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Owners Corporation Finances
20th Feb 2018

Your Owners Corporation Fees: What Are They? How Are They Calculated? What Do They Pay For? As we close in on the end of yet another quarter of the financial years, lot owners everywhere are preparing for another round of Owners Corporation fees. Some will have paid them before, some might be paying for the first time – but many still fail to appreciate what their money pays for. Contrary to popular belief, ...

16th Feb 2018

Owners Corporation Should Think Twice Before Battling AirBNB In Court Leading Strata lawyers have warned Owners Corporations against challenging short-team leasing within their buildings. The spat between Owners Corporations and their members who use their private lots for short-term leasing on online platforms such as AirBNB. Across the country, there have been examples of Owners Corporations drafting by-laws or rules banning short-term letting, only to be dismissed in the courts. As the Victorian ...

7th Feb 2018

What does your Owners Corporation insurance cover? Your Owners Corporation’s strata insurance policy covers you for a lot of things. As set out in the Owners Corporation Act (VIC) 2006, Owners Corporations must take out insurance to cover all buildings on the Plan of Subdivision. These policies typically cover the building structure on behalf of all owners within any given Owners Corporation. Generally speaking, most strata insurance policies cover material damage as a ...

24th Jan 2018

  Victoria won't follow NSW lead on apartment defects bond The Victorian government is unlikely to force developers to put money aside for the rectification of building defects. A report in The Age this week says the Victorian government will not follow the example set by the New South Wales government. In NSW, developers are no forced to lodge a bond with the state’s consumer authority which is held to help lot owners ...

4th Jan 2018

Hard waste: A growing concern for Melbourne Owners Corporations [caption id="attachment_705" align="alignright" width="525"] A constant nuisance: Hard waste is an expensive and ugly look for bin rooms[/caption] Huge quantities of hard waste are left in common bin rooms across the state every month, and it is costing Melbourne Owners Corporations a small fortune. A recent Herald Sun report has highlighted Melbourne’s growing problem with rubbish dumping. For those who live, own and work ...

3rd Jan 2018

Your Owners Corporation affects your private lot value Buying property is one of the biggest financial decisions you will ever make. But when you buy into a strata-titled property, you are buying more than just your four walls. You are buying into a community, and to improve the value of that investment, you need to play an active role in that community. According to Hay Property Group director Alan Stubbings, all owners should ...

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(If you don't know your Plan Number, click here. You can also find your Plan of Subdivision Number on your fee notice)

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