A strata inspection report is a full review of the Owners Corporation records. Before you spend a small fortune on a strata-titled unit or townhouse, it’s good to know the kind of people and issues you’ll be dealing with. It could save you from buying a property that’s going to cause you financial and emotional stress in years to come.

When do I need a strata inspection report?

A strata inspection report only applies if you’re buying a strata-titled property, such as a residential unit or a townhouse within a complex. If you’re buying a house, then you need a building inspection report instead.

Bear in mind that a strata search can take a week or more to obtain. If you are serious about the purchase of the property ensure you allow adequate time for the report to be obtained.

What the strata inspection report covers

A strata inspection report covers all the aspects involved in running and maintaining a block of properties, and all the common areas that go with it, including:

• Current property ownership and voting rights
• Structural or building defects
• Planned or previous major works
• Quarterly levies and proposed special levies
• Capital works fund forecast
• Strata scheme insurance
• By-laws including items such as pet and parking policies
• Compliance documentation such as fire or lift
• Disputes or breaches of by-laws
• Minutes from Annual General Meetings and Executive Committee Meetings