Strata inspection report
Before entering into a Contract to purchase a strata property, or during the cooling-off period, Shire Legal recommends that you obtain a strata inspection report from a reputable inspection company. The strata inspection report will include:
- the financial status of the scheme
- pending building works
- special levies
- past works history
- all expenses for the past two years
- 10-year budget analysis
- general information on:
- any disputes
- any other areas under investigation
For more information about strata schemes, visit the NSW Dept of Fair Trading’s website.
When a strata scheme is first registered with the NSW Land Registry Services (formerly the Land Titles Office or Land & Property Information Service), a model set of by-laws is selected to apply to the strata scheme. The owners corporation can subsequently change or cancel any of the strata scheme’s by-laws by passing a special resolution.
Shire Legal can assist the owners corporation and/or the strata manager by drafting by-laws allowing, for example, the installation of air-conditioners, construction of pergolas, the keeping of animals, exclusive use of common areas etc. Shire Legal can also assist with the consolidation of strata by-laws, following the passing of new legislation requiring owners corporations to consider whether the scheme’s by-laws need to be consolidated.
Untangling strata laws.