An owners corporation (formerly body corporate) manages the common property of a residential, commercial, retail, industrial or mixed-use property development. A body corporate became an owners corporation on 31 December 2007, when the Owners Corporations Act 2006 came into force.
An owners corporation is automatically created when a plan of subdivision containing common property is registered. Common property is whatever it is stated to be on the plan of subdivision and may include gardens, passages, walls, stairwells, pathways, driveways, lifts, foyers and fences. The owners corporation is responsible for the common property - the Owners Corporations Act 2006 states that the owners corporation must, among other things, manage, administer, repair and maintain the common property.
Changing your Owners Corporation Manager can seem like a daunting (and time consuming task).
Stratabase is experienced in smooth transitions in management and maintaining a seamless continuation of service.
Drop us a line and we can run through some of the things you need to consider and how we might be of benefit.
An Owners Corporation Manager (OCM) is appointed by the owners corporation to carry out its functions in managing and administering the common property. These include maintenance and repairs, collecting fees, maintaining insurance and keeping financial records. The Owners Corporation Manager has no decision making power or voting rights within an owners corporation.
Taking the hassle out of day-to-day administration of common property management is one of the main reasons for employing an OCM. Further, the peace of mind that your asset is being maintained and in many ways, protected, by an independent entity is also a huge benefit.
We are proud of our well-earned reputation for helping residential property owners with their investments. Our clients realise a number of advantages by partnering with Stratabase, including:
Whether you are a small 3 lot or larger 300 lot subdivision, or even a mixed use development, our staff are experienced in the requirements of your owners corporation.
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