澳洲Australia property body corporate=building insurance??? | Sy


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Hi All

Just confused over whether body corporate include building insurance for the individual buildings in a villa/townhouse complex?

THx heaps.  

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Hi VC

The Strata Schemes Management Act (1996) ensures that strata scheme responsibilities include insurance of a few different types. In general terms, an owners corporation (or BC, as they used to be known) is responsible for the following insurances:-

*The building and outbuildings
*Public liability
*Workers Compensation
*Voluntary workers

The main insurances you need to cover, as a landlord, are contents (as items such as carpets, window coverings etc are not covered by the OC building insurance) and landlords insurance (for unruly/runaway/negligent tenants)
Good luck.  

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Thx alot.

another question, does it mean a building pest inspection is not necessary with these properties?  

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Hi VC

It really depends- most of my buyers don't worry about building/pest reports in brick unit complexes as the strata search usually is sufficient to uncover any building issues and also provide a history of when the last pest inspection was in the common areas. However, if you're looking at a townhouse or a freestanding dwelling in a strata/community scheme it may prove to be worthwhile. Best to talk to your solicitor or conveyancer here as well as considering the age of the building, the layout, the construction material and the likelihood of pest activity/wood rot etc.  

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thx alot :)  

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