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Home › Glossary › Strata
Strata ownership is common in apartments, townhouses and unit complexes across Australia. When you buy a strata property, you own the interior of your lot but share responsibility for common property such as driveways, gardens, lifts, hallways and building exteriors. Owners must contribute to the upkeep of the building by paying regular strata levies that cover maintenance, insurance, repairs, administration and contributions to the sinking fund for future major works. Strata living also involves a set of by-laws that govern behaviour, renovations, pets and the use of shared spaces. Buyers often review strata records and financial statements to assess risk, upcoming repairs or special levies. A well-managed strata scheme can increase property value and buyer confidence, while a poorly managed one can deter buyers and reduce demand. A skilled agent knows how to interpret strata documents, explain them clearly and position your property positively to prospective buyers.
You decide to sell your two-bedroom apartment in a strata-managed building. Your agent reviews the latest AGM minutes, financial statements and sinking fund forecast to ensure transparency for buyers. They identify that the building recently completed major roof repairs, meaning no large special levies are expected soon. At inspections, buyers ask questions about strata fees, pet rules, parking arrangements and the financial health of the owners corporation. Your agent answers confidently, providing documentation that reassures buyers the building is well maintained and financially stable. This credibility boosts buyer confidence and helps generate multiple strong offers. The apartment ultimately sells above similar listings because the strata information was clear and professionally communicated.
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