Strata & Community Living Summer 2023/24

conti strata community living summer 2023/24

Increased costs being passed through to customers via premium increases

Strata insurance premiums with a standard risk profile have increased by an average of 20% nationally. In some regions, where there have been floods and storms, there have been significantly higher increases, averaging around 40%.

2023/24 Summer Edition

Understanding premium increases and protection gaps
Security access control systems and fobs
Drastically reduce energy costs by up to 77%
Colin Grace. A refection on a career – or just navel gazing…
Play safe with strata repairs
Unraveling the responsibility for upstairs water leaks
DBPA Fast Fact sheet: balcony doors
How to choose the right painting company

 

Understanding premium increases and protection gaps

Australia has experienced several catastrophic weather events with three consecutive years of La Niña. The 2022 southeast Queensland/Northern NSW flooding and storms resulted in 242,000 claims and nearly $6bn paid out by insurers. It’s now one of the largest “catastrophe” events in Australian history.

Insurers have also increased policy excesses to try and limit further premium increases and to reduce the administration required for the large number of claims that fall under the excess amount.

Security access control systems and fobs

The use of security fobs and cards to access strata buildings has significantly increased over the last 10 years. Residents of modern apartment buildings expect to live in a secure environment with keyless access and will often pay premium rates to live in this type of building.

Whilst the technology is available to provide secure and protected buildings, it’s really important that these electronic systems are installed correctly and well managed by the Security Company, Owners Corporation and Strata Manager.

Drastically reduce energy costs by up to 77%

Windows are more than just interesting elements of a building. Not only do they filter light into a building and offer views, but they can also significantly help with the energy efficiency of a building. Windows can be a major source of unwanted heat gain in summer and significant heat loss in Winter. An average building has 87% heat gain and 49% heat loss through its window.

You can prevent up to 77% heat transfer and drastically reduce your footprint and energy costs with the right energy-efficient windows.

Colin Grace. A refection on a career – or just navel gazing…

At the recent SCA NSW Annual Conference dinner I was honoured to be awarded life membership. Wow, what do you say except thank you…

As anyone who has listened to my boring old story, I left school at 16 after being encouraged by the Principal (and the local Police Detectives!) that it would be better for me to try and get a job than doing more stupid things at school for another 2 years.

The difference between those that get somewhere and those that don’t is persistence and the power to keep moving forward. I hope I have made a difference to not only the strata industry (which has been the only constant in my life) but to people’s lives for the better.

Play safe with strata repairs

Working at height is key to remedial building work in a strata scheme, especially in multi-storey buildings. This high-risk environment emphasises the importance of safety to all stakeholders, from lot owners and building occupants, to contracted businesses and workers on site.

Strata committees and decision makers should be thorough in their appointment of remedial builders.

Unraveling the responsibility for upstairs water leaks

It is not always clear whether water ingress results from defective common property, or whether it is originating from another lot, usually being the lot directly above. Generally, where water ingress is being caused by another lot owner, it is due to renovation works being carried out in that other lot.

For a lot owner or owners corporation suffering from water ingress suspected to be coming from another lot, the correct course of action will depend on the specific circumstances in each instance of water ingress.

DBPA Fast Fact sheet: balcony doors

Addressing some of the misconceptions around the impacts of the Design and Building Practitioners Act on window and door replacement projects.

When can a balcony door be replaced without adhering to the DBPA?

What are the requirements if the balcony doors fall under the DBPA?

What is a termination height?

What tasks might be needed when replacing balcony doors as under the DBPA?

How to choose the right painting company

When it comes time to paint your strata building, choosing the right painting company is essential. A well-executed paint job can greatly enhance the appearance of your building, while a poor job can be a major setback.

To ensure you hire the right painting company, it’s important to consider the following factors: experience & expertise, scope of works, written specification, quality of products & equipment and timeline and deadlines.

 

 

 

Strata Community Association NSW