Strata Report

A review of an apartment building's financial records, levy history, and known defects.

A strata report (also called an owners corporation search or strata records inspection) reviews the building's strata records: special levies raised in the past 5 years, sinking fund balance, by-laws, ongoing disputes, building defects and any major works planned. Essential for any apartment or townhouse purchase. Typical cost is $250 to $400; a poor strata report is one of the few situations where backing out of a high-deposit property purchase is justified.