In Victoria the most common form of communal title is an owners corporation, formerly called a body corporate.
Other forms of community titles include:
Company share schemeStratum...
In addition to paying fees and charges, and observing the rules members have an number of other obligations including the following
A member is required:
to maintain...
As with any community an owners corporation requires rules to balance the obligations and rights of owners and occupiers of lots.
There are prescribed Model Rules...
A committee:
is appointed at the annual general meetingis required to be elected if the owners corporation affects more than 13 lots;may be elected if there...
Good budgeting is essential to the smooth running of an owners corporation.
Why have a budget?
An owners corporation has a number of obligations including:
maintaining common property...
