COASTALSTRATA INSIGHTS IN TIME STRATA INSPECTION REPORT. 5/13-15 Keira Street, Wollongong NSW. Date of report Wednesday, 22 November 2017

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1 COASTALSTRATA STRATA INSPECTION REPORT 5/13-15 Keira Street, Wollongong NSW Date of report Wednesday, 22 November 2017 Prepared by Craig Baylis Contact (02) coastalstrata.com.au Following is your Strata Inspection Report. Our reports provide valuable knowledge, reassurance and insights into the strata scheme and potentially the power for you to negotiate the purchase price. If you have any questions please get in touch on or Yours sincerely,! Craig Baylis Managing Director Coastal Strata INSIGHTS IN TIME Page 1 of 10

2 COASTALSTRATA CONTENTS PROPERTY PROFILE REPORT SUMMARY BUILDING FINANCIAL INSURANCE PEOPLE CONTACT US 10 ATTACHMENTS coastalstrata.com.au info@coastalstrata.com.au (02) Page 2 of 10

3 COASTALSTRATA PROPERTY PROFILE CLIENT SUMMARY Instructions from Vendor Property address Kells Erin Anger 5/13-15 Keira Street, Wollongong NSW Strata plan number 9169 Lot number 5 Date the strata records were inspected Wednesday, 22 November 2017 STRATA MANAGING AGENT Name Body Corporate Services Address Website Level 5, Young Street, Wollongong NSW bcs_wollongong@bcssm.com.au Phone number coastalstrata.com.au info@coastalstrata.com.au (02) Page 3 of 10

4 COASTALSTRATA REPORT SUMMARY This brief summary is supplied to allow a quick and superficial overview of the top issues within the report. This summary is not the report and cannot be relied upon on its own. You should read the full inspection report for more information. BUILDING Work Health & Safety Report Asbestos Report A WH&S Report has not been obtained. It is suggested that the owners corporation obtain a WH&S Report to check for any slip, trip hazards and the like. Attached for your information is an extract from an Asbestos Report obtained in The report states that asbestos is likely in the eaves, vermiculite ceilings and phone pit however does not need to be removed at this stage. FINANCIAL Total levies per quarter $661 Special levies There are no current special levies. Administrative fund $8,081 Capital works fund $6,987 Capital works fund forecast Attached for your information is an extract from the Capital works fund plan. The plan suggests that in December 2017 the Capital Works Fund balance should be approximately $13,000 and the balance is currently $6,987. Stairwell painting and window locks have recently been installed which were not noted in the plan until 2018 and As these items were brought forward the current balance differs from the estimated balance. PEOPLE Pets by-law Special by-laws relating specifically to your lot There are no special by-laws that relate specifically to your lot. coastalstrata.com.au info@coastalstrata.com.au (02) Page 4 of 10

5 COASTALSTRATA BUILDING STRATA PLAN SUMMARY A strata scheme is a building or group of buildings divided into lots, which can either be individual units, car spaces, storage areas etc. When you buy a lot, you own the individual lot as well as share the ownership of common property with people who own the other lots. Number of units 12 Number of lots 12 Unit entitlement of your lot Aggregate unit entitlement Community Association or Stratum Development This strata plan is not a part of a larger development such as within a BMC Stratum Development or a Community Association. REPAIRS & MAINTENANCE Below is a snapshot of any major repairs and maintenance carried out within the last five years. If you require further information on the condition of the lot you are purchasing you may wish to obtain a Building Inspection Report from another provider. The owners corporation are responsible to repair and maintain the common property and each owner is responsible to repair and maintain items that are part of their lot Install window safety locks $1,386, repaint stairwell $5,805, clean roof gutters $ Install cladding to walls in stairwell to cover damaged cedar panelling $2,409 (funded by a special levy of $2,409) 2015 Replace balcony door to unit 4 $1,620, garden cleanup $1, No major repairs noted 2013 Garage door replacements $3,873 coastalstrata.com.au info@coastalstrata.com.au (02) Page 5 of 10

6 COASTALSTRATA REPORTS Owners corporations can obtain a variety of reports to assist in the management, maintenance and repair of the common property. Work Health & Safety Report Asbestos Report Termite Inspection Report A WH&S Report has not been obtained. It is suggested that the owners corporation obtain a WH&S Report to check for any slip, trip hazards and the like. Attached for your information is an extract from an Asbestos Report obtained in The report states that asbestos is likely in the eaves, vermiculite ceilings and phone pit however does not need to be removed at this stage. From the information sighted termite inspection reports are not currently being obtained. If you have concerns about termites to your lot you may wish to arrange an inspection from another provider. BUILDING DEFECTS Building defects No building defect issues were noted in the files inspected. OTHER BUILDING MATTERS Nil *See Inspection Report Attachments Pages 2 coastalstrata.com.au info@coastalstrata.com.au (02) Page 6 of 10

7 FINANCIAL COASTALSTRATA LEVY FOR YOUR LOT Administrative fund levy $449 Capital works fund levy $212 Total levy per quarter $661 Administrative fund and Capital works fund levy you will need to pay Special levy Special levy rate There are no current special levies. 9% % your lot contributes towards special levy amounts raised. Current levies paid to 31/12/2017 Levies due quarterly from 1/07/2017 OWNERS CORPORATION ASSETS Administrative fund $8,081 Used to pay for day-to-day recurrent expenses such as insurance, strata managers fees, common lawns and garden maintenance etc If the administrative fund is in deficit the budget may need to be increased at the next annual general meeting to repay the deficit and ensure sufficient funds are available when required. Capital works fund $6,987 Formerly called the Sinking fund. Used to pay for expenses such as painting, fencing, driveway repairs, carpets, roofing and guttering Levy arrears $13 Strata managers often engage a debt collection agency to pursue owners who are in arrears. coastalstrata.com.au info@coastalstrata.com.au (02) Page 7 of 10

8 COASTALSTRATA CAPITAL WORKS FUND PLAN Owners corporations must prepare a plan of anticipated major expenditure required in the next 10 years. The forecast suggests annual budget amounts aiming to have sufficient funds when repairs are needed. Capital works fund plan Attached for your information is an extract from the Capital works fund plan. The plan suggests that in December 2017 the Capital Works Fund balance should be approximately $13,000 and the balance is currently $6,987. Stairwell painting and window locks have recently been installed which were not noted in the plan until 2018 and As these items were brought forward the current balance differs from the estimated balance. OTHER FINANCIAL MATTERS Nil *See Inspection Report Attachments Pages 3-7 INSURANCE Owners corporations must insure the buildings or structures on its common property under a damage policy with an approved insurer. Individual lot owners should consider obtaining a separate insurance policy to insurer their contents, landlords insurance and any other insurances they deem appropriate for their individual needs. INSURANCE POLICY DETAILS Insurer Body Corporate Brokers Policy renewal date 1/03/2018 Premium $5,124 Policy number Building sum insured amount 26P621039UPK $4,850,000 Public liability $30,000,000 OTHER INSURANCE MATTERS Nil *See Inspection Report Attachments Pages 8 coastalstrata.com.au info@coastalstrata.com.au (02) Page 8 of 10

9 COASTALSTRATA PEOPLE BY-LAWS All strata plans are subject to by-laws which are simply a set of rules that promote community living and create guidelines for the use and control of the common property. By-laws can be used to enable the management and control of the common property, to control the use and enjoyment of the lots and the common property or to grant the exclusive use of common property. By-laws applicable to this strata scheme Special by-laws relating specifically to your lot Pets by-law A copy of the by-laws that apply to this strata scheme are attached for your information. There are no special by-laws that relate specifically to your lot. Residents must obtain written permission from the owners corporation in order to keep a pet. Visit coastalstrata.com.au/our-services/ to download a download pet application form By-laws you may require Do you need to obtain permission from your owners corporation to make common living alterations such as renovating a bathroom, installing a pergola, solar hot water system, skylight etc? My Bylaw makes it quick and easy for strata owners to seek a decision from their strata scheme with a suite of professional by-law templates. For more information visit mybylaw.com.au MEETINGS Owners corporations are required to have at least one meeting per year, the annual general meeting, where amongst other items the budget and levies are set for the coming year. Owners can attend meetings through social media, video and teleconference such as Skype if the strata manager has these facilities in place. Date the first meeting was held Date the last meeting was held Not sighted. Minutes were only sighted from the 5/02/ /05/2017 coastalstrata.com.au info@coastalstrata.com.au (02) Page 9 of 10

10 COASTALSTRATA OWNER OCCUPIERS If an owners corporation has tenants for at least half of the number of lots in the scheme a tenants representative may been appointed. The tenant representative is not entitled to vote on decisions of the committee and may be excluded from the meeting to discuss items such as financial matters. Number of owner occupied units as per the strata roll Tenant representative Nil A tenants representative has not been appointed or is not applicable to this strata scheme. OTHER PEOPLE MATTERS Nil *See Inspection Report Attachments Pages 9-19 CONTACT US If you would like to clarify or discuss any content in this report please contact Coastal Strata on Yours faithfully,! Craig Baylis Managing Director Coastal Strata Legal Disclaimer This inspection report has been prepared by reviewing documents supplied by the owners corporation or by their strata managing agent. No responsibility will be accepted for errors or omissions should the report be found to be incorrect, as it is possible that some of the records were not made available for inspection. The information provided relates to strata schemes within New South Wales only. As legislation can differ between Australian States and Territories this information is not to be construed to apply to any other state or territory. Coastal Strata accepts no liability to a third party in the event that this report is provided to a third party other than the client named in this report. Should a third party become in possession of this report an updated Inspection Report should be obtained. Prohibition On the Provision or Sale of the Report This report may not be sold or provided to any other person without our express written permission, unless the client is authorised to do so by legislation. If we give our permission it may be subject to conditions such as payment of a further fee by the other person and agreement from the other person to comply with this clause. coastalstrata.com.au info@coastalstrata.com.au (02) Page 10 of 10

11 ADDITIONAL RESOURCES STRATA TIPS VIDEOS IN YOUR INBOX For our free strata tips, videos, articles and news head to coastalstrata.com.au/free-tools-tips/ Join our newsletter and always be up to date. BY-LAWS YOU MAY REQUIRE Do you need to obtain permission from your owners corporation to make common living alterations such as renovating a bathroom or installing a pergola, solar hot water system, skylight etc? MY BYLAW makes it quick and easy for strata owners to seek a decision from their owners corporation by presenting a suite of professionally prepared and immediately available by-laws. For more information visit mybylaw.com.au PROPERTY PARTNERS Moving into your strata unit? Here s some property services you may need coastalstrata.com.au/partners/ PET APPLICATIONS Do you need permission from the owners corporation to keep a pet within your unit? We get it. Pets mean everything and your purchase may be conditional on whether you can keep a pet or not. So to save you stress (there s enough already when buying a unit) leave it to us. We ll liaise with the strata manager on your behalf and seek the owners corporation s decision as quickly as possible. For more information download the Pet Application Form at coastalstrata.com.au/free-tools-tips/ FEEDBACK Do you have 30 seconds? We have 2 quick questions to ask for your feedback. Please complete the anonymous survey at surveymonkey.com/r/nhf99yv Thanks for your business. The Coastal Strata Team

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1/2 Sample Street Sydney NSW 2000

E Y E O N S T R A T A R E P O R T 1/2 Sample Street Sydney NSW 2000 LOT 11 SP 11111 DATE OF ASSESSMENT: 11 AUGUST 2017 EYEON Group Pty Ltd P 1300 798 274 www.eyeon.com.au ABN 76 133 214 230 B U Y A N D