The ABC’s Four Corners will broadcast its investigation into the strata industry on Monday – and it could be an uncomfortable watch for strata managers and brokers.

Earlier this year, the ABC reported that strata management firm Netstrata had been using its wholly owned insurance arm to charge apartment owners excessive brokerage fees.

The NSW government has since introduced new legislation, but a follow-up from the broadcaster has long been expected after it asked members of the public to get in touch with their stories and more than 2000 responses were received.

The preview for Monday’s show, entitled The Strata Trap, does not mention insurance specifically but says it will expose “the graft and greed of the industry” and reveal that “most states have turned a blind eye to the problems”.

The ABC says the Four Corners team investigates “key industry players” and uncovers “the unethical practices that have drained untold sums of money from apartment owners’ pockets”.

It is expected to include allegations relating to the insurance process, plus other strata-related concerns.

The program’s trailer indicates Steadfast CEO Robert Kelly will rebut some industry criticism, and he is shown saying: “Whoever told you that’s lying.”

Steadfast previously commissioned a report on strata remuneration across the industry, carried out by consultant John Trowbridge. The report flagged concerns with some remuneration arrangements.

Australian Consumers Insurance Lobby chair and Queensland broker Tyrone Shandiman has campaigned for action on “unethical behaviour” by strata managers that he believes has been enabled by some brokers.

“This is the story we’ve been waiting to be told and it should come as no surprise to the industry that it’s finally airing,” he told insuranceNEWS.com.au.

“The Four Corners program is set to bring to light the questionable practices we’ve been raising and advocating against for more than 12 months. 

“The insurance issues are just the tip of the iceberg, and we anticipate the program will uncover much more. It will be crucial to see how regulators respond to the serious concerns that are likely to be exposed.”

Click here to watch the trailer for the program.

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