A strata report, officially called an owners corporation certificate, provides prospective buyers with a detailed overview of the financial health and administrative management of the apartment building. It’s a crucial document when selling an apartment in Victoria, as of December 2025.
Currently in Melbourne, particularly within the Eastern Suburbs where Fletchers operates, buyers – and their conveyancers – carefully review strata reports. These reports detail the owners corporation’s finances, including levies, sinking fund balances (for future maintenance), and any outstanding debts. They also outline building insurance details, meeting minutes revealing planned works or disputes, and any existing by-laws. In 2026, we’re seeing buyers increasingly favour buildings with well-managed sinking funds, anticipating potential major works like facade upgrades or lift replacements. A well-maintained building, reflected in the strata report, can positively influence a property’s appeal and ultimately, its sale price. Preparing this report typically costs between $300 – $500, and sellers are legally required to provide it to potential buyers before a sale. Fletchers’ experience shows that transparency regarding the strata report builds trust with buyers and streamlines the sales process.
Essentially, a strata report offers a comprehensive snapshot of the building’s condition and financial stability, impacting buyer confidence and the overall property transaction.