Obligations of Owners Corporation

An Owners Corporation must:

  • Manage and administer common property
  • Repair and maintain the common property, fixtures and services
  • Take out and maintain required insurance
  • Raise fees from the Lot owners to meet financial obligations
  • Prepare financial statements and keep financial records
  • Provide Owners Corporation certificates when requested
  • Keep an Owners Corporation register
  • Ensure compliance and carry out any functions and duties under the
    Owners Corporations Act 2006, the Owners Corporations Regulations 2007,
    Subdivision Act 1988 the Owners Corporation’s rules and any other
    law or regulation
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