1 of 7
Do you know your strata plan number?
It starts with SP and is on your rates notice or insurance certificate. You need it for insurance, records and any sale.
2 of 7
Is your building insurance in the name of the owners corporation?
The policy should say “The Owners – Strata Plan No. …”, not just your names.
3 of 7
Is the sum insured based on a professional valuation from the last 5 years?
The law requires cover for the full cost to rebuild. A recent valuation is how you show the figure is right.
4 of 7
Do you have a copy of the registered strata plan and your by-laws?
These set out who owns what and the rules for the property.
5 of 7
Is there an up-to-date strata roll with both owners' details?
The strata roll is the legal list of owners and their addresses for notices.
6 of 7
Have you both agreed, in writing, how shared costs are split?
Insurance and repairs to shared parts are split between the two lots. Writing it down avoids arguments later.
7 of 7
If one of you sold tomorrow, could you produce the records for a Section 184 certificate?
The buyer's solicitor will ask for one. Missing records hold up the sale.
Your result
General information only, not legal advice. Start again
Where the law is at (15-09-2026)
- 1 October 2026: two-lot schemes stop lodging the annual Strata Hub report (NSW Fair Trading, "Changes to strata laws").
- Small strata scheme rules (no meetings, decisions by written resolution of both owners, new s 7A): in a Bill that has passed the Legislative Assembly and is before the Legislative Council. They start on a date to be proclaimed. Until then, where the law still requires a meeting, we give you a simple template pack so you can hold it yourselves in a few minutes.
- Unchanged: the duty to insure the building for full replacement value in the owners corporation's name, to keep common property in repair, to keep a strata roll and records, and to provide a Section 184 certificate when a lot is sold.