Strata Report

For buyers considering an apartment, unit, or townhouse within a strata scheme, a strata report typically covers the balance of the administrative and capital works funds, any special levies planned or recently raised, minutes from recent owners corporation meetings, and any disputes or defects noted in building records. Buyers agents commonly recommend ordering a strata report as a condition of due diligence before exchanging contracts on any strata property, since undisclosed special levies or building defects can materially affect a property's ongoing costs.