Strata Stress

There's a good article in the Sun Herald's Investor magazine today about the research you need to do before buying a strata property. The danger is that long-term owners tend not to put money into the sinking fund to cope with major problems, preferring to have a whipround amongst the owners when the problem comes up. So if you buy into the strata just before the problem needs fixing, you pay over your fair share of the costs. The article explains how you can do a strata search through the relevant state authority and obtain a building report before purchase. These will show you the funds in the accounts, any active disputes, etc.