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Q: Another strata management considers that: “all owners have the right to make claims on the buildings insurance”! “the insurance policy covers claims on all owners fixtures and improvements”. S/M quotes Sect 161 part 3 of the Strata Schemes Managements Act 2015 – Parts of building to be covered (a) owners’ improvements and owners’ fixtures forming…

BUILDING REFORM GATHERS MOMENTUM-NEW INSURANCE FOR DEFECTS Building industry reform is now gathering momentum with the introduction of a new insurance product called Latent Defects insurance (LDI). Previously there was no insurance for structural defects with home buyers in the apartment sector. This insurance is not retrospective and applies to only new projects where the…

Contractor Management The strata industry relies heavily on contractors to help maintain the overall appearance of buildings, along with routine service and maintenance of mechanical assets and common areas. Fire compliance, lift servicing, HVAC and plumbing generally make up most of the on-going preventative maintenance required within a residential building. Also, if buildings are still…

  As of October 1st the NSW Government will apply an increase to the New South Wales Emergency Services Levy (ESL). This will see the NSW Government increase the ESL contribution target for 2020-21. New South Wales has been hit with fires and floods in 2020 and the ESL contributes to funding for all emergency…