The Owners Corporation Act 2006 provides the legal framework governing the management and administration of common property in multi-owner developments in Victoria.
The Owners Corporation Act 2006 governs the rights and responsibilities of owners corporations, lot owners, and residents in multi-owner developments such as apartments, townhouses, and mixed-use buildings. It establishes the framework for governance, financial management, maintenance and repairs of common property, insurance, meetings, dispute resolution, and compliance. Together, these provisions support the transparent and effective management of shared property and define how owners corporations operate within Victoria’s property landscape.
The Owners Corporations Regulations 2018 complement the Act by setting out model rules and operational requirements for managing property, finances, and member responsibilities, covering day-to-day matters such as maintenance, noise, pets, and fee collection. Amendments introduced in 2021 strengthened governance, accountability, and protections for lot owners, while further reforms under the current review aim to align the framework with Victoria’s broader housing strategy and the growth of high-density living.
The Owners Corporation Act 2006 sets the legal framework for managing and maintaining common property in multi-owner developments across Victoria.
The Act and Regulations outline governance, financial, maintenance, and dispute resolution obligations for owners corporations, managers, and lot owners.
The REIV supports balanced reforms that strengthen professional standards, transparency, and effective management across Victoria’s growing strata sector.
Provides the framework for the creation, management, powers, and duties of owners corporations in Victoria.
Introduced major reforms to strengthen governance, clarify maintenance responsibilities, and improve dispute resolution for owners corporations.
Established detailed operational requirements, including prescribed forms, insurance, and model rules for owners corporations.
Due to the scope and complexity of the Owners Corporation Act, the REIV has advocated on and documented diverse policy positions and issues. This is not an exhaustive list of owners corporation matters under consideration or engagement by the REIV.
September 2025
The Victorian Government undertook a comprehensive review of the Owners Corporation Act 2006 to strengthen governance, enhance transparency, and deliver fairer outcomes for communities in strata developments. The REIV supported these objectives while ensuring reforms remained practical and sustainable. Key recommendations include:
Raising professional standards through advanced education for owners corporation managers, committees, and lot owners
Establishing a dedicated Owners Corporation Commissioner to provide oversight and resolve disputes
Strengthening governance with enhanced accountability and scrutiny
Balancing collective and individual rights within strata communities
Strengthening protections for owners in new developments to ensure transparency and long-term sustainability
The REIV reaffirmed its commitment to collaborating with the Victorian Government to deliver reforms that provide meaningful improvements for lot owners, residents, and managers, while supporting sector growth and stability.
October 2024
In October 2024, the REIV provided its submission to the Minister for Consumer Affairs as part of the review of the Owners Corporation Act 2006. The submission emphasised the growing role of owners corporations in Victoria’s housing landscape and called for mandatory minimum education requirements for owners corporation managers and directors of management businesses.
Key recommendations included:
Mandatory Certificate IV or Diploma qualifications for entry into owners corporation management
Transitional arrangements for existing professionals to recognise prior experience and fast-track qualifications
Clear pathways for qualified real estate practitioners to transition into owners corporation management
Education requirements aligned with other real estate services to ensure consistency across the sector
The submission highlighted the rapid growth of strata living under the Government’s Housing Statement, with medium- and high-density developments forming a significant share of new housing. The REIV emphasised the importance of a modern framework to ensure managers are appropriately qualified, enhance professional standards, and promote transparency and accountability.
March 2018
In March 2018, the REIV submitted to Consumer Affairs Victoria on the review of the Owners Corporations Regulations 2007, which were due to expire in December 2018. Feedback from REIV members indicated that the existing regulations were generally satisfactory, but refinements were required to ensure clarity, accountability, and effectiveness.
Key recommendations included:
Amending the definition of a prescribed owners corporation to exclude minor accessory lots such as car spaces
Increasing the minimum professional indemnity insurance cover from $1.5 million to $5 million
Reviewing prescribed proxy forms to ensure appropriate use at both general and committee meetings
Extending model rules to allow owners corporations to regulate external alterations and works affecting a development’s uniformity
The submission was designed to improve consistency, accountability, and consumer protection across owners corporation operations, while reaffirming the REIV’s commitment to working with government on a transparent and effective regulatory framework.