What is a maintenance plan? A maintenance plan is where all lot owners in an Owners Corporation contribute fairly towards common property maintenance. In order to develop an effective maintenance plan, adequate planning is required to ensure that funds are allocated appropriately and that excessive funds are not collected through special levies. The budget should
As strata insurance premiums continue to skyrocket – is Insurance Premium Funding the timely solution for strata communities? Insurance Premium Funding: What is it? Insurance Premium Funding (IPF) is a financial solution designed to help Owners Corporations manage their insurance costs more effectively. It allows owners to spread the cost of insurance premiums over time,
How secure is your driveway gate? Did you know that there are devices which can scan and copy the frequency of remote controls used to operate driveway gates from 50m away? These devices are particularly effective with 125Khz (low frequency) fobs and are readily available for purchase online. This creates a concerning security risk for
In 2021, The Knight launched our webinar training series, designed to equip Committee Members with the knowledge and skills needed to perform their duties and support functional, harmonious communities. The fourth session was held on 17 May 2023 titled ‘The Role of a Building Manager‘ and covered: The role and scope of an Owners Corporation
In an Owners Corporation (OC), there can be additional roles, aside from an Owners Corporation Manager (OCM) that can support your OC. A Building Manager (BM), caretaker or cleaner works in conjunction with the Committee and OCM to ensure that residents and owners are supported, and the building is well maintained. If you live in
The benefit principle is simple in premise; when levying for ‘extraordinary items of expenditure’ that do not benefit all owners equally, the owner that benefits more, should pay more. In application, things aren’t quite so simple. What is the ‘benefit principle’? The benefit principle first appears in Section 24, subsection 2(A) of the Owners Corporations
For those living in multi-dwelling properties, the idea of short stay accommodation (e.g. Airbnb, Stayz) may conjure some negative experiences. While recent amendments to the Owners Corporations Act have provided additional methods for managing short stay within Owners Corporations via the rules, implementing a ban still requires a special resolution, which can be difficult to
On 31 August 2022, The Knight held our annual information evening, An Evening with The Knight. Our headline topic this year was ‘Creating Inclusive Communities’ and focused on accessibility and discrimination within buildings. We were joined by Bruce Bromley of Equal Access Group who shared his 30 years of expertise with us. To round out
Accessibility and discrimination within Owners Corporations. The topic of discrimination within strata properties is a complex one. Private property does not need to comply with the provisions of antidiscrimination legislations, such as the Equal Opportunity Act 2010 (EO Act). Owners Corporations however, despite being private property, cannot be treated in the same way as a
The most important role within an Owners Corporation is that of the Committee of Management. Working together with the Owners Corporation Manager, it is the committee’s role to ensure things are running smoothly. Without good governance, this can be an impossible task. We’ve rounded up some best-practice suggestions to help your committee and community thrive.
