Q&A: Strata manager will not disclose their insurance commission

Q&A: Strata manager will not disclose their insurance commission

Q:

We have repeatedly asked our strata manager to disclose the insurance premium and their commission. We’ve failed to receive satisfactory supporting documents. What is the best approach in regard to this matter?

A:

Obligations are limited to disclosure of the amount or value of the benefit (and do not arise if the amount is less than $100). A strata manager’s obligations in relation to disclosure of any remuneration or other benefits they receive are set out in section 147 of the Act and regulation 100 of the Regulations. Those obligations are limited to disclosure of the amount or value of the benefit (and do not arise if the amount is less than $100). Therefore, they do not necessarily have to disclose any further information. The contract you have with the strata manager might also contain terms that are relevant. Information about the insurance premiums that a strata company is paying (as opposed to any commission that the strata manager is receiving in relation to that insurance) is information that belongs to the strata company and should be provided if requested.

This article by Carolyn Meighan, our special counsel in Perth, June edition of the LookUpStrata Pty Ltd WA Strata Magazine.