Q&A Running a Business in Residential Strata & the Impact on Insurance

Q: Our body corporate has residential insurance to cover our 8 units. This includes public liability insurance. We have an owner/occupier who runs her Pilates business from her unit.  In speaking with the insurer, they advised that if a client of the business was injured on site we would not be covered unless the insurance was upgraded to commercial insurance.  To my knowledge, the owner setup her business without notifying the body corporate management group and has run it for some years from her unit. To move to commercial insurance will mean an increase in the insurance fee.  Can you advise if the business owner can be charged the difference between residential and commercial insurance costs or if the business can be stopped from running out of the unit putting the other owners at risk?     Read the Q&A…………….


Related Articles

No barbecue ban but pets on notice as strata regs lay down the law

Balcony barbecues will not be banned, but pets still can be, as a raft of contentious strata rules is revealed

3 things to consider about strata-run investments

There are many benefits to buying property within a strata-managed co-op, however equally as many challenges, as the topic of

NSW Government Unveils Timeline For New Strata Legislation

From 30 November 2016, the Strata Schemes (Management) Act 2015 and Strata Schemes (Development) Act 2015 will come into force, which contain more than 90 amendments to how strata schemes in NSW are currently legislated.