A long strata report is not evidence of a bad building. A short one is not evidence of a good building.

The task is to find the decisions hidden in the records.

Build a timeline

Read recent meeting minutes in date order. Track repeated references to water, cracking, lifts, façade, roof, basement, fire systems and insurance.

A single repair may be routine. The same issue returning across several meetings needs explanation.

Compare known work with available funding

Review the capital works plan, administrative and capital works fund balances, current levies and any special levies.

Ask whether the plan reflects the building's actual condition and whether discussed projects are funded.

Low levies can be attractive. They can also defer cost to the next owner.

Read the insurance and claims history

Check the policy, excesses, exclusions and recent claims. Repeated water or liability claims may reveal a physical issue not obvious inside the lot.

Obtain professional advice where insurance terms or building defects are material.

Understand disputes and by-laws

Look for tribunal matters, owner disputes, unpaid levies and recurring by-law enforcement.

Read by-laws against the brief. Pets, flooring, renovation, parking, short-term letting and use of common areas can affect the way the apartment can be occupied or changed.

Confirm the lot and rights

Check title and strata plan for parking, storage, courtyards and balconies. Establish whether an area is part of the lot, common property or subject to exclusive-use rights.

The inspection presentation is not the legal record.

Turn findings into questions

A useful review produces:

  • issues understood and accepted
  • costs that can be estimated
  • questions for the strata manager, lawyer or inspector
  • risks that change the value range
  • a reason to walk away, if the uncertainty cannot be resolved

The North Shore apartment due-diligence guide connects the report with the building, apartment and future supply.

Official starting point: NSW Government strata information.

This is general information, not legal, building or financial advice.