We’re delighted to announce that the Victoria Body Corporate Management team has been selected as a finalist in three categories at the 2023 Strata Community Association Victoria Pillar Awards for Excellence. It’s a huge achievement, with nominations for the Strata Community Management Large Business Award, Strata Community Manager Rising Star Award, and the Environmental, Social & Community Impact Award. The SCA awards recognise and reward both businesses and individuals who make a “significant contribution to the strata industry and community”. Quick links: A team with passion ..read more

Australia, known for its vast landscapes and abundant natural resources, is on the path to becoming a global leader in renewable energy. With its commitment to reducing carbon emissions and transitioning towards a cleaner and more sustainable future, the country has made significant strides in harnessing the power of renewables. One of the key factors that has propelled Australia’s renewable energy sector forward is its abundant potential for solar energy. With its sunny climate, the country has a natural advantage for harnessing solar power. Australia is home to some of the largest solar ..read more

Most strata schemes in NSW are required by law to have in place certain insurance policies to cover damage to or destruction of the building(s). Insurance premiums, and construction costs to repair or replace buildings, are both increasing. Insurance policies will usually have a limit to the cover provided, and the question arises who is at fault if the cost of repairs or replacement exceeds the limit of the insurance policy, and the building is “underinsured”. In the usual way, the legal answer is “it depends” – on the particular circumstances of the building, and who was involved. An owner ..read more

Demand for electric vehicles (EVs) in Australia is growing, with the EV market share increasing by 65% in 2022 to 3.39% of new light vehicle (car) sales1. While this lags other developed nations, such as the UK, where one in five new cars sold is electric, we know demand in Australia will continue to increase. Moderate estimates predict EVs will represent 49% of total vehicle sales by 2030, and 100% of total vehicle sales by 20402. As Australia’s most experienced specialist strata insurance broker, BCB provided a closer look at the challenges for electric vehicles in strata communities. Qu ..read more

Many decisions in strata living involve a simple majority vote at a strata committee meeting or at a general meeting, or sometimes a special resolution at a general meeting. If a lot owner is unable to obtain a favorable outcome at the strata committee level they could adopt strategies to build a case, build support, escalate to a general meeting or apply for the intervention of the NSW Civil and Administrative Tribunal (NCAT). Each are discussed in-turn below, assuming the owner has correctly determined that the strata committee has the authority to grant that approval. In this regard, it i ..read more

In recent times, the landscape of insurance premiums and valuations for strata properties in Australia has undergone a significant transformation. This article delves into the key factors contributing to the escalating insurance premiums and the growing increases to the sum insured recommendations, specifically focusing on strata properties and highlights why having accurate and up to date valuations is important. Quick links: Rising Costs of Building Materials and Labour  |  Increased Risk Awareness and Claims Frequency  |  Changes to the Legislative Requirements ..read more

Have you considered harnessing the power of the sun to lower your energy bills and reduce your carbon footprint? The great news is that advancements in solar technology have made installing solar panels on apartment buildings more accessible and efficient than ever before. Australia’s leading community solar specialists, Smarter Communities & its subsidiary Sunshare Communities are combining over 40 years of community-living expertise and industry leading Australian technology to bring the solar revolution to strata communities. Quick links: Understanding your two solar options  ..read more

Quick links: What is an owners corporation?  |  What are the rights and responsibilities of the owners corporation?  |  How does the owners corporation make decisions?  |  What is the role of the committee? When you purchase an apartment that is part of a strata scheme in Australia, you also buy into the owners corporation (known as a body corporate in Queensland). The owners corporation is responsible for overseeing and managing the property’s communal areas and shared functions. As part of this entity, you have a say in how the property is managed, ho ..read more

Do you know the true replacement value of your strata property, not just the market value? If not, you could be one of the many strata owners at risk of being underinsured. As one of Australia’s largest and most awarded insurance underwriting agencies, CHU have provided a closer look at how insurance in strata works. Quick links: What does it mean to be underinsured?  |  Market value vs replacement value  |  Why does underinsurance occur?  |  The importance of strata valuations  |  How to minimise the risk of underinsurance in a strata complex&nbs ..read more

Understanding insurance needs when living in strata can be daunting, but ensuring you know what your insurance covers is extremely important. Have you reviewed your insurance policy to ensure you have the cover you need? Australia’s most experienced specialist strata insurance broker, Body Corporate Brokers (BCB) look at reassessing your insurance needs in light of recent weather events. Quick links: A period of weather to forget  |  Strata insurance – what’s covered and what’s not  |  Flood vs storm damage  |  Tips to prepare for another wet summer  ..read more