Victoria Owners Corporations

Victoria is Australia's 'garden state' offering a wide variety of climates and a diversity of culture. Melbourne has been regularly voted one of the most liveable cities in the world. Victoria has well over 100,000 strata schemes on title representing more than 900,000 lots. With constant high demand for housing and inner-city living, Melbourne is forecasted to continue strong growth in the strata property sector.

According to the ‘Australasian Strata Insights Report 2020’ conducted by the UNSW, about 8% of Victoria’s population live in apartments. 58% of apartment residents in Victoria were born outside of Australia, which is greater than the national statistic of 57%.

Ace Body Corporate Management VIC

Owners Corporation Managers in Victoria manage the common property of the owners corporation, as detailed in the Plan of Subdivision, with the help of an owners corporation committee.

When buying and selling property, the vendor disclosure document for the Owners Corporation is the Owners Corporation Certificate, which is located in the Vendor's Statement (Section 32).

The principal legislation affecting owners corporations in Victoria are the Owners Corporations Act 2006, the Subdivision Act 1988 and the Owners Corporations Regulations 2018.

The Victorian dispute resolution body is the Victorian Civil and Administrative Tribunal (VCAT).

ACE Body Corporate Management has been a member of the state institute, Strata Community Association (Vic), since 1998. Membership with SCA (Vic) is compulsory for all ACE Victorian managers and many ACE managers have the title, SCA Certified Practising Strata Community Manager (CSCM) or SCA Fellow Strata Community Manager (FSCM).

ACE Body Corporate Management is the largest Victorian Strata Management company and manages more than 4000 owners corporations, totalling over 45,000 lots in Victoria.

How does a body corporate work?

A body corporate is an association of people who are responsible for managing a strata property. A Victoria body corporate may be established by a group of owners, either when they purchase the property, or it may be created by legislation to manage publicly owned land.

A Victoria Body Corporate is regulated by the Owners Corporations Act 2006 and overseen by Consumer Affairs Victoria. The legislation has undergone many revisions both to deal with ever-changing property ownership trends, ongoing prevalence of community management and to adjust to the continually evolving body of knowledge and experience gained from regulating the body corporate industry in VIC. There are also certain body corporate rules Victoria has that do not apply in other states and territories of Australia.   

Victoria body corporate services

The responsibilities of a body corporate include repair, maintenance, and overall management of the common property. Other services include holding suitable strata insurance, facilitating meetings and operating committees, complaint handling and resolving disputes. 

For further information, please contact your local ACE strata manager.