Bulding and Public liability Ins. for Strat. Ttle.

From: Phillip Jacovelli


Advice requested

One of my IP’s is in a block of three in a strata title that includes common areas - I have the plan of subdivision and subdivision number.

There is no formal body corporate in place, or more to the point, no formal body corporate manager been appointed - and talking with the other two owners I don’t think we need to go through the formalities as the block is very low maintenance.

This is a question of insurance, for Building insurance and Public liability insurance – is this all captured by the one insurer, (and split three ways)? I have been told that if we were to take out individual policies the insurers will take our money but we would be exposed. True or False?

…and how do I find out what the registered body corporate number is for the subdivision – if any?


Thanks

PJ
 
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Reply: 1
From: Joanna K



Hi Phillip,

You can get these insurance policies from the one company. The total price should be split in proportion to your unit entitlement. Your contract when you purchased the place should have the Strata Plan number and unit entitlement on it.

Kind regards
THE RENTAL SPECIALISTS

Joanna Karavasilis
Principal

www.rentalspecialists.com.au
rentals@rentalspecialists.com.au
 
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Reply: 1.1
From: Phillip Jacovelli


Joanna,

That page you mention is in fact missing from the contract.

Shouldn't be too much of a drama though - I have the details of the firm that did the subdivision, they should be able to forward on the missing page.

thanks,

PJ
 
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Reply: 1.1.1
From: Joanna K


Hi Phillip,

The Land Titles Office will give you the Strata Plan number and should also tell you what the unit entitlement is. Or even the local Council may be able to tell you that as they stamp the plans before they are sent to the Land Titles Office.


Kind regards
THE RENTAL SPECIALISTS

Joanna Karavasilis
Principal

www.rentalspecialists.com.au
rentals@rentalspecialists.com.au
 
Last edited by a moderator:
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