The Victorian Government has published its long-awaited OC Act Review and announced legislation based on its recommendations.
A bill to be introduced to parliament today will include mandating new rights for owners seeking hardship payment plans, clearer rules for owners corporations starting legal proceedings over non-monetary matters, and changes to the Subdivision Act to make it easier to alter subdivision plans
The REIV and its Owners Corporation Committee engaged and provided feedback to the independent panel conducting the review, including recommending:
raising professional standards with advanced education for owners corporation managers, committees and lot owners
establishing a dedicated owners corporation commissioner to help enforce standards and provide clear dispute resolution pathways
enhancing governance frameworks and accountability measures to ensure integrity and transparency in owners corporations
balancing collective and individual rights within strata communities; and
strengthening protections for lot owners in new developments to ensure transparency and sustainability.
The REIV is working through the review’s recommendations and their implications. It will continue to advise its owners corporation membership and the wider sector of new obligations as legislation is introduced.
Notably, the REIV has been confirmed as a prescribed CPD provider under the draft owners corporation education regulations. Mandatory CPD requirements for owners corporation managers commence 1 April 2028.