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 negotiate a lower purchase price. These are the warning signs that experienced conveyancers and buyers’ agents look for:
Capital works fund balance under $50,000
The next major repair will almost certainly trigger a special levy. A 20-year-old, 40-unit building should have $200,000+ in reserves.
Multiple special levies in the last 5 years
Indicates chronic underfunding. If the scheme has raised three special levies in five years, there will likely be more.
10-year capital works plan missing or outdated
Without a current plan, the committee is flying blind. Major expenses are inevitable — the only question is whether they are funded.
Levy arrears above 10% of annual budget
Significant arrears starve the scheme of cash, delaying maintenance and increasing risk for paying owners.
Active litigation or tribunal proceedings
Legal costs drain funds. Building defect claims against developers can run for years and cost six figures.
Repeated deferral of maintenance in minutes
If the same repair item appears in AGM minutes for three years running and is voted down each time, the building is deteriorating.
Frequent strata manager changes
High turnover suggests governance problems, owner dissatisfaction, or a committee that is difficult to work with.
Very low levies relative to comparable buildings
Artificially low levies look attractive but usually mean the capital works fund is being starved. You will pay later via special levies.
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.