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Strata News
  Tower Body Corporate 
 May Edition

This month, we cover the following:

What does Flood Insurance cover? Find out in this article by Whitbread Insurance Brokers. We look at the implications for strata investors after the Federal Budget. Our Q&A this month covers 10 year sinking fund forecasts and we also explore the difficulties around the termination of Management Rights Agreements

This complimentary newsletter forms part of the comprehensive service provided to you - by keeping you informed and up to date with important news, including any changes that are happening in the Strata Industry. It contains news and articles relating to apartment living in the South East Queensland region.

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Kind Regards

The Team at Tower Body Corporate

Strata Investment Owners Hit Hard by Budget Changes

Kaylene Arkcoll,
Leary & Partners

Purchasers of second-hand residential investment units have lost their ability to claim depreciation on plant and equipment which is part of the property at the time of purchase.

Is it possible to terminate a management rights agreement?

Frank Higginson,
Hynes Legal

The termination of management rights agreement is very difficult and the judicial system is filled (in a relative sense) with failed attempts of bodies corporate to do so.

Q&A Implementing the 10 year sinking fund forecast

Frank Higginson, Hynes Legal
Question: For the last two years the Body Corporate has significantly underspent against the current year expense forecast and then rolled the surplus into the next 10 year Sinking Fund forecast.

Flood Insurance Cover in Residential Strata properties

Ann Farrugia,
Whitbread Insurance Brokers

In the aftermath of a flood, many depend on their insurance to help recoup their losses, however more often than not, people are distressed to find their Strata Insurance policy does not cover damage as a result of flood.

Latest News

Three of the best new developments in south-east Queensland

Bernadette Condren, Domain
29 May

Your inside look at some of the best new developments across south-east Queensland.  

Strata squatters and illegal land grabs on common property

Jimmy Thomson, Domain
27 May

Of all the twisted skeins of flawed logic that wind through Strataland, the land grab is one of the most popular, applying “common sense” to common property and coming up with something akin to fraud and theft.

What Gold Coast developments have been approved or dumped in 2016-17 by city council

Andrew Potts, Gold Coast Bulletin
24 May

More than 3000 development applications have been made to the Gold Coast City Council this financial year, including several multi million-dollar projects.

Brisbane flood study may help reduce premiums
8 May

Findings from a four-year Brisbane River catchment flood study are expected to increase mitigation efforts and improve premium pricing.

Apartment building defects

Jemma Castle, Choice
15 Sept 2016

It's often owners who end up having to foot the bill for apartment building defects, potentially adding huge rectification costs to the price of an already hefty purchase.
National Property Clock

National Property Clock May 2017

Herron Todd White
Queens Wharf

Brisbane: Australia's New World City

Queens Wharf Development
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