In some instances, brokerage fees were found to be as high as six times the typical industry rate, with fees reaching up to 148% of the base insurance premium. This lack of transparency has led to feelings of betrayal among property owners, who expect their strata managers to act in their best interests.
These revelations have sparked calls for greater oversight and regulation within the strata management industry to ensure ethical practices and protect property owners from excessive fees and undisclosed financial arrangements.
