Australia: New president brings ethics focus to scandal-plagued strata sector

Amid an industry-wide reckoning, the Strata Community Association (SCA) has named a new president to guide operations across Australia and New Zealand.  Joshua Baldwin will become the organisation’s youngest president at 33, bringing 13 years of experience in the strata industry to the leadership role.   Read the article…………………………….

Australia: Five key takeaways from our strata seminar

Insurance News held a half-day strata seminar in Sydney on Thursday, and more than 100 industry professionals attended.  Expert speakers provided insights on a variety of important issues. Here are five key findings from the event: CHU CEO Kimberley Jonsson presented interesting new data that challenged assumptions on strata insurance affordability.   Read the article…………………………….

Australia: NSW Fair Trading to review Netstrata

After their media investigation @LintonBesser and @NinahKopel from @ABCNews published an article High-profile strata company Netstrata caught charging excessive fees and taking kickbacks reporting on their business practices relating to insurance premiums, commissions, and brokerage, fire services, plumbing and building maintenance.   Read the article…………………………….

Australia: Isn’t it funny … how everyone is strata splaining managers?

Since the 2024 Strata Insurance Crisis broke 4 weeks ago strata managers are getting a lot of attention at the moment [good and bad] and that’s fine.  But it seems to have prompted a lot of strata experts, pundits, activists, ambulance chasers, vested interests, opportunists and boffins out of the woodwork with their 20% to […]

Australia: ACIL report exposes strata insurance regulatory gaps

The Australian Consumers Insurance Lobby (ACIL) has published an in-depth report revealing the gaps in the strata insurance sector…..The report noted uncertainty among respondents about which regulatory body is responsible for overseeing the sector. This confusion underscores the pressing need for clearer governance and regulatory frameworks.   Read the article…………………………….

Australia: Fire Safety Advice as Lithium Battery Fires Spike in Units

The message from Fire and Rescue NSW (FRNSW) regarding the rise of lithium-ion battery-related fires across NSW is ‘be alert, cautious and proactive’.  It’s important that strata managers, strata committees and strata residents understand the fire risks related with lithium-ion batteries and to be prepared if things go wrong.   Read the article…………………………….

Australia: Strata reforms send bills soaring from just $5000 to $60,000

Warren* was staggered to learn last year he had to contribute $80,000 for waterproofing and concrete spalling repairs to his apartment building in Sydney’s eastern suburbs.  It was an enormous shock, particularly because owners had to pay within six weeks for the work that included fixing the degrading concrete.   Read the article…………………………….

Australia: Strata practices report unleashes torrent of criticism

Allegations that a major NSW strata management firm has been charging excessive fees for insurance services without full disclosure of the arrangements have touched a nerve and triggered a torrent of criticism directed at practices within the sector.    Read the article…………………………….

Australia: Strata lawyers back Trowbridge-recommended reforms

The Australian College of Strata Lawyers says it supports the introduction of reforms recommended by consultant John Trowbridge in his review of practices in the sector.  The college, in response to ABC reporting on apartment owners paying excessive insurance fees through arrangements with Netstrata and associated entities, says it supports Mr Trowbridge’s reform proposals, including […]

Australia: ACCC ‘continuing to engage’ on strata issues

The Australian Competition and Consumer Commission says it is examining lobby group information that highlights poor conduct by some strata managers in arranging insurance.  The Australian Consumers Insurance Lobby (ACIL) has presented its concerns to the consumer commission and the Australian Securities and Investments Commission, giving examples that it says should be reviewed and asking […]

Australia: How stratas are derailing unit owners’ bid to lower bills

Unmotivated owners and strata policies are preventing more apartment blocks from moving to renewable energy.  ReNewCo founder and CEO Matthew Summerville has recently installed solar to a block of units in Clovelly and said that unit owners have more options than they realise.   Read the article…………………………….

Australia: Five ways strata owners can stem the tide of rising insurance

Climate change is driving insurance premiums higher – in strata properties premiums are set to rise nationally by 15-20 per cent from the start of FY24, according to Honan Insurance Group, driven by “claims costs inflation, rising building valuations, and insurers raising rates after periods of losses”.    Read the article……………………………….

Australia: Strata association produces insurance disclosure guide

Strata Community Association (SCA) has produced a best practice guide that aims to improve disclosure in areas such as commissions, conflicts of interest and the allocation of remuneration.  The release of the guide comes after recommendations made by consultant John Trowbridge in the first phase of an independent review of strata insurance practices and draws […]

Australia: Serious defects found in more than 50% of NSW strata buildings

More than half of NSW strata buildings have serious defects, with an estimated $79 million being spent by owners’ corporations to rectify the issues, a survey has found.  The joint initiative between Strata Community Association (SCA) NSW and the Office of the Building Commissioner found 53% of buildings had serious defects between 2016-2022, up from […]

Australia: Everything that’s wrong with NSW’s Common Property Memorandum

In 2015, the NSW strata law changes introduced a short-form way of trying to clarify who’s responsible for different parts of a strata building: the strata corporation or strata owners. But, like so many tempting shortcuts, it’s poorly considered and done, it doesn’t work, it’s very messy, and, it should be abolished……..Read the article……………………………….

Australia: Backroom deals in strata insurance and how they’re costing you

There are a lot of moving parts when it comes to strata insurance, and a lot of the movement is hidden from the people who pay for it.  It all comes down to the complex dealings between strata managers and the insurance industry – dealings that often involve undisclosed commissions and payments.  Read the article………………………………..

Australia: The one thing you need to know before you buy in Queensland

Laura Bos, general manager of the Queensland wing of Strata Community Association (SCAQ), the strata managers’ and service providers’ professional body, says the Queensland government needs to live up to a promise made to fix the state’s seriously out-of-date body corporate laws.   Read the article………………………..

Australia/Singapore: Governing cities: Exploring the laws of multi-family dwellings

Multi-family dwellings are an inevitable part of cities around the world. With so many living in close proximity to one another, conflicts are unavoidable. It is therefore important to ensure that such conflicts are efficiently resolved, and multi-family dwellings are governed properly. In the context of Singapore, applying for a high-rise public housing flat is […]

Australia: Strata managers struggling under insurance policy squeeze

Astronomic increases in insurance premiums, declining insurance industry competition in the local market and risk hyper-aversion are putting strata managers in a tight spot, according to the president of the industry’s peak organisation.   Read the article………………………..

Australia: Now is the perfect time to fix broken strata system

One significant step forward the new government could take would be to support the Owners Corporation Network, which represents strata owners, with substantial guaranteed finances for the next four years, as it does with the Tenants’ Union.   Read the article………………………..

Australia: Strata Trends 2023

The good news is Australia’s 61 years-old strata industry is flourishing. In fact, it has doubled in 20 years. The last two decades of growth has been cumulative rather than cyclical, with each release of lots into the market adding to the industry’s dwelling stock.  Read the article………………………..