Name: Strata owners warned over $1bn repair backlog
Uploaded: 2025-12-13T21:45:04.484Z
Duration: 2 min 55 s
Description: Australian strata communities are facing an estimated $1 billion maintenance backlog, with ageing buildings and stricter compliance rules putting owners under growing pressure. Lannock Strata Finance says new enforcement powers mean owners corporations must act quickly to avoid spiralling costs and legal consequences.

Australian strata communities are facing an estimated $1 billion maintenance backlog, with ageing buildings and stricter compliance rules putting owners under growing pressure. Lannock Strata Finance says new enforcement powers mean owners corporations must act quickly to avoid spiralling costs and legal consequences.

Council of the City of Sydney

Strata property owners and investors across Australia are confronting an estimated $1 billion in unpaid maintenance, including issues such as leaking roofs, unsafe balconies, and fire safety concerns. New regulations have strengthened the authority of regulators to compel strata corporations to address these problems, increasing the urgency for owners to act before repair costs rise further.

Experts advise owners to inspect their buildings regularly and address maintenance issues promptly, as legal obligations have become stricter. Prospective buyers are encouraged to conduct thorough due diligence, including obtaining strata reports, and to consider financing options carefully, prioritizing trustworthy financial service providers.

Strata owners warned over $1bn repair backlog

Aging buildings, major repairs and rising compliance standards, owners and investors in strata blocks and communities are under pressure like never before. We have heard some absolute horror stories. According to Lanark Strata Finance, there's an estimated $1 billion in unpaid maintenance works facing strata corporations across the country. That bill includes leaking roofs, pipes and windows, concrete cancer, structurally unsafe balconies and major fire safety and compliance issues. When you buy in strata, you are a member of this corporation legally and this property has to be looked after. Now as tough new laws come into effect, giving regulators more authority to force strata corporations to act on known maintenance issues, there are calls for owners and investors to act before costs spiral even further. Delaying is really scary when it comes to works in strata. Pay attention to small problems so they catch them before they turn into large problems. David Glover is Managing Director of the Owners Corporation Network of Australia. Have a good hard look at your building and see anything that is wearing out, anything that is leaking, you have to fix it. That's really what the legal obligation is. Fair trading has much more power now to take action against an owners corporation that is not pulling its weight. Owners that are owning property that hasn't been properly funded or maintained are going to have some bills that they're going to have to pay. With more than 4 million Australians living in strata communities, experts like Professor Hazel Easthope say the current maintenance backlog is an opportunity for owners to bolster the value of their property investment. If owners are looking at spending a large amount of money on a repairs cost, they have an opportunity to talk about well maybe we should spend a little bit more and get some capital gains and some improved liveability. So what can you do if you own or are looking to buy into a strata block? I think it's essential that you do your due diligence and part of that would be a strata report. Strata's complicated, it's very complicated. And when it comes to funding essential works, Paul Morton from Lanark Strata Finance says always do your research. When it comes to a strata loan, after tax, it's likely to be by far the cheapest possible cost of funds. For anyone in the market looking for a loan on a strata property, what's your advice? It's like any relationship, longevity, communication and trust. If you're not getting those three things from your financial services provider, particularly in strata, then you are setting yourself up for a lot of problems.

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