353. Claims for lost rent | approving double glazing | a smooth major works project
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Links Mentioned:
- Get the transcript here!
- Section 106 | Duty of owners corporation to maintain and repair property | Strata Schemes Management Act 2015 | NSW
- Podcast Episode No. 186. Dealing with damage caused by lot owner + compulsory appointment success
- Section 52 Residential Tenancies Act 2010 (NSW)
- Ask Amanda Now: One Strata Question Answered- 9 December 2022
- Section 110 | Minor renovations by owners| Strata Schemes Management Act 2015 | NSW
- Section 28 | Minor renovations by owners| Strata Schemes Management Regulation 2016 | NSW
- Photo of Eastgate Gardens
- Photos of Eastgate Painting Project Provided by Alan Bloomfield
- Eastgate Gardens Video
Not that i understand – there is retrofitting double glazing to reduce cost and to hide changes so you dont need to get approval.
* These days meetings are online. So its no longer justified to charge 1000 bucks for a meeting if needed… even a meeting is not necessary for minor works.
* When you benefit from a reno everyone does – its people’s homes and when you restrict this then you make them unhappy and therefore you make the environment less happier for everyone… so equally both sides cant abuse bylaws and strata power… but many on the straza committee also seem to forget that.
Hi Amanda, thank you for this session including the input for the highly experienced Reena Van Aalst. The issue of loss of rent and the associated issue of alternative accommodation, is a vexed one. Depending on the cause, a claim on an OC by a lot owner, in this regard will likely require the OC to make a claim an insurance claim, which raises the question of sufficient cover. Claims may include, emergency accommodation, removalist charges both moving out and in, rent in the temporary location, tenancy break fees and cleaning. Typically loss of rent/alternative accommodation is set at a percentage of the building sum insured. It is worth considering if this ‘rule of thumb’ is really the best approach in all instances.
By interesting coincidence the the Bondi Junction towers you and Reena were discussing later in your podcast was subject to an insurance claim for alternative accommodation many years ago and in this real life situation the cost were significant and led the OC to give particular consideration to the level of cover they had for this component of insurance.
As a valuer in addition to insurance valuations, I have been involved with several, usually larger schemes who have taken the prudent step of having a separate assessment carried out for loss of rent/alternative accommodation.
I also note that in the this era of significant defect claims, owners and tenants are regularly required to move out whilst rectification works are carried out. This can lead to significant claim including court action for recovery for loss of rent/alternative accommodation.