Conflicts & Disclosure
Block Strata Pty Ltd is a wholly owned subsidiary of Block Strata Management Systems Pty Ltd, the shares of which are held by Jacqueline Bartholomeusz (Managing Director). Block Strata Pty Ltd has a licence to use the trademarks and intellectual property owned and developed from time-to-time by Block Strata Management Systems Pty Ltd. This includes the trademarks and intellectual property associated with MyBlock™ BlockMatic™ WikiBlocks™ and StrataSpace™.
From time-to-time Block Strata Pty Ltd may do work for developers and promoters of strata and community titled property for no fee in return for being contracted or preferred as the strata manager for the property. The work that Block Strata Pty Ltd does in this regard, will always be in the interests of the future owners of the property concerned and where there is a conflict between those interests and the interests of the developer / promoter, the interests of the future owners of the property will come first. Where Block Strata Pty Ltd accepts and appointment from a developer / promoter this will be disclosed at the first meeting of the future owners with an outline of the work which has been done by Block Strata relating to that property.
Block Strata Pty Ltd may receive a commission from insurers and insurance brokers where insurance is arranged on behalf of a scheme managed by Block Strata Pty Ltd. This commission may be up to 20% of the insurance premium paid by the scheme and may be shared with the insurance broker appointed by Block Strata Pty Ltd on behalf of the scheme. This commission subsidises the cost of strata management services provided by Block Strata Pty Ltd and in the event that it is not paid the fees paid to Block Strata Pty Ltd may increase subject of course to the terms of fixed price contracts. The commission arrangements for Block Strata Pty Ltd have been put in place based on representations by the insurers and brokers used by Block Strata Pty Ltd from time-to-time including CHU, SUU, Allianz, Zurich, Longitude on the basis that schemes that approach these insurers directly will not procure insurance on any more favourable terms than Block Strata Pty Ltd and its agents can arrange. Block Strata Pty Ltd will make disclosure to the scheme each time a commission is received.