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.
We make a point of, and take pleasure in the educational process for all of our strata council clients.
Related Article:
One of the most neglected & misunderstood areas of the Strata Property Act
More Strata Governance Pages & Articles:
- Strata Governance & How We Help
- The Truth About Strata Depreciation Reports
- Are There People in Your Strata Complex Getting a Free Ride?
- Myths Surrounding the Dreaded Strata Depreciation Report
- Strata Governance and Compliance. Do you know the difference?
- Your Strata could be NON COMPLIANT. How do you know for sure?
- Is Your Strata properly insured? Many are not and don't know it!
- How to avoid Personal Liability as a Strata Council Member
- One of the most neglected & misunderstood areas of the Strata Property Act
- Have strata councils expenditures been approved? How do you know?
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