What is Strata Management, Body Corporate and Owners Corporation? When should you use one term as opposed to another? Do they all mean the same thing? Why are there different terms? We regularly hear these questions from our clients. This article will outline some specifics about each term – Strata Management, Body Corporate and Owners Corporation.
To begin, the terms you use will be determined by the state in which you reside. To explain how to use these terms, we will break up the conversation based on Australian states.
In New South Wales, the Strata Scheme (or Strata Title) is the legal entity that owns the common property in a building.
Strata Management is the activity undertaken by a Strata Manager. As a general summary, the Strata Manager will:
What is now called Owners Corporation was once called Body Corporate.The Strata Management company will support the Owners Corporation, which is the entity that represents all owners, and of which you automatically become a part of when purchasing a property covered by a Strata title. The Owners Corporation are legally responsible for carrying out tasks such as maintaining the property’s common areas and shared amenities.
The Strata Committee (formerly known as the Executive Committee in New South Wales) is the group of individuals elected annually at the Annual General Meeting to represent all owners to act as a voice for the building. Roles include overseeing the day-to-day management and maintenance of the building, reviewing financial information, and approving invoices.
In the ACT, many of the rules that apply to the NSW terminology are transferable. See above.
One exception would be that a Strata Committee is commonly referred to as an Executive Committee in the ACT.
It’s simple – we exist to empower our clients to make the right decision on behalf of their communities.
Using our bespoke network of systems, dashboards and portals, we are able to identify and develop innovative solutions that empower our clients, giving them a seamless experience and connection to their strata community.
We will set you up with a team of experts who act as your personal advisors, transitioning your experience as part of an Owner’s Corporation from one of burden, to one of pride.
If you have any feedback regarding the service you are receiving from Civium Communities we would love to hear it.
Our Head of Communities, Jarrod Smith, can be reached at email@example.com; or call 1300 724 256