Thanks for the insight Derek, I'm planning to have a closer look (second inspection) at the property this weekend. the thing is we are looking for a place to move in and size+location wise they are just perfect, might need a bit of renovation (repainting etc) to suit our needs, just need to make sure that the strata issue won't cause a huge…[Read more]

thanks Richard for the advice, I checked and it seems to be the case with the negative admin fund, most of the negatives came from arrears of levy payment from tenants.

The strata had insurance cover and as far as I know generally it covers the first 7 years of the property? so does it mean, let's say if I bought the property and something…[Read more]

Thanks Jamie, that's helpful to know regarding the building issues. I just hope that it is not a major issue with the building, even if it does, it would be the responsibility of the builder?

yea true that the balance of the whole strata admin is quite worrying. Anyone else had experience with negative balance on their strata fund? I'm just…[Read more]