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Building Defects – What if I do nothing about it?

Posted 18 May 2024

Category: Building Defects, eBooks

Failing to properly deal with building defects can result in the diminishment of your property value, insurer’s no longer offering cover and can also lead to further economic loss.

In the case of defects in strata, if outside the relevant statutory warranty period the defects will become the burden of either the lot owners (if lot property defects) or the Owners Corporation to rectify at their own expense.

Major defects can be expensive to rectify and can pose a serious threat if ignored. If major defects are left unattended, they can lead to the inability to use or inhabit the building, potential destruction of the building or serious threat of collapse. All these ramifications not only affect the value of your property but can also pose serious risk to your personal safety.

Building Defects Advice

Strata committees & lot owners

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***The information contained in this article is general information only and not legal advice. The currency, accuracy and completeness of this article (and its contents) should be checked by obtaining independent legal advice before you take any action or otherwise rely upon its contents in any way.

 

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This is an extract from our Bannermans Building Defects Guide – Part 1.

To access more FAQ'S on Building Defects fill in the below form to download our Bannermans Building Defects Guide – Part 1 for free.

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Bannermans Lawyers

Published 18 May 2024
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