What is Strata insurance’s role in dealing with resultant water damage claims? One of the things that I want to point out is that it's absolutely, absolutely important that you first identify if there is an exclusion in your Strata insurance policy about water damage claims. Usually, there is an exclusion if the Strata insurer has identified that there is an ongoing and significant defects in the building where that's identified and there has been significant claims in the history of your development, there is a likelihood that the strata insurer dealing with the resultant water damage claims would be an exclusion, meaning no claim could be made that relates to resultant water damages. However, if such exclusion does not exist, there is an obligation for the strata insurer to deal with and accept a claim for resultant water damages. However, that is on the condition that the source of the water damage is first rectified permanently. And that could be done and that could be proven by the strata community and/or yourself once an expert report confirms in writing that the source of the water damage is now permanently fixed. That's when the strata insurance claim kicks in and it would be the strata insurance claim that would be dealing with and paying for the resultant water damage.

In this episode, I want to cover modifying common property, renovations and building issues. When it comes to altering or making alterations to common property, renovations and where there are building issues, the strata community needs to understand that everyone needs to be involved. To an extent where there's an executive committee or a committee.

Especially when there are significant amounts of money. Even though it's within your rights to raise those funds, it's important to not keep the rest of the owners in the dark when it comes to the works that's being carried out. Inform them of the benefits that the work is being carried out. Obviously, if it's required by the relevant authorities, inform them of that and continuously keep them informed. This also includes holding information nights.

Regular information nights, whether one or two or many turn up, keep issuing them and keep reminding them of that just because there's silence within the rest of the lot owners doesn't mean they're not reading. But if they do raise an issue, you could demonstrate as a committee or executive committee that you are actually holding this information sessions regularly even though not many of them show up.

Involving the rest of the owners, keeping them informed about modifying common property, renovations and building issues, so that they're aware of what's going on and everything that relates to the impact where they have to contribute financially and where it impacts their rights, they should be absolutely involved. And that's the reason why it's called Strata Community. I hope that this will give you and shed some light to you in how to manage dealing with works that impact common property. Particularly modifying it, renovating it, and also where there are building issues.

Today, I want to talk to you about the usual question as to why should I attend an annual general meeting? There are four key reasons why you as a member of the Strata community should attend annual general meetings. One, you need to be involved in the decision-making of the Strata community. That would impact the next 12 months and probably even more. By being involved, you realize that you will impact the direction of the strata community. So that's the first reason which is being involved in decision-making. Second decision. A second point is it gives you an opportunity to be heard. There is no point in expressing your views outside of the annual general meeting when you do not give yourself an opportunity to be heard by the other members of the strata community. Be heard but be heard at the right forum which is at the annual general meeting about your views, so that others can consider your views prior to voting on the motion. Third, you also need to understand what has happened in the past 12 months and where the current circumstances of the strata community are. That way, you could also make a better and informed decision on matters that are put forward. For a resolution by the strata community. And finally, four, it gives you an opportunity to nominate yourself or be nominated to be part of the committee who will make the day-to-day decisions on behalf of the Strato community for the next 12 or so months. You get a say on the daily operations. That is an opportunity for you, and that is done at the annual general meeting.