Before entering into any strata management scheme it is critical to ensure you have a detailed strata inspection report completed by strata management experts.
Strata reports are very important when entering into an agreement to purchase a unit, villa or townhouse within a complex.
A strata report details the building’s history and financial status, any building works completed or pending, special levies, all expenses for the past two years, budget analysis and any of the Strata Management Act compliance issues. Strata reports investigate insurances, by-laws and any disputes or areas under investigation.
Strata reports are only necessary when purchasing into an owners corporation.
When buying a house, you won’t require a strata report; however, we do recommend undertaking a building inspection.
Financial records and reporting: Ensure the owners corporation has enough capital to effectively run the building, including an ample surplus to cover ongoing maintenance or large one-off capital expenditure if needed.
Disputes: Is there evidence of disputes or ongoing conflicts between residents or within the owners corporation? Are regular meetings properly conducted? Harmony within a strata scheme is advantageous.
Compliance and governance: The owners corporation must observe all compliance regulations under the Strata Management Act. This includes fire safety, asbestos management, insurance and health and safety regulations.
Building defects: Past records will give you a view into the building’s current condition and enable you to forecast any ongoing issues that may need addressing in the future. Water damage, concrete cancer, poorly maintained foyers and common areas, failing balustrades and falling facades will identify problems within the maintenance schedule of the property.
Don’t just take our word for it. Our clients stay with All Suburbs Strata Management for several reasons. We think it is because we work hard every day to ensure our clients don’t need to.
“As a committee, we were very confident with ASSM from the start. Their communication has always been fast, responsive and professional.”
“We have been with ASSM for the past four years. I have been very impressed with the high standard of communication and service we have experienced.”
“I have found that I can voice my concerns, and the team at All Suburbs will take them seriously and help find a solution that works for everyone.”
