Strata living in New South Wales offers the benefits of convenience, shared facilities, and community living — but it also brings specific responsibilities. Whether you’re considering purchasing your first strata home or selling an existing one, it’s important to be across how the process differs from that of standalone properties. Here’s a simple breakdown of what to keep in mind when buying or selling in a NSW strata scheme.

Buying in a Strata Scheme

When you buy into a strata scheme, you’re purchasing more than just a property — you’re entering a shared community with defined legal and financial obligations. Before you sign on the dotted line, make sure you’ve checked:

1. Review the Strata Records

Request a full inspection of the strata records. This will reveal:

• The financial position of the owners corporation
• Any history or risks of building defects
• Insurance coverage details
• Minutes from recent meetings
• Upcoming special levies or fee increases

This information helps you assess the building’s management and any looming expenses.

2. Understand the By-Laws

Each strata scheme has by-laws that outline what owners and residents can and can’t do. These might include rules about pets, alterations, noise, parking, or how communal spaces are used. Make sure these align with your lifestyle, and be prepared to seek approval where required.

3. Check the Fees

Strata living involves regular levies for shared expenses like maintenance and insurance. Review both the standard contributions and any history of special levies. If there are flagged works, you may face additional charges after moving in.

4. Clarify What’s Common Property

It’s crucial to know the difference between what you own and what falls under common property. This can affect who’s responsible for repairs and how you go about renovations or upgrades.

Selling a Strata Property

Selling in a strata scheme includes extra requirements compared to standalone homes:

1. Supply a Strata Information Certificate (Section 184)

You’ll need to provide a certificate that outlines:

• Current levies and any arrears
• Insurance arrangements for the scheme
• Any approved or proposed special levies
• The financial health of the owners corporation

Your strata manager can assist in obtaining this document.

2. Disclose Relevant By-Laws

Buyers want clarity on what by-laws apply. Be upfront about regulations regarding pets, renovations, or short-term rentals to avoid complications at settlement.

3. Explain Any Future Works or Levies

Major works or special levies can impact buyer decisions. You should clearly communicate who will cover these costs and ensure it’s properly documented in the sale contract.

4. Choose an Experienced Agent

Not all real estate agents are familiar with strata sales. A knowledgeable agent can make a significant difference in managing documentation and presenting the property effectively.

Strata Transactions Require Attention to Detail

Buying or selling within a strata scheme is not more difficult — just different. Understanding the by-laws, reviewing records, and being transparent about financial matters helps avoid future disputes.

If you’re unsure, consult with a solicitor, conveyancer, or strata manager to guide you through the process confidently.

Need help managing your strata property?

SSKB supports NSW strata communities through every step of the ownership journey. Get in touch today for tailored advice.