Buyer Appeal Part 5: The Right Insurance Cover

Insurance is the Developer’s responsibility for the first 6 months following a development?s completion ? so it?s imperative that the correct cover is taken out to not only protect the corporation and its new owners, but to avoid a $15,000 penalty for failing to take out cover.

When it comes to Corporation Insurance, cover for common area and public liability is mandatory. From here a number of variables come into play depending on the by-laws for your group so it?s important to consult with a specialist in this area in order to ensure the correct cover is taken out.

So there you have it! For any developer, ticking these five topics off?your list will make for an easier journey on completion of your new development.

Related Articles |?Part 1: Privacy & Ownership,?Part 2: Hassle Free, Easy Living,?Part 3: Professional Body Corporate Management,?Part 4: A Healthy Sinking Fund