Strata Insurance covers damage that is caused to shared living options, like units and town houses. It can include shared use areas like stairwells, walls, gardens, garages, waste areas and driveways. Effective Strata Insurance from Sure Insure makes the difference between swift agreements or ongoing disputes. Why? Because managing peoples’ lives can be emotional and tricky.
Tailored Strata Insurance is always essential. This is because of the large number of people who occupy a blocks of housing. These people can be owners, tenants, managers, their families and, often, pets. But a lot of different people and a lot of different lives, habits and usage can lead to very complex situations.
Strata comes with shared plumbing, electrical supply and strata rules. These affect thing such as painting colours and storage allowance. Standards and rules are needed, but can cause arguments, large single claims, counter-claims or complex issues between individuals. To try to avoid lawyers getting involved it is always best to ensure that you have extensive cover. Make sure your policies are up to date and evolve to cover existing and new occupants. This is especially important if the tenant or owner has specific needs such as disability access.
If you are buying a single property with the intention of becoming a landlord with a single tenancy agreement, please click this button.
