When a plan of subdivision is registered and common property is created, an Owners Corporation (formally Body Corporate) is deemed to exist.
Overseeing maintenance and repairs of the beautiful place we call home, the Jubilee Owners Corporation Committee makes sure our parks, wetlands and playgrounds are kept clean and tidy for our residents’ use.
The Owners Corporation is the body made up of all the owners in a strata scheme, it has the responsibility for maintaining and repairing the common property of the owners corporation, managing the finances of the owners corporation and taking out insurance of the Owners Corporation.
An Owners Corporation can be a building, or an estate, it can be as small as two lots or it can be as big as 10,000 lots, it can be residential, commercial, retail, industrial or mixed use.
Relative to an estate such as yours, the perfect example of common property would be the Leisure Centres.