Strata report
A review of a strata scheme's records, covering finances, levies, repairs, disputes and building issues, for units and townhouses.
- Essential for apartments, units and many townhouses
- Shows levies, sinking or capital works fund and upcoming works
- Flags special levies, defects and disputes
What it covers
A strata inspector reviews the owners corporation's minutes, financial statements, capital works plan, insurance and correspondence. The report highlights anything that could cost you money.
Red flags
Look for low capital works funds, upcoming special levies, building defects such as cladding or water leaks, and ongoing disputes or litigation.
A cheap unit with a large special levy coming is not cheap. Strata costs reduce your net yield every year.
Common questions
Does a townhouse need a strata report?
If it is part of a strata scheme, yes.
How long does a strata report take?
Usually a few business days, so order it early.
Related terms
Sources
General information only. It does not consider your objectives, financial situation or needs, and is not financial, credit, tax or legal advice. Rules change, so check current law and get advice from a licensed professional before acting.