Strata Reports
Buying a property within a strata scheme — such as an apartment, townhouse, or villa — is different from purchasing a standalone home.
When you buy into a strata complex, you’re not just purchasing the individual unit — you’re also buying a share in the common property and taking on a share of the overall responsibilities and costs.
Conducting proper due diligence is essential, and obtaining a strata inspection report is a key step.
What is a Strata Report?
A strata report is a detailed document that provides valuable insights into a strata-titled property.
Prepared by a specialist strata inspection company, this report reviews records held by the Owners Corporation and includes information about:
- The building’s maintenance and condition
- Financial records and sinking fund balance
- Past and future repairs
- By-laws and building rules
- Insurance policies
- Disputes, legal matters, and compliance issues
Think of it as a behind-the-scenes snapshot of how the property is run — and an essential part of your due diligence before buying.
Why You Need a Strata Report When Buying Property in Sydney
If you’re considering buying a strata-titled property, a strata inspection report is one of the most important tools at your disposal. It gives you a clear picture of how the building is managed and can alert you to any red flags, protecting you from unexpected costs or legal issues after settlement.
Below are some of the things a good strata report can tell you:
Property Condition
- Shows past and current maintenance and repairs
- Highlights defects or damage to common areas (e.g., cracks, leaks, roof damage)
- Helps you budget for any upcoming work
Legal Issues
- Reveals any disputes between owners
- Flags current or past legal action involving the Owners Corporation
- Helps avoid unexpected legal problems after you buy
Financial Health
- Details the amount of regular strata levies
- Shows the balance of the sinking fund (used for major repairs)
- Identifies any special levies you may have to pay
Building Compliance
- Confirms the building follows required by-laws and regulations
- Identifies issues with fire safety, access, or insurance
How Do I Order a Strata Report?
Step 1: Ask the Selling Agent
Start by asking if a strata report is already available. The vendor or their agent often commissions a report during the sales process. You may be able to access it:
- For free, or
- For a reduced fee through a third-party platform
Step 2: Order Your Own (If Needed)
If no report is available — or if you’d prefer an independent opinion — you can arrange your own. Here’s how:
- Get recommendations from your solicitor, buyer’s agent, or conveyancer
- Search online for well-reviewed strata inspection companies
- Provide the property address and strata plan number
- The inspection company will access the records and prepare your report (usually within 1–3 days)
How to Review a Strata Report
When you receive your report, it’s important to review it carefully — or have a professional do it with you.
Key Things to Look For
- Are there major repairs or maintenance works planned?
- Is the sinking fund balance adequate for the building’s age?
- Are there any active disputes or legal issues?
- Is the building compliant with all relevant by-laws and regulations?
Need Help?
Strata reports can contain complex financial and legal details. If you’re unsure about anything, ask your solicitor, conveyancer, or buyer’s agent to walk you through the report. It’s worth it for the peace of mind.
Final Thoughts
Buying into a strata scheme means you’re not just buying a property — you’re buying into a community and shared financial responsibility. A strata report gives you the clarity and confidence to move forward with your purchase — or walk away if needed.
Don’t skip this step. It’s one of the most valuable ways to protect your investment before signing on the dotted line.
