BE STRATA AWARE
Prior to purchasing a strata title investment property, we strongly recommend landlords have a strata #inspection# undertaken for the property.The strata #inspection# is similar to the pest and building #inspection# that is undertaken when a person buys a home.
The strata #inspection# report details the financial health of the strata plan; including the likelihood of the imposition of any additional levies due to required building works or other commitments that the strata plan may have. The report confirms whether there are any levy contribution arrears upon the lot which may be transferred to you should you not be aware of this at the time. The report also details the resolution of past meetings of the strata plan and future budgetary requirements of the building, which may affect the returns that your investment property may have and any restrictions upon possible re-sale of the property.
As with a pest and building report, the strata #inspection# report is vital to ensure that you are purchasing a unit within a trouble free strata plan that may cost you more in the future.