Does a portfolio insurance policy meet the requirements of the Owners Corporations Act?
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I am a lot owner and committee member in a retirement village with an owners corporation. Under our management agreement, the village operator obtains the insurances required by sections 59 and 60 of the Owners Corporations Act 2006 (the Act) as part of a portfolio insurance program covering multiple retirement villages and other facilities such as aged care. Our owners corporation is listed as a named insured on those policies.
Should our body corporate manager have advised us before our sinking fund ran dry?
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We are a small lot community titles scheme (format plan) facing an urgent repair to a retaining wall and fences. The committee organised quotes and approved a company to complete the work. Beyond a couple of emails, our body corporate manager (BCM) has left us on our own despite our requests for help, as we don't feel we have sufficient knowledge. Dealing with adjoining owners, their agents and bodies corporate, along with short-life quotes, has been incredibly stressful for our treasurer and chairperson. The BCM said they could get involved in correspondence, but there would be a cost.
Can admin funds be used to maintain private courtyards?
Our strata plan has been using funds from the admin fund to pay for regular monthly gardening of the courtyards of 18 of our 86 lots. The courtyards in question are marked as "private" on our strata plan. Is this legal under the Strata Schemes Management Act 2015, or are common funds only for common property? According to the strata manager, because this has been done for years, it can continue despite my formal request that it stop.