If you're purchasing a strata-titled property in Sydney or anywhere across New South Wales, you’ve likely been advised to “get a strata inspection report.” But what exactly is it—and why is it so important? If you’re keen to find out more about the strata inspection report, this guide will walk you through what’s included, why it matters, and how it can save you from costly surprises down the track.
What Is a Strata Inspection Report?
A strata inspection report (also known as a strata records inspection or strata search) is an independent review of a building’s records. It provides buyers, investors, and property professionals with detailed insights into the administrative and financial health of the owners corporation (formerly called a body corporate).
These reports are typically compiled by licensed inspectors who access and analyse records held by the strata manager—such as meeting minutes, financial statements, insurance details, and defect reports.
Why You Should Find Out More About the Strata Inspection Report
While a building might look pristine on the outside, hidden issues often lie beneath the surface. A comprehensive strata inspection report can reveal:
- Whether the scheme has a healthy sinking fund
- Any special levies raised or planned
- Ongoing or historical building defects
- Legal disputes involving the owners corporation
- Insurance coverage and claims
- By-law breaches or unresolved complaints
By taking the time to find out more about the strata inspection report, buyers can make informed decisions and avoid unexpected costs or legal hassles after settlement.
What’s Typically Included in a Strata Inspection Report?
While formats may vary depending on the provider, most strata reports cover:
- Financial Statements
Including the balance of the administrative and capital works funds, outstanding levies, and any overdue payments by lot owners. - Meeting Minutes
From Annual General Meetings (AGMs) and committee meetings, offering insight into issues raised, resolutions passed, and any conflicts within the scheme. - Building Defects or Maintenance Concerns
Any current or historical issues—such as water ingress, structural cracks, or facade repairs—that may affect the value or liveability of the property. - Insurance Documentation
Details about building insurance policies, public liability coverage, and any claims made by the scheme. - Compliance Items
Including fire safety certifications, asbestos management plans (if applicable), and by-law enforcement actions.
Who Should Order a Strata Inspection Report?
Anyone considering purchasing a property in a strata scheme should seriously consider ordering a report—especially first-home buyers, investors, or downsizers unfamiliar with strata management.
Buyers’ agents and solicitors often recommend these reports as part of due diligence before exchanging contracts. While not mandatory, they are considered best practice and are relatively low in cost compared to the potential financial risks of going in blind.
How to Obtain a Strata Inspection Report
There are two main ways to access a report:
- Engage a professional strata search company, which will visit the strata manager’s office or access the digital records to compile the report
- Request access to the records yourself (if you’re comfortable navigating strata documents)
At Strata One, we make it easy for authorised individuals to access records upon request, in accordance with the NSW Strata Schemes Management Act.
What If the Report Reveals Red Flags?
Not all issues in a strata report are deal-breakers. However, if you notice red flags such as multiple building defect claims, legal disputes with developers, or significant unpaid levies, it’s worth speaking to your solicitor or conveyancer before proceeding.
In some cases, you may renegotiate the purchase price or walk away altogether, depending on the risks involved.
Final Thoughts
If you’re buying into a strata scheme, don’t rely solely on the appearance of the property or the selling agent’s word. Taking the time to find out more about the strata inspection report gives you the information needed to make a confident, well-informed purchase.