It is highly important and recommended when purchasing a unit, townhouse, or villa to have a professional inspection carried out of the strata records for the complex as you are buying that one piece of the complex and an interest in the common property.
What does a Strata Inspection Include?
- History of the building
- Pending building works
- Special levies payable
- Recent repairs undertaken
- Any known building defects
- Monies in the bank to cover repairs and maintenance
- SSM Act compliance issues, these include general information on insurances, by laws, any disputes or areas under investigation and harmony
Why is a Strata Inspection Important?
When purchasing strata managed property, it is vital to have a strata inspection conducted to be informed on the property’s history and if there were any previous issues with the property. It is also important to ensure the property has money in the strata budget as there have been cases where a property was purchased and issues arose. However, there was no money left in the strata budget to pay for any of the repairs!
Effective Building & Consultancy recommends that both a building inspection and pest inspection be carried out with a Strata inspection. Many defects may exist within the building that may not be known by the strata manager or body corporate. Please note that the strata inspector will not physically go to the building he is reporting on.