NSW Government Releases Strata Guide for Owners
The NSW Government has launched a strata living guide for current and prospective owners of strata properties
The NSW Government has launched a strata living guide for current and prospective owners of strata properties such as apartments, villas, townhouses, duplexes, and semi-detached houses.
The guide provides clear, practical insights into key aspects of strata, including:
The Basics of Strata: An overview of how a strata scheme functions.
Common Property and Ownership: Understanding the distinction between private and shared property.
Key People and Roles: An explanation of the roles of owners, committees, and strata managers.
Financial Obligations: Essential information about levies and other costs.
By-laws and Meetings: Insights into the rules governing strata living and decision-making processes.
Repairs and Maintenance: Guidance on managing building upkeep and renovations.
Dispute Resolution: Steps to resolve conflicts effectively within a strata scheme.
You can download the Strata living guide from the NSW Government website here.
As part of its commitment to effective self-regulation and promoting professionalism and good client outcomes across the insurance broking profession, NIBA has developed additional guidance materials for Subscribers to the Insurance Brokers Code of Practice.
This guidance clarifies the obligations of Subscribers and their representatives when arranging or providing advice on strata insurance products.
Insurance brokers play a crucial role as trusted advisors in the strata sector. They provide expert guidance and arrange insurance to protect residents from a variety of risks. By navigating increasingly complex insurance markets and advocating on behalf of their clients, brokers help enhance transparency and safeguard strata communities.
You can download NIBA’s Strata Insurance Guidance below.