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The Body Corporate and Community Management Regulations requires that a body corporate must be insured for full replacement value, which includes the above items such as removal of debris and consultants fees. The regulations also require that a valuation be carried out a minimum of every 5 years.
Regardless of the original construction cost, to ensure you are properly insured for an insurable event the estimate must include; escalation, demolition/removal of debris, re-design fees and local authority application fees. These are all significant costs over and above the construction cost.
practicable and affordable solutions across a range of streams including
Work Health & Safety
Sinking Fund Forecasts
Tax Depreciation Schedules
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