AVOIDING PERSONAL LIABILITY WHILE ON COUNCIL

April 10th, 2016 | Articles,Education,Landlord Tips,Real Estate Investor Tips | No Comments »

HOW TO AVOID PERSONAL LIABILITY AS A STRATA COUNCIL MEMBER

Attention Council Members! Wanna Avoid Personal Liability?
Strata Councils should note that Section 151 of the Strata Property Act should always be maintained to protect council members from any liability and/or expenses for errors and omissions.

IMPORTANT! Council members should be advised that should they knowingly fail to act in the best interests of the owners in anyway while carrying out their duties, they could find themselves being personally liable for their failure to act and not be covered by the Errors and Omissions Insurance coverage…Ouch!
The best way to avoid personal liability as a council member is to understand the Strata Property Act and work with your management company to make sure the decisions council makes are within the guidelines and bylaws. It sounds so simple, yet surprising how many councils have made errors and become open to liability, simply by not knowing the rules of the Act.

To check out more, or to learn about a better strata management system, go to ALL PROPERTY CONSULTING 

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