The hidden strata fees costing Australians | Four Corners

More than 2.5 million Australians now live in an apartment, over the next decade, that number is set to soar.

And while governments are sweeping away planning controls to boost the number of apartments in our capital cities, the multibillion-dollar strata industry – supposed to protect homeowners’ interests – is cashing in.

This week, investigative reporter Linton Besser exposes the graft, and greed of the industry, and reveals that most states have turned a blind eye to the problems.

After thousands of Australians wrote to the ABC with shocking stories of financial abuse, The Strata Trap uncovers the unethical practices that have drained untold sums of money from apartment owners’ pockets.

Besser and the Four Corners team investigate key industry players – from neighbourhood cowboys to multinational corporations.

This program raises tough questions about the dearth of government intervention and lack of meaningful consumer protection.

CHAPTERS

00:00 – Australia’s housing crisis
02:12 – The Strata Trap
02:43 – Phantom Fees
03:40 – Owners corporation
04:50 – Non-existent debts
08:30 – Australians speak out
09:37 – Rogue operators
10:40 – Broken down buildings
16:39 – Conflicts of interest
17:40 – Tideways
22:50 – Steadfast
24:03 – The corporate buy up
26:00 – Overpriced quotes
31:50 – Insurance policies
35:55 – Competition reform
41:30 – The spoils
42:05 – Billions in profits

This episode was originally broadcast as ‘The Strata Trap’ on 9 September 2024 on ABC TV and ABC iview.

Four Corners is Australia’s premier investigations documentary series.

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