If you own a flat, unit, townhouse, or apartment in Victoria, chances are you're a member of an Owners Corporation, formerly known as a Body Corporate. An Owners Corporation manages the common property of a residential, commercial, retail, industrial or mixed-use development, as outlined on the plan of subdivision.

What Is Common Property?

Common property can include though is not limited to:

• Gardens and landscaping

• Pathways and driveways

• Stairwells and lifts

• Walls and fences

• Passages and foyers

This shared property is legally defined on the plan of subdivision and maintained collectively by the Owners Corporation.

Owners Corporation Responsibilities

Under the Owners Corporations Act 2006, every Owners Corporation must:

• Manage and administer common property

• Maintain and repair common property, fixtures and services

• Take out and maintain required insurance policies

• Collect fees from lot owners to cover shared expenses

• Prepare financial statements and keep detailed financial records

• Issue Owners Corporation Certificates upon request

• Maintain an Owners Corporation Register

• Establish a grievance resolution procedure

Once a plan of subdivision with common property is registered with Land Use Victoria, an Owners Corporation is automatically created. If your property is part of that plan, you automatically become a member and assume legal and financial responsibilities.

2025 Update: New Fee Notice Requirements for Owners Corporations

As of 28 April 2025, changes have been introduced to the way Owners Corporation Managers must issue fee notices, in line with broader reforms that began in 2021. These changes aim to better support Victorian property owners and residents, across residential, commercial, retail or mixed-use.

What are the Key Changes?

Mandatory use of new fee notice formats
Older formats are no longer valid.

Clear information on payment options
Dispute resolution services, and financial counselling must now be included.

Dedicated phone line
Has been introduced to assist with Owners Corporation enquiries.

Owners Corporation Managers are encouraged to refer owners and residents to Consumer Affairs Victoria for guidance on:

• Payment plans
• Late payments
• Owners Corporation certificates
• Accessing records
• Understanding rights and responsibilities

These reforms are in place to ensure transparency and accessible communication between Owners Corporations and their members, especially during times of financial stress.

Do You Need Help With Your Owners Corporation?

For experienced and professional guidance, contact the team at First National Real Estate Neilson Partners. With offices in Narre Warren, Berwick, and Pakenham, we’re here to support you while navigating your property management responsibilities.

For further information, visit the Consumer Affairs Victoria website:
Fees – Owners Corporations – Consumer Affairs Victoria