What a strata report tells you, and what it misses
A strata report (section 184 search) is essential before you buy an apartment, but it has blind spots. Here's what it covers, what it leaves out, and how to fill the gaps.
What it covers
A strata report, also called a section 184 search, is an inspection of the owners corporation's records. It reports the fund balances, the levies, recent meeting minutes, insurance, the managing agent, and any major works or disputes recorded in the books.
It is the single most useful document a buyer can get, and you should always obtain one before you exchange contracts.
Where it has blind spots
A strata report shows what is in the scheme's own records at the moment it is searched. It does not cross-reference court and tribunal decisions the scheme is party to, it does not show whether the builder behind your block has a pattern across other buildings, and a brand-new or poorly-kept set of books can look clean while a problem is brewing.
It also costs money and takes time, so most buyers only order one once they are seriously interested, after they have already shortlisted.
How to fill the gaps
The public record complements the strata report. Court and tribunal decisions, Building Commission orders, and the cross-scheme track record of the builder are all public, and they sit outside the scheme's own books.
Use StrataAuditor first to screen a shortlist for free and decide which buildings are worth a paid strata report, then use the strata report to confirm the financials. If you already have a report, paste it into our report check and we will read it against the public record we hold.
Check a building's public record now, free.
A starting point for due diligence, not legal or financial advice. Obtain a strata search (section 184) and professional advice before you transact.