Standard Unit Description Services
What is a “Standard Unit Definition”, and why is it important?
A Standard Unit Definition is a notional description of what parts of a typical condominium unit are to be maintained and insured by the Condominium Board.
This is important because the care, maintenance, and insurance coverage for all other parts of a typical unit is the responsibility of each owner.
The Standard Unit Definition for your development will detail exactly what the Condominium Board is and is not responsible for. This will reduce the risk for all parties because it creates certainty about who is responsible for what.
How can Suncorp help?
Suncorp has over thirty years of experience supporting condominium administration, including provision of Replacement Cost appraisals for insurance placement purposes, and development of Reserve Fund Studies.
Suncorp has also provided our expert advice to numerous jurisdictions in the development of legislation and regulations governing condominiums; because of this, Suncorp is uniquely qualified to assist you with developing your Standard Unit Definitions.
Suncorp offers a specialized service to provide you with draft Standard Unit Definitions, tailored to your condominium development.