Body Corporate and Strata Schemes around Australia have different requirements according to the state
regulations.Most Complexes are managed by a Strata or Body Corporate Manager and some are self managed. Each
complex is different in it's workings, but there are some common reporting practices that are required by law in
being a Responsible Business Corporation.
The Replacement Insurance Value is the sum of money it would take to construct a building with the same functional
use and of the same useable area as the Original building. The new building would also have to conform to
regulations and bylaws since the original date of construction.
Insurance Valuation Report