FINANCIAL & LEGAL

Introduction Strata insurance is often misunderstood. Many owners assume “the building is covered” means everything inside their lot is too — but that’s not the case. This guide breaks down what strata insurance usually covers in NSW, what it doesn’t, and what you as a lot owner are responsible for. Strata insurance protects the building and common property - but not everything inside your lot 1. What Strata Insurance Usually Covers Strata insurance policies in NSW generally

From 1 July 2025, significant updates to the Strata Schemes Management Act 2015 have come into effect. These reforms bring new...

If you own a property in a strata scheme, you’re probably familiar with quarterly levies (or “strata fees”) that help cover the...

If you own property in a strata scheme, paying your levies on time isn’t just good manners — it’s essential to keeping your building running smoothly. These contributions fund everything from cleaning the common areas to repairing the roof, maintaining the gardens, paying insurance, and more. But what actually happens if you don’t pay on time? Let’s break it down. 1. Interest charges start adding up Under NSW strata laws, if your levies aren’t paid by the due date, the Owners

A friendly guide from the strata experts at Centric Strata When you live in a strata property, you’re part of a community — and like any...