public liability for inside their lots/units. Strata Insurance provides cover for a range of circumstances specifically related to living in a strata community, including: Public Liability – covers legal liability of Owners Corporations Contents…
A recent article in a Perth newspaper suggests some developers are under-quoting the strata costs of some off-the-plan developments – some by as much as 50 per cent. In the article, Jeannette Anderson, founder of strata report compiling company Strata Data WA, says, “The developers sometimes set unrealistic budgets. When they have sold 60 to…
In recent weeks we have all witnessed the devastating impact that floods have had on our communities. We have received a number of calls from concerned Owners Corporation Managers and their clients about the cover afforded by their policies. We hope the following information may assist you with any concerns that you may have. Flood…
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