A strata inspection report, also known as an Owners Corporation Records Inspection, or Strata Search, is a report that outlines almost all of the important details you need to know about a property before you consider purchasing it. This type of report only relates to property which is strata titled, company titled or community titled and can refer to both residential and commercial real estate.
This report will outline the history of the building, the levies that are currently paid by the owners and if works are currently underway on the property or planned for the near future. If there is any disharmony between neighbours, this will also often be outlined within the report. Other pieces of information will be included such as any legal matters, special levies and whether or not animals are permitted.
Knowing how your next home or investment is currently managed will ensure you make the right decision as to whether or not it is the right fit for you.