NSW Strata Renovation Loss of Rent?

If strata has decided to do a whole building renovation, which will affect rental income, if able to be rented at all, is there anything you can do for the potential loss of income during the renovation?

 

Are you complicit in voting for the works as part of the OC, contributing to the sinking fund etc?

Will the entire site be vacant/uninhabitable during the works? What sort of works?

 

I'm asking for someone else so its not my unit but they did not vote for the works, but will have to contribute to the works, its a balcony upgrade/ renovation by the sounds of it and they have advised 10 weeks, others units were already tenanted so just organised a temporary lower rate.

 

Best they can do is to offer a rent reduction. Works to each unit probably won't take 10 weeks but there would be some disturbance and loss of use of the balcony.

 

So has your someone else checked with their Landlord Insurance provider as to whether or not a claim is in order?

 

A lot of upgrades/ renovations for balconies are due to the fact that they have determined to be non-compliant by a structural engineer.
The lot owners may have no real say in the matter
The 10 week period might be the time it takes to do the entire project, not specifically each unit.

 

Check your Strata Building Insurance. Ours have a component for 'Lots of Rent', not that we've used it, touch wood.

 

Complex isn't in Morningside QLD by any chance is it?

 

Sorry silly spell-check, should be ,”Loss of rent”

 

How did you go @Alex123711?

 

Nah! I Preferred the original inclusion.

 

Alex, it depends on the circumstances... NSW: Some Common Property Just Reached Into My Pocket