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How can I get the information I need?

Wednesday, 12th June 2013

Before you buy into a strata scheme you should get a Section 109 Certificate from the owners corporation. So what is a Section 109 Certificate? A Section 109 Certificate gives information about the strata scheme including the following:-

  • the names and addresses of the executive committee members, the managing agent and caretaker (if there is one)
  • the levies to be paid by the owners
  • any outstanding levies
  • the address where the records and financial statements can be viewed
  • any special by-laws made by the owners corporation in the past two years.

If a levy is outstanding before the Certificate is given and it is not shown on the Certificate, the purcahser is not responsible for the payment.  However, if any money becomes outstanding after the Certificate is given, the new owner and the old owner are both liable for payment.

If the information is not supplied within 14 days after you asked for it, the owners corporation could be fined up to $220.

How to get a Section 109 Certificate

If you are an owner, or you have an owner's or mortgagee's or covenant chargee's permission, you may write to the owners corporation and ask for a Section 109 Certificate.  The Treasurer must give the Certificate under owners corporation seal.  The Certificate must be in the set form.  There is a fee.

How to inspect the records of the owners corporation

It is important that you inspect the books and records of the owners corporation before buying.  Sometimes your solicitor will arrange to have this done for you, but not always.  There are companies which specialise in inspecting the books and can organise a 'strata search' service.

If you are an owner, or you have an owner's or a motgagee's or covenant chargee's permission, you may ask the Secretary of the owners corporation or the managing agent to let you inspect the books and records of the owners corporation.   The request must be in writing and accompanied by the required fee.

The owners corporation must let you look at all the records and should make arrangements with you to do this.

When you are looking at the records you may make copies (for example, a copy of the strata roll). Unless you have the owners corporation written permission you must not take any of the records away.  There is a set fee to look at the records.

An inspection will show the history of maintenance of the building and provide a valuable insight into any complaints lodged by other owners.  It may also show plans for future spending.

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Comment from Blanch on Monday, 20th June 2016

All the information regarding any kind of loan from any company so that the customers may need to know their duty to be done. Many companies are providing some reliable services for the developmet of the customers. There are tons of essay services students should have the ability to make a different between the right and wrong.

NSW Fair Trading

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