Strata Solutions

Strata Management

An owners corporation (formerly body corporate) manages the common property of a residential, commercial, retail, industrial or mixed-use property development.

Purchasers should understand the obligations and responsibilities involved when purchasing into an Owners Corporation

An Owners Corporation Manager is anyone appointed by an Owners Corporation to carry out its functions in managing and administering the common property

An owners corporation must issue an owners corporation certificate to any person within 10 business days of receiving a written request and the relevant fee payment.

The lot entitlements and lot liabilities of lot owners are set out in the plan of subdivision.

Being the initial owner, the developer must act honestly, in good faith and with due care and diligence in the interests of the owners corporation. 

Insurance is important to protect your owners corporation and the personal assets of all lot owners. The law sets out the minimum insurance required but the owners corporation may also want to consider extra cover.

How to Change Strata Managers in Victoria

  1. Obtain a copy of your current contract and income and expenditure statement to understand the current terms and fees you are paying.
     

  2. Ask your new preferred owners corporation manager for a quote listing all their fees and hidden charges if any. Be wary of any finders fee being paid to a third party as the new manager may try to reclaim that fee through you.
     

  3. Call either a Committee meeting or a Special General Meeting with a motion to remove the old manager and appoint the new one.
     

  4. Send a copy of the minutes of the successful meeting to your old manager as well as your new manager.

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