Since 2006 in Victoria, Owners Corporation (OC) subdivision has replaced the label “Body Corporate Subdivision” or “Strata Subdivision. It is estimated that one third of all titles created in Victorian land subdivisions now have membership of an owners corporation (OC). This is a growing statistic as urban density grows, giving rise to the need for shared space within a subdivision.
The shared space, known as common property is jointly owned between each member nominated in a subdivision plan. The joint ownership, also carries joint sharing of expenses to maintain, insure and provide for the management of shared space.
These tasks are typically managed by a professional owners corporation manager who may be appointed by the OC members. For small developments, the members can choose to manage the OC by themselves. It is important however to understand the obligations and responsibilities for managing an OC.
Since 1985, the Licensed surveyors at KLM Spatial have built a depth of project knowledge in preparation of all types of Owners Corporation Subdivision Plans.
KLM Spatial specialise in low rise unit developments, hi-rise apartments and multi stage complexes which combine commercial, residential and retail land use.
For further information on creating, modifying or understanding your Owners Corporation subdivision, give us a call right now or use our handy online enquiry form.