From hidden costs to fees for no service. Apartment owners are being ripped off and many don't even know it. Support for a federal inquiry into the strata industry is growing. After four corners exposed the dark side of apartment living.
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00:00For years, Karen Stiles has been hearing horror stories about strata living.
00:07I've had people sobbing on the phone. People have lost their homes, they've lost their
00:13marriages. It's a terrible, terrible situation.
00:17On behalf of apartment owners, she and a host of top consumer groups are calling on the
00:22federal government to intervene.
00:24A federal inquiry will expose the underbelly of this industry.
00:29Strata legislation is governed by the states, but some politicians agree national scrutiny
00:35might be the way to go.
00:37The NSW government would be keen to work with the Commonwealth on some kind of national
00:41inquiry or investigation.
00:42Queensland too says it will support a federal inquiry, and industry groups recommend one
00:48as a way to restore trust.
00:50The majority of strata managers out there in the community doing a wonderful job would
00:56be cringing at what they saw last night, and recognising that their reputation has
01:03been tarnished.
01:04A Four Corners investigation has exposed how the strata industry is rorting apartment owners.
01:11Many are unaware that hidden fees, secret commissions and kickbacks are being pocketed
01:15at their expense, and those that find out can do little to recoup the money.
01:21Building more apartments is critical to addressing the housing crisis.
01:25Almost as important will be convincing buyers that they'll be protected from unscrupulous
01:30strata companies.
01:32The federal government says it's open to dialogue about what the Commonwealth could do.