Strata title is a unique form of property ownership that allows individuals sole ownership of part of a property (called a ‘lot’ – or more generally, a unit, apartment or townhouse), as well as a shared ownership in the common property (foyers, driveways etc). These multiple ownerships make up the legal entity called the Owners Corporation. The Owners Corporation is […]
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Some strata schemes can be complex and difficult to manage for the Owners Corporation without assistance from a professional, external manager. Professional strata managers exist to provide administrative assistance to Owners Corporations. For a service fee, professional strata managers will undertake many of the day to day functions of the strata scheme that otherwise would be handled by the Owners […]
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What financial obligations do lot owners have to the Owners Corporation? Strata schemes incur many of the same expenses that you would expect from any other dwelling, such as: council rates, utility charges for common areas, repair work, maintenance, and insurance. On top of these standard dwelling expenses, strata schemes may also incur other strata-specific expenses such as: building replacement valuations, specialised legal […]
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What is an Owners Corporation Committee? Owners Corporations can become large. Sometimes really large! Coordinating the management of the strata (or related) scheme by such large groups of individuals can become an administrative nightmare. Therefore, a committee is usually formed to administer much of the operation of the strata scheme on behalf of the Owners Corporation. Committee members are generally […]
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While we are living in uncertain times, we are here and ready to help our customers and our communities. We continue to place the health and wellbeing of our people and those of all our stakeholders first and have made a few changes to the way we do business to ensure we can continue to provide peace of mind & […]
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Strata Insurance Coverage Following on from our previous article where we explored “Strata Insurance Explained“, we now look further into other sections of cover offered within some strata insurance policies and touch on what strata insurance does not cover. Aside from Building damage cover and Public Liability, other forms of insurance Owners Corporations can add into their strata insurance policy, […]
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What is strata insurance? Strata insurance is a form of general insurance that is intended to meet the specific insurance requirements of the Owners Corporation in relation to their strata scheme. Strata insurance policies should be in the name of the Owners Corporation responsible for the strata scheme – e.g. Strata Plan 12345. Generally, strata insurance will be sold in […]
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Merry Christmas & Happy Holidays from the team @ SUU!
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Hello everyone, Each year the team at SUU participate in an offsite development weekend to discover ways to improve the SUU customer experience for our partners. This year the event will take place from Friday, 13 September to Sunday, 15 September 2019 and during this time our office will be unattended. The event is important for the professional development of our people. We […]
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Hello everyone, This year marks SUU’s twentieth year of delivering peace of mind to the Australian strata community and it was exciting to kick off such a special year with the release of our new branding that reflects not only our traditions of personalised service and specialised expertise but also our strong focus on the future. We appreciate the overwhelmingly positive […]
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