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Cost of Faulty Waterproofing
Published:
01 Mar 2007
Author:
Robyn Short
Source:
Property Council of Australia
Leaking shower screens, warped floor boards, balcony damage, wet carpets, shower membrane failure ... These are just some of the standout building defects occurring in Australian seaboard capitals. Wet areas - outside areas affected by rain or dew and inside areas such as bathrooms - are showing signs of leakage and the river runs deep.
Waterproofing failures rank among the top 10 building complaints from residential owners' corporations on behalf of owners and tenants. Vero Insurance Ltd in NSW reported they accounted for around 15 per cent of accepted insurance claims nationally between June 2005 and March 2006, totalling more than $1 million in just nine months.
Vero Insurance Ltd reports rectification costs for waterproofing failures in residential buildings ranging between $8000 and $20,000. This is clearly an expensive problem for the building industry.
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