Measures a Body Corporate can Implement to Help Manage the Cost of Insurance

Strata buildings with poor maintenance practices are at risk of facing higher insurance premiums.

By demonstrating consistent building maintenance and upkeep of common property to an insurer, as well as ongoing maintenance of the lots, a body corporate is more likely to secure competitive market premiums.

Premiums aside, it’s a statutory requirement for all strata titled buildings to maintain and repair common property. Neglecting regular repair and maintenance activities can lead to recurring issues within the building.

Repair and Remediation of Long-Term Issues

Water damage is one of the most common issues in strata buildings and damage from a burst or leaking hose or pipe can severely impact the common property and lots in the building, especially if the issue isn’t identified and promptly and appropriately remediated.

Installing stop flow valves can help by halting the flow of water during sudden events. Understanding that flexi hoses have a limited lifespan, putting a general maintenance schedule to check and report on the condition or replacement of each lot’s flexi hoses is highly recommended. Numerous insurance claims could be avoided or minimised through cost-effective and sensible maintenance measures.

Roof and Gutter Deterioration

Maintaining roofs and gutters can provide long-term savings for a body corporate. Signs of deterioration to watch for include:

• Discolouration on walls: This can indicate leaks or blockages causing overflows, potentially leading to expensive repairs as water finds its way into the building.

• Gutters out of alignment: Over time gutters may come away from the walls, allowing water entry during rain events.

• Misaligned metal roofing panels: Metal roofing should be straight and uniform; misaligned panels can cause leaks in the apartments below.

• Debris and dirt in gutters: Sediment build-up, often from tree debris and dust, should be cleared frequently to prevent drain blockages near downpipes.

Appointing a licensed builder and/or specialist tradesperson for ongoing maintenance of your strata building can ensure it remains well-maintained in accordance with statutory requirements.

They can also provide valuable advice on best maintenance practices to keep your building in optimal condition.

For further information on managing common building, maintenance and insurance issues, visit our Strata Toolkit on the Strata Community Insurance website.

We sincerely thank our Platinum Partners Strata Community Insurance for this editorial.