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. 

June 2024 

In June 2024, the REIV submitted a proposal advocating for legislative adjustments to the Estate Agents (Education) Regulations 2020. Currently, individuals must complete all eighteen units of the CPP41419 Certificate IV in Real Estate Practice before commencing work as a real estate agent. This rigid requirement limits workforce entry, reduces practical experience for new entrants, and constrains the sector amid ongoing staffing shortages. 

The REIV proposed an Interim Certificate that would allow students who complete the first five core units of the Certificate IV to commence supervised work experience under licensed agents while completing the remaining thirteen units. This would align Victoria with practices in New South Wales, where assistant agents may begin practical work after completing a similar set of core units. 

The proposed changes would: 

• Support faster entry into the real estate workforce. 

• Reduce labour pressures on the real estate sector. 

• Enhance practical education and workplace readiness for new agents. 

• Increase service standards across the real estate sector. 

By modernising the Regulations, Victoria can strengthen its workforce pipeline, improve agent training, and support the state government’s housing objectives, including the delivery of 800,000 new homes over the next decade. This approach benefits all stakeholders, including agents, renters, buyers, sellers, and industry trainers.