admin-ajax.php

Owners Corporation

Owners Corporation’ replaced the term and concept ‘Body Corporate’ effective December 31st, 2007 with the Owners Corporation Act 2006.

Members of an owners corporation include any owner of a flat or unit on a piece of land with common property shared with others.

Members of the Owners Corporation have the responsibility to manage, repair and maintain Common Property on the estate such as laundry, gym, shared barbecue or pool, as well as driveways, stairs, lawn, letterboxes and gardens.

Owners Corporation often require members to contribute a fee to pay for maintenance services such as gardeners, painters and supplies, to perform tasks, or adhere to certain standards of décor or heritage restrictions.

 

« Back to Glossary Index


Want more of this type of information?



'Owners Corporation' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*