In Australia, building inspections are typically supported by reports; a form of documentation that can act to provide information to a seller, a buyer or even an authority if the need arises. There are several varying types of report; some of which are obligatory but the majority are simply available to those that would like to pursue them if they require. Strata building reports fall in between these two categories; first being necessary but secondly being preferable when buying a new property for peace of mind.
As with regular building reports that will act to evaluate the condition of a property, a strata inspection report (often referred to as a section 108 report or an Owners Corporation Records Inspection) has its own set of functions and features. For instance, the term strata refers to the grouping or levelling of an entity such as a home or people. In this case is relates to data that is provided in conjunction with the ownership of a house before a sale, all of which will be compiled for simplicity.
In most cases a strata report will be generated in an effort to provide further information to a buyer, or to the relevant authority in charge of filing applications and information. There is such thing as the Strata Schemes Management Act (SSMA) and its legislation defines the parameters in which the strata report must comply.
Where a building report will typically provide information on the condition of a home, including its features and functions – a strata building report will do the same and then some. It should provide information on the current owner, any quarterly levies due for the property, the rights of a voter in the district, any entitlement to units for storage, information on the authority that fees are paid to and other factors that are important to know when changing ownership details after a sale.
It also covers more extensive information such as sinking funds for administrative purposes, whether animals are permitted on the premises and even if there has or currently is disharmony between neighbours and local residents. As a result, this type of report is often used by a potential buyer to actually get to grips with what it would be like to live at the property.
The reports can be used for detached homes but due to the extensiveness of the evaluations and data provided – they are commonly used within complexes that include flats, apartments and maisonettes. The inspector that has been hired to undertake the evaluation will be responsible for adhering to the SSMA and once their findings have been completed, they will typically compile their report and issue it to their client directly, as opposed to making it public knowledge.