A Strata Report will tell you,the prospective buyer if the property you think you are buying really is the really the one on the contract as even lawyers make mistakes.Strata reports reveal if the strata scheme for the building is being run as it should, namely if the quarterly fees are covering the day to day expenses need to keep the building in a good state of repair,if there are any special levies in place or being planned as shown on records presented,if there are troublesome neighbors, special bylaws as these change the original rules the strata scheme had in place and all reports list details of meetings that have taken place which will reflect how not just the building has been run but the attitude of the owners running it.For example owners who never want to spend money one their building to keep fees artificially low eventually run the building into trouble and a special levy then has to be raised to cover even bigger repairs than were originally needed.If a Strata report reveals these sort of people one the Owners Corporation if is best to look at another property.