How is strata insurance shared in a two-lot scheme?
We own a lot in a two lot strata. One building size is 148m2, and the other is 307m2. Are we required to pay strata insurance as a percentage based on building size?
On our schedule of lot entitlements, our contribution is 1:1.
But our interest is:
- 14 - neighbour
- 11 - me and my partner