The owner’s corporation consists of all the owners of the lots which make up the scheme. They tend to be an owner-occupier or an owner-investor. Their duty is to administer, control, maintain, repair and manage all areas of the common property. They elect a committee to help manage the common property of a building.
Generally, the owner’s corporation committee consists of:
The owner’s corporation committee makes the vast majority of the decisions that govern your owners corporation scheme. They are elected at each annual general meeting (AGM).
All lot owners have the same right to volunteer to be elected as committee members, but that would depend on the number of lots in a strata property. In New South Wales, there are certain criteria to form a committee:
- Lots having only one owner has only that person as the committee member
- In a two-lot strata property, both owners can be in the committee
- In properties having more than two lots, there can be a maximum of nine committee members
- In large properties with more than 100 lots (not including the lots used for utilities), the committee can have a maximum of 9 members
Your owners corporation manager has five main roles:
Their job involves co-ordinating committee meetings, recommending contractors, keeping track of records, advising owners on relevant legislation and mediating relationships between owners.