The Owners Corporation

 

Owners Corporation means a body corporate, which is incorporated by registration of a plan of subdivision. All lots within your Plan of Subdivision make up your Owners Corporation...

 

Common property

 

Common property means land shown as Common property on a plan of subdivision. This is all the area within the Plan of Subdivision, which is not contained within the boundary of a private lot. The Owners Corporation is responsible for the administration and repairs and maintenance of the Common property.

 

Private property

 

Your Lot/Unit and your car park lot/s, as shown by the boundary on the plan of subdivision are your responsibility to maintain.

 

Owners Corporation Fees

 

Levy Fee notices are issued to all Lot owners annually and are due and payable on the first day of the corresponding month. Non-payment of Levy fees by the due date will result in penalty interest being applied to the owners account.

 

Annual General Meeting

 

Annual General Meetings will be held approximately 2 months after the end of the financial year of the property.

 

Insurance

 

The building, common property, fixtures and fittings are insured under the Strata Insurance Policy. Owners must arrange their own contents and landlords insurance if the property is tenanted. All Insurance claims are subject to acceptance by the Insurer. All claims are subject to excess. GST is non-refundable on Insurance claims

 

Owners Corporation Rules

 

All Owners, Residents and Visitors to the property are bound by the Owners Corporation rules; we ask that Owners to ensure that Tenants are provided with a copy of the rules once they take up residency at the property.

 

Further Information

 

Further general information regarding living in an Owners Corporation can be found on Consumer Affairs Victoria’s website www.consumer.vic.gov.au