Owners Corporation Act 2006

Owners Corporation Act 2006

Management of common property across all real estate in Victoria

The Owners Corporation Act regulates owners corporations throughout Victoria. Owners Corporations manage the common property of division or unit title schemes. The Act sets out the roles and duties of Executive Committees that are elected by owners to exercise the function of the owners' corporation.

Stakeholders who interact with the Owners Corporation Act and its associated legislation include: lot owners i.e. , members of Owners Corporations, Owners Corporations Management, residents within Owners Corporations managed properties, members of the public, builders, and building inspectors.

Key Documents

Owners Corporation Act 2006

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Owners Corporation Regulations 2018

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Owners Corporations and Other Acts Amendment Act 2021

Read Here

Major Discussion Areas

Key matters under the Act that the REIV has documented policy positions on or is currently advocating on, are listed below. Members are encouraged to review these policies and provide their comments where appropriate. This is not a comprehensive list of matters under consideration.

Mandatory education requirements for owners corporation managers

The REIV has recommended that the Victorian Government introduces mandatory minimum education requirements for the state’s owners corporation management professionals as the sector continues to grow. The REIV has proposed the introduction of sector specific minimum qualifications that appropriately reflect the high level of responsibility, financial expertise and real estate oversight required from people working in owners corporation management.

The recommendations include the introduction of mandatory Certificate IV or Diploma qualifications for owners corporation managers and directors of owners corporation management businesses. It also offers transitional arrangements for people already working in the sector and measures to help qualified real estate professionals transition to owners corporation management.

Read The Proposal

Response to proposed changes to the Owners Corporation Act 2006

The Owners Corporation Regulations and Draft Legislation were introduced in 2018. The REIV responded to the draft Owners Corporations and Other Acts Amendment Bill.

Response to RegulationsResponse to Draft Legislation

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