Strata living comes with shared costs, and understanding them upfront saves surprises later.

  • Administrative fund - day-to-day running costs like insurance, cleaning and minor repairs.
  • Capital works fund - long-term maintenance such as roofing, painting and lifts.
  • Special levies - one-off charges raised when the funds fall short of a big expense.

A healthy capital works fund is a good sign. A history of special levies can be a red flag worth asking about.