What is an owners corporation?

An owners corporation (also formally known as a body corporate) is a legal entity created to manage and maintain the common property of a building or development that is divided into multiple individual lots. Properties range from apartments, townhouses, to estates and club houses. 

Key responsibilities of an owners corporation typically include:

1. Maintenance and repair of shared or common areas.
    
2. Setting and managing budgets for the upkeep of common areas (e.g., cleaning, insurance, building repairs).
3. 
   
4. Managing finances, including levying fees to fund budgeted items.
    
5. Enforcing rules and regulations that govern owners within the common property.
    

The owners corporation is made up of all owners in the property. Each year the OC must hold an Annual General Meeting (AGM) This is where all owners have an opportunity to meet once a year to resolve the fees for the year. The AGM is a crucial and important key to running a well maintained property. 

The Committee is made up of an approved group of Owners at the AGM. The committee are delegated full functions and powers on behalf of the owners. The Committee must act in good faith and the best interest of the OC at all times. 

An Owners Corporation Manager holds a crucial role in managing and overseeing the operations of an owners corporation. We are the key point of contact between the owners, residents, agents and the contractors. This is to ensure that the property runs smoothly in terms of property maintenance, financial management, and adherence to regulations.

The main responsibilities of an OC Manager:

• Oversee the maintenance and repair of common areas like gardens, hallways, lifts, parking issues. This also includes assisting with major repair works, such as defects or cladding projects.
   
• Coordinate contractors, service providers, and maintenance staff to ensure work is completed on time.
   

• Develop and manage the annual budget for the owners corporation, ensuring funds are allocated for ongoing maintenance and repairs.
   
• Collect and manage owners’ contributions to fund the budget.
   
• Prepare financial statements and reports, providing transparency to the committee and owners on how funds are being used.
   

• Organize and facilitate meetings of the owners corporation, including the Annual General Meeting (AGM) and any special meetings.
   
• Keep records of meeting minutes, decisions made, and actions taken.
   
• Communicate regularly with committees regarding key issues, updates, or changes within the property.
   

• Ensure the owners corporation complies with the Owners Corporation Act and the Model Rules.  
   
• Issuing breach notices upon committee instructions.
  

• Ensure appropriate insurance coverage for common property.

• Address and mediate any disputes between owners or residents within the community, ensuring conflicts are resolved in a fair and timely manner.
   
• Handle complaints or issues relating to noise, pets, or other behavioral concerns that may affect the common property. 

• Assist in creating long-term strategies for property improvements, maintenance schedules, and major capital works.
   
• Help owners plan for significant expenses, such as large-scale repairs or upgrades with the assistance of a maintenance plan. This is outsourced to a committee approved company to prepare and present a report.
   

In essence, an OC Manager ensures that everything related to the building’s shared spaces and communal living operates efficiently, cost-effectively, and in compliance with regulations.