Owners corporation VS. strata committee – What’s the difference?
The governance, management and upkeep of strata property is responsibility of the owners corporation and executive committee. However, there are certain nuances to their individual and collective responsibilities that make strata living smooth and seamless.
Owners corporation (or body corporate)
Your owners corporation (or body corporate) has the primary responsibility of overseeing and managing all common areas, infrastructure and shared amenities within a strata property.
As an owner, you become part of the owners corporation and have a say on how your strata property runs. You must therefore, be aware of its core responsibilities so you can stay informed and involved in all things related to your strata property.
As per the Strata Schemes Management Act (2015), your owners corporation (or body corporate) is required to:
- Oversee, manage and ensure timely maintenance and repairs of all common property
- Manage the finances and funds
- Take insurance against the strata property
- Keep records and accounts of all strata property matters
- Appoint an executive committee
Your owners corporation may also choose to appoint a building manager and engage with a strata management agency who can support the committee and offer advice on strata property matters.
The executive committee
The owners corporation elects a few owners to form an executive committee at every annual general meeting (AGM). This committee is a subset of the owners corporation or body corporate, and it’s role is to ensure the day to day businesses run smoothly so that all owners benefit from strata community living in the best possible way.
Your committee’s goals and activities are always aligned with the requirements of the owners corporation, as well as the state laws. The key responsibilities include:
- Assisting the owners corporation on the day to day management and maintenance of the common property
- Taking decisions on behalf of the owners corporation
- Appointing the office bearers – chairperson, treasurer and secretary to carry out specific tasks as outlined by the law. These office bearers hold the same positions within the owners corporation as well.
PICA Group note: Did you know that only committee members have the right to vote and appoint an office bearer? As an owner, the responsibility of choosing your representatives ultimately lies with you. While voting for your committee at an AGM, make sure you choose your committee members well, so they can further vote for the best representatives who are committed to enhancing community living.
If you are looking for a new strata manager to assist your committee, contact us for a free strata assessment.