Insurance for bodies corporate - organisations for owners in a complex - was near impossible to get for buildings in flood zones.
Flooding has hit many complexes along the Brisbane River, such as in the western suburb of St Lucia.
"It's quite a huge issue," Viane Watson, executive officer of Community Titles Institute Queensland, said.
CTIQ predicted the cost of repairs for common property, which can include pools, lifts or even walls, would have to come from unit owners.
Insurance for complexes typically involves the body corporate taking out cover for common property, and residents buying their own contents protection.
Industry sources said one key issue was that reinsurers - who cap the damage bill for insurance companies - refrained from protecting insurers for covering bodies corporate in such a disaster.
