Ensuring you are never out of pocket All for a low fee of $11.95 + GST per unit, annually
About Us At Strata Cover Australia, we’re dedicated to ensuring you are never out of pocket with respect to receiving Body Corporate levies Numerous Australian property owners neglect to pay Body Corporate levies leaving Bodies Corporates short of funds, out of pocket and unable to fulfil their duties. Bodies Corporates incur significant legal fees and waste countless hours in pursuing these claims.
Save hours of time in chasing unpaid levies
Bodies Corporates around Australia are turning to Strata Cover Australia as they provide a cost effective and reliable solution. At Strata Cover Australia we reimburse Bodies Corporates for any unpaid levies and legal fees incurred in pursuing these unpaid fees:
No more using Body Corporate funds to foot ongoing legal fees.
100% of the levies goes straight into the Body Corporate’s account.
All for less than $1 per unit, per month.
FAQs What do we cover?
How do I lodge a claim?
Strata Cover Australia covers the bodies corporate of any unpaid levies from a defaulting lot owner.
Simply contact us for a form at info@stratacoveraust.com
Why do you need strata cover? Numerous lot owners do not pay their levies. Getting the defaulter to pay their levies can be a long, stressful and expensive process. Strata Cover Australia pays you the outstanding levies and takes responsibility for recovering amounts owing by the defaulting lot owner.
Is there a limit on the number of claims? As long as the annual premiums have been paid there is no limit on the number of claims What if the lot owner defaults on two or more consecutive quarters? Simply lodge multiple claims with Strata Cover Australia.
What is the annual cost of cover?
Why have I received a letter from Strata Cover Australia?
Cover is $11.95 plus GST per lot per year. Please contact us on an application form.
If you have received a letter from Strata Cover Australia it is because you have failed to pay your strata fees and you should call us immediately on 1300 081 511 to avoid further penalty.
Do all lot owners in a unit block have to be included? Yes as part of the terms and conditions all lot owners must contribute to the levy. At what stage does the Body Corporate contact Strata Cover Australia? You can view our claims process on the next page for details of when to contact Strata Cover Australia.
What if Strata Cover Australia fails to recover the debt? This will in no way affect the bodies corporate bond levy. Will Strata Cover Australia negotiate on the debt? Strata Cover Australia will not compromise the body corporate debt but may negotiate a time frame for payment.
The Product Strata Cover Australia (SCA) offers an irrevocable levies bond for less than a $1 per month per unit to bodies corporate to indemnify the body corporate from the risk of any unpaid levies. The levies bond is irrevocable promise by SCA that it will pay to the body corporate any outstanding levies within five (5) working days of a claim being made by the body corporate in accordance with the terms and conditions of the bond.
BODY CORPORATE CLAIMS PROCESS
Day 0 The Body Corporate raises a levies statement for the quarter and sends the statement to the individual lot owner.
Day 14 A reminder notice is sent by the Body Corporate to the lot owner requiring payment of its/their outstanding levies.
Day 30
Day 45
A further reminder notice is sent by the Body Corporate to the lot owner requiring payment of its/their outstanding levies.
A final notice is sent by the Body Corporate to the lot owner requiring payment of its/their outstanding levies.
SCA CLAIMS PROCESS
Day 59 The Body Corporate submits a completed claim form to SCA for payment of outstanding levies owed by a delinquent lot owner.
Day 64 The Body Corporate receives a payment from SCA of 100% of the outstanding levies plus reasonable recovery costs incurred by the Body Corporate during the initial 45 days.
Day 62 SCA advises it has received a claim from the Body Corporate for outstanding levies by a delinquent lot owner and provides notice to the lot owner of the claim.
*Body Corporate processes may vary from Body Corporate to Body Corporate
1300 081 511 info@stratacoveraust.com www.stratacoveraust.com