Report cost
$250–$400
Turnaround
3–10 days
Records covered
3–5 years
Also need
Building inspection
What is a strata report?
A strata report is an independent review of the records held by an owners corporation (body corporate in Queensland). A professional strata inspector arranges access to 3 –5 years of the scheme’s financial statements, meeting minutes, by-laws, insurance policies, maintenance records, and correspondence, then summarises what they found in a written report.
The purpose is straightforward: it tells you whether the building you are about to buy into is well managed and adequately funded, or whether there are hidden costs waiting for you after settlement. A strata report is not legally required in most states, but skipping it is one of the most expensive mistakes a unit buyer can make.
The report covers the entire strata scheme — not just the lot you are buying. That matters because as an owner you share financial responsibility for common property. If the building needs a $500,000 roof replacement and the capital works fund has $12,000 in it, every owner will be hit with a special levy.
Strata report vs building inspection
Buyers sometimes assume a building inspection covers everything. It does not. A building and pest inspection examines the physical condition of your specific lot — cracks, moisture, pests, plumbing, and structural issues visible within the unit. The inspector does not have access to the strata scheme’s financial records, meeting minutes, or legal correspondence.
A strata report examines the financial, legal, and administrative health of the whole building. It tells you whether the owners corporation is solvent, whether major repairs are funded, whether there are active disputes, and what the by-laws say about pets, renovations, and short-stay letting.
You need both. A building inspection shows you what you are buying today. A strata report reveals what you will be paying for tomorrow.
Buying at auction? Order both reports before auction day
What the report contains
A strata inspection report typically pulls together the following records from the strata manager. The exact documents vary by state and by the age of the scheme, but these are the core sections you should expect:
Key sections of a strata report
| Section | What it shows | Why it matters |
|---|---|---|
| Financial statements | Admin fund and capital works fund balances, income, expenses, and budget | Reveals whether the scheme is solvent or underfunded |
| Levy schedule | Current quarterly levies per lot and any arrears owed by other owners | High arrears mean the scheme is collecting less than it budgeted |
| Capital works plan | 10-year forecast of major repairs and the funding schedule to pay for them | An outdated or missing plan is a strong predictor of future special levies |
| Meeting minutes | AGM and committee meeting records from the last 3–5 years | Shows disputes, deferred maintenance, owner engagement, and management quality |
| Insurance certificate | Building insurance policy, sum insured, excess, and expiry date | Underinsurance leaves every owner exposed if the building is damaged |
| By-laws | Rules covering pets, renovations, parking, noise, short-stay letting, and more | By-laws directly affect how you can use your property day-to-day |
| Correspondence and notices | Letters from council, insurers, contractors, and legal firms | May reveal pending compliance orders, defect claims, or tribunal proceedings |
Want to estimate the strata fees for a property?
Our calculator estimates quarterly strata levies based on property type, location, building age, and amenities — useful for benchmarking the levies quoted in a strata report.
Use the Strata Fee Calculator →Statutory certificates by state
In addition to the strata inspection report (which is voluntary), each state has a statutory certificate that the owners corporation is legally required to provide on request. This certificate is a formal, official document — typically more limited than a full inspection report but legally binding.
In NSW, this is the Section 184 certificate under the Strata Schemes Management Act 2015. It sets out the levies payable for a specific lot, any arrears, any special levies, and key financial details. Your conveyancer will usually order this alongside the full strata inspection report.
Strata information certificates by state
| State | Certificate | Legislation | Typical cost |
|---|---|---|---|
| NSW | Section 184 certificate | Strata Schemes Management Act 2015 | $100–$150 |
| VIC | Owners Corporation certificate | Owners Corporations Act 2006 (s 151) | $100–$250 |
| QLD | Body corporate information certificate (Form 13) | Body Corporate and Community Management Act 1997 | $100–$350 |
| WA | Section 110 certificate | Strata Titles Act 1985 | $80–$200 |
| SA | Section 39 certificate | Strata Titles Act 1988 | $80–$200 |
| ACT | Certificate of status | Unit Titles (Management) Act 2011 | $80–$200 |
Costs are indicative and may vary. Tasmania and NT have equivalent disclosure requirements under their respective community titles and unit titles legislation.
Red flags to watch for
Not every issue in a strata report is a dealbreaker, but some patterns should make you pause and investigate further — or obtain professional advice before committing. These are practical warning signs to examine in context:
Annotated example
How to connect the clues in a strata report
A single number rarely tells the full story. Read the financials, capital works plan, minutes and insurance schedule together.
Sample scheme snapshot
40 lots · FY 2026–27
- Capital works fund
- $48,000
- Levy arrears
- $22,000
- Meeting minutes
- Deferred × 3
- Building insurance
- Current
Roof works forecast at $180,000 within 18 months
12.9% of the scheme’s $170,000 annual budget
The same waterproofing item appears in three meetings
Policy schedule and valuation are included
What a buyer should investigate
1. Compare reserves with scheduled work
The balance is not meaningful alone. Here, the forecast roof cost exceeds available reserves by $132,000 before other projects.
2. Ask why owners are behind
Arrears can restrict cash flow. Check whether the debt is concentrated in one lot, growing, or already under recovery action.
3. Trace recurring agenda items
Repeated deferral can reveal a maintenance problem before it appears clearly in the financial statements.
4. Verify, then keep reading
A current policy is positive, but the sum insured, exclusions, excess and latest replacement valuation still need review.
Reserves do not cover the documented project pipeline
Compare the fund balance with the timing and cost of work in the capital works plan. A balance that looks large in isolation may still leave a substantial shortfall.
Repeated or unexplained special levies
Several unplanned levies can indicate weak forecasting, but investigate the cause. A deliberate levy for a one-off improvement is different from recurring emergency funding.
Capital works plan missing, stale, or inconsistent
Check when the plan was prepared, whether completed projects were removed, and whether its annual contributions match the budget owners actually approved.
Material or rising levy arrears
Review arrears as a share of the annual budget, their trend, and whether the debt is concentrated in one lot. Persistent arrears can restrict maintenance cash flow.
Active litigation or tribunal proceedings
Identify the parties, issue, legal-cost budget, insurance position, and likely timetable. A claim can be valuable to the scheme or a major unfunded exposure.
Repeated deferral of maintenance in minutes
Trace the same item across consecutive meetings. Repeated postponement without a funded plan can allow both the defect and eventual repair cost to grow.
Frequent manager or contractor changes without explanation
Turnover is not automatically negative, but the minutes should explain the reason, handover arrangements, disputed invoices, and any unfinished work.
Very low levies relative to comparable buildings
Ask what is excluded, deferred, or being subsidised from existing reserves. Low levies are only reassuring when the budget and long-term plan support them.
Low fees are not always a good sign
Reading the meeting minutes
Meeting minutes are the most overlooked part of the strata report and often the most revealing. The financial statements tell you how much money the scheme has; the minutes tell you how it is being managed and what it is like to live there.
Read the last three AGM minutes in full, not just the summary. Look for:
- Deferred maintenance: the same repair item appearing year after year and being voted down or postponed each time
- Pending special levies: a levy that has been approved at a general meeting but not yet invoiced — you will inherit this obligation on settlement
- Active disputes or tribunal matters: NCAT (NSW), VCAT (VIC), or QCAT (QLD) proceedings between the owners corporation and owners, tenants, or third parties
- Building defect claims: active litigation against the developer for cladding, waterproofing, or structural defects — these can run for years and cost six figures
- Failed quorums: repeated AGMs that could not achieve quorum indicate disengaged owners and stalled decision-making
- Recurring complaints: persistent noise, pet, parking, or short-stay letting issues tell you what daily life in the building is actually like
Minutes reveal management quality
By-laws to check before you buy
By-laws are the rules that govern daily life in a strata scheme. They are set by the owners corporation and can vary significantly between buildings. Before you buy, check whether the by-laws align with how you plan to use the property:
- Pets: since the 2021 amendments in NSW, blanket pet bans are no longer valid — an owners corporation can only refuse a pet if it causes “unreasonable interference.” However, by-laws may still require written approval and impose conditions. Check the process before assuming your dog is welcome
- Renovations: most schemes distinguish between “cosmetic” (no approval needed), “minor” (committee approval), and “major” (general meeting) works. In NSW, if the committee does not respond to a minor renovation request within three months, it is automatically approved
- Short-stay letting: if you plan to list the unit on Airbnb, check whether the by-laws restrict short-stay accommodation. Some schemes have adopted by-laws that limit or ban stays under 21 or 30 days
- Parking: confirm whether your lot includes an allocated car space and check by-laws about visitor parking, storage in car spaces, and EV charging
- Sustainability: recent NSW changes mean by-laws that ban solar panels, EV chargers, or other sustainability infrastructure based solely on appearance are now invalid (unless heritage-listed)
How to order a strata report
There are two documents you should order before buying a strata property:
- Strata inspection report ($250–$400): an independent, voluntary review of the scheme’s records by a professional strata inspector. Order from a strata search company or ask your conveyancer to arrange it. Turnaround is typically 3–10 business days.
- Statutory certificate ($80–$250): the formal certificate issued by the owners corporation (e.g. Section 184 in NSW). Your conveyancer will usually order this as part of standard pre-purchase searches. In NSW, the owners corporation must issue the certificate within 14 days.
If you are not confident reading the report yourself, a strata-specialist conveyancer can interpret the findings for you. This may cost an additional $300–$500 on top of standard conveyancing fees, but it is worth it for a complex or high-value purchase.
The combined cost of both reports — typically $350–$600 — is a fraction of what you stand to lose if you buy into a building with an underfunded sinking fund, active litigation, or a pending special levy.
Order early for auction properties
Frequently Asked Questions
Related Guides
What Do Strata Fees Cover?
A breakdown of what your strata levies pay for — admin fund, capital works fund, common area maintenance, insurance, and more.
How Are Strata Fees Calculated?
How strata managers calculate your quarterly levies — unit entitlements, budgets, special levies, and what drives costs up.
Average Strata Fees in Australia
Typical strata fees by state, property type, and building size — what's normal, what's high, and what to watch for.
Strata Fees in Sydney — What to Expect
Sydney-specific strata fee ranges by suburb, building type, and age. Benchmarks for apartments, townhouses, and new developments.