01/06/2026
Buying a Strata Property.
If you are buying a property within a complex of three or more lots, you are not just purchasing the space inside your walls. You are also automatically buying into an existing owners corporation.
While checking the layout and location is important, the true financial health of a strata property is hidden inside the Section 32 contract.
Before committing, it is vital to review the administrative fund to ensure it easily covers day to day running costs like insurance and cleaning. More importantly, check the maintenance fund balance. A healthy capital reserve ensures that when the building inevitably needs structural repairs, the costs are already covered rather than triggering a sudden, expensive special levy invoice for every owner.
Beyond the financials, you also need to closely review the specific owners corporation rules. These bylaws govern everything from visitor parking and major renovation restrictions to pet ownership approvals.
Buying into a community title property can be a fantastic, low maintenance purchase, but it requires a thorough level of property analysis.
Reviewing strata contracts and identifying these hidden vulnerabilities is a core part of the comprehensive due diligence we conduct on behalf of our clients. We handle the paperwork, analyse the financial health of the building, and provide all the information you need to buy with absolute confidence.
If you are currently looking at the unit/apartment market and want an expert team to handle the due diligence for you, send us a DM or drop a comment below.