If you are buying a villa or a unit, then it is imperative that you obtain a Strata Report to ensure that there are no hidden problems with the management of the complex or issues that would affect your decision to purchase.
We perform strata searches and reports covering the entire Sydney area including:
- Strata Inspection Reports
- Community Reports
- Company Reports
- Neighbourhood Reports
Strata inspections comprise of an inspection of the books and records held by the strata manager. The inspection generally include the following;
- Who is the current owner?
- What are the quarterly levies for the property?
- What are your voting rights? What is your unit entitlement?
- When are the levies paid to?
- Have there been? Are there any current or proposed Special Levies (additional contributions outside your quarterly levies that may be raised for building defects or major works)?
- Does the Strata Scheme comply with Fire Requirements, Work Health & Safety Obligations and Asbestos Management?
- Is there any information in the records approving animals? Are animals permitted?
- How much is in the sinking fund and Administrative Fund? Are any of the funds in deficit?
- Are there any current legal matters? Have there been any legal matters in the past 3 years?
- Building Defects or Home Owner Warranty Claims for Defects;
- Breaches of By-Laws (Rules and Regulations for this building);
- Is there any disharmony?
- Major Income and Expenditure over the past 3 years;
- Proposed Major Expenditure;
- What is the current value of the building?
- Is the building insured and if so adequately insured? (details of the insurance and cover);
- Are there any compliance related matters within the records such as window and balcony compliance?
- Is there a Sinking Fund Forecast? (a report prepared detailing what the levy contributions should be over the next 10-15 years including detailed maintenance);
- Are there any known disputes within the Strata Scheme;
- Copies of Annual General Meeting Minutes, Extraordinary General Meeting Minutes and Executive Committee Meeting Minutes;
- Copies of building reports, extracts from compliance reports.
