The Owners Corporation, or Body Corporate, holds an essential role in community and strata management. This infographic helps define the group and outlines key roles.
When you purchase a lot in a building, you automatically join the Owners Corporation, together with other fellow owners. This membership enables you to take part in the decision-making process and influence how the community functions. In many cases, a Strata Committee will form at the Annual General Meeting, who then represent all owners. You may nominate yourself or vote for other candidates for this role. The Committee manages all building finances, record keeping, maintenance of common areas and ensures changes to legislation are upheld. At times, the Committee may employ a specialist to take care of some (or all) of these responsibilities on their behalf. The role of managing an Owners Corporation can be burdensome and large, so this helps relieve some pressure and keeps the building and community functioning.