Strata Report Perth

[PerthNoob]

I have come across information regarding pre-purchase strata audits/checks/reports but they all pertain to the eastern states.

Are there any companies in Perth that offer a service whereby they look over the Strata company's finances, meeting minutes, bylaws etc. and advise accordingly.

For example this company provides a 'pre-purchase audit'. Is there a Perth equivalent?

Thanks!

 

[Joel]

I tried looking before and didn't find any companies which do this in Perth. However, the agents here usually provide the minutes of the latest AGM. Not very comprehensive but it is something. Make sure they show you the minutes and not just the agenda.

 

[sammmeee]

Yes if you can find a company that does it then DO it.
Our units have concrete cancer so we will be paying 50k between 12 owners ALSO after July 1 the council is putting power underground costing 5k per unit.

Sooo when I saw a unit in our block up for sale I thought no one would buy it with these upcoming ( not current ) expenses. Someone did and at record price. I wonder what their due diligence was? The underground power would only have been found by contacting the council and on the minutes it was very brief about getting quotes for the concrete issues.

I think July 1 will bring some shocks to the new owner.
Soooo get the strata report if you can!!

 

[PerthNoob]

How does everyone go about doing their due diligence on strata properties in WA? What information is contained within a strata report in the eastern states and how would one find the equivalent information here in Perth?

 

[Joe D]

How does everyone go about doing their due diligence on strata properties in WA? What information is contained within a strata report in the eastern states and how would one find the equivalent information here in Perth?

Not sure about specific Companies to obtain research, however, for a strata property the Vendor should have copies of the last AGM or EGM plus strata levies bill.

As part of the O&A in WA, the REA is obliged to disclose (Form 28) details of the Strata arrangement and Strata Manager.

I suggest you contact the Strata Manager directly for 1st hand verification of strata financial status.

 

[Kent Cliffe]

The strata process here in the West is fairly lax with most agents crossing out 99% of the Form 28.

A good Buyers Agent would do due diligence into the strata.

The way we do it is a privacy release annexure as part of the O&A. With the release we go to the strata manager direct and request a range of document including but not limited to budgets, AGM minutes, insurance, current statements, amendments and a lengthy set of questions.

The strata manager will charge you for this service, but the money is well spent. I have seen everything from:
- Huge extraordinary levies.
- Insufficient insurance
- Quirky by-laws