Strata Toolkit

In Australia, strata schemes are governed by state and territory legislation, which means the terminology and regulations differ across the country. For those working within the strata industry, and living in strata communities, the terminology can be confusing.

Navigate the complexities of insurance regulations for bodies corporate in Australia. This page details the essential coverages required by law, including insights from Strata Community Insurance to help safeguard your strata assets and liabilities.

Handy tips to simplify strata claims! Strata insurance can offer peace-of-mind in the unfortunate event that an insured needs to make a claim. Of course, having the right cover in place is the first requirement. The claims process should be timely, efficient and fair. However, it is not simply a matter of making a phone

In the context of strata and community title insurance, the relationships between strata communities, their appointed strata managers, and insurance brokers is particularly complex.

Insurance can be complex. Your Strata Manager is here to help. With our localised knowledge of specific strata communities, strata managers regularly provide quotes, lodge…

Building Valuations & Underinsurance Let’s consider the following items in relation to Strata Building insurance: Underinsurance Despite the fact legislation requires the Corporation, Owners Corporation, Plan or Company (“Body Corporate”) to insure the building for rebuilding and/or replacement value, it is very likely that even with a valuation, the correct sum insured has not been

Strata Insurance Explained: Owners’ Questions Answered What is a body corporate? A body corporate is a not for profit, unlimited liability legal entity. That means it is financially responsible (on behalf of all lot owners), for all the assets such as the building and the land, and all liabilities it may have. Owners need to

Western Australia Strata Insurance Explained: Owners’ Questions Answered What is a strata company? A strata company is a not for profit, unlimited liability legal entity. That means it is financially responsible (on behalf of all lot owners), for all the assets such as the building and the land, and all it liabilities it may have.

Commonly Asked Questions from your Owners Committee What damage does insurance cover and what does the body corporate need to fund? Owners become members of an body corporate when they buy into a Strata or Community title scheme. Owners have a share in both the assets and liabilities of the entity and a legal responsibility

Water Damage Can be Avoided Strata buildings are complex structures with key components like water pipes, electrical wiring, air-conditioning systems, ventilation and lift systems in place. Much of this infrastructure is hidden out of sight either in cavity walls, cupboards, roof spaces or under flooring so it does not upset the aesthetic appearance of a

Unlimited Liability: What do West Australian Owners need to know? When I buy a Strata unit or ‘lot’ what do I actually own? When you buy a unit or ‘lot’ in a strata scheme you do not individually own everything within that lot. In fact, the external walls, the floor and roof do not usually

Unlimited Liability: What do NSW Owners Need to Know? When I buy a Strata unit or ‘lot’ what do I actually own? When you buy a unit or ‘lot’ in a strata scheme you do not individually own everything within that lot. In fact, the external walls, structural floor, roof and sometimes even some internal

Unwelcome Tenants Pest inspections/treatments may appear to be expensive for a strata committee. However, they are an essential part of any good maintenance programme within a strata complex. Pest activity can affect roof voids, subfloors, interior and exterior areas. Common pests include but are not limited to: The cost of ignoring pest control can be

Demystifying Cladding! What is cladding? From early in the 1990’s, aluminium composite panel (ACP) became a standard material for medium and high-rise buildings across Australia, revolutionising the building sector by providing a low-cost, aesthetically pleasing skin or layer that was easy to attach to a building’s framework. Cladding is technically any layer of material applied

How to Manage Burst Pipes Be Prepared: How to Manage Burst Pipes Water Damage: The No. 1 cause of strata claims. At Strata Community Insurance, just under 70% of claims raised relate to water damage. Burst pipe claims are becoming more severe and expensive, often causing damage to furniture, appliances, floors, walls and ceilings. Added

Indexation Explained: What Qld Owners Need to Know Your obligations to insure for full reinstatement and replacement value of your strata building Body Corporate (BC’s) are required to insure for full reinstatement and replacement value. Unless a BC has an up-to-date valuation, extra care must be taken to ensure that any movement in building material

Cladding: What do Owners Committees need to know? The issue of highly combustible cladding usage in high-rise buildings was most recently highlighted in February 2019, when the Melbourne Neo 200 building caught fire from a lit cigarette on a balcony, causing an instant blaze. In June 2017, a fire tore up London’s 24-storey Grenfell tower,

Defects and Maintenance Register Best Practice is key As the strata sector continues to change and legislative requirements become more onerous we, as an industry, are charged with introducing best practice operations to overcome common hurdles and remove uncertainty. At Strata Community Insurance, our focus is centred on keeping Strata Managers informed of changes occurring

Contactor Management System From time to time, strata managers and/or strata committees may need to engage the services of an external contractor to undertake work within a strata complex covering maintenance, repairs, or installation of new components. While contractors or suppliers have a duty-of-care when entering a strata complex’s premises, it is in the interest

Building Inspections and Maintenance Checklist Strata complexes should be inspected at regular intervals to identify deterioration and required maintenance work – such as cleaning and painting, and attending to lighting and fire safety. Managing strata is multifaceted, involving many elements, across many parties. This checklist, though not exhaustive, provides a framework including items for consideration