Insurance Valuations – Important Information
Wednesday, December 11th, 2013Maintaining a current assessment of the Insurance Replacement Value of Strata Titled complexes is important, particularly with the building construction costs escalations in recent years. In addition to building replacement costs, consideration needs to be given to changes in Town Planning Schemes and Zoning, particularly if the current zoning does not support or prohibits the replacement of the whole of the existing strata development. This is more essential within older suburbs where councils have made changes to their local Town Planning Schemes since buildings where originally constructed. Strata Complexes and their owners may be under insured and in risk of ...
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