An Owners Corporation (OC) is created when the plans for a ‘multi-dwelling’ development are lodged. Most commonly, this will be plans for an apartment building, but it can also be townhouse developments, housing communities/estates, and commercial buildings such as offices or warehouses.

When you buy a lot within an OC (e.g. an apartment or townhouse) you automatically become a member of the OC.

The reason for this is properties like this have shared components – such as hallways, stairwells & lifts, gardens, facilities, plumbing etc. – which are not owned by one party, and instead are jointly owned by all those who buy into the property.

An OC is responsible for administering and maintaining all these ‘shared’ components, known as ‘common property’.

An Owners Corporation was formerly called a ‘Body Corporate’, and you may also hear it referred to as a ‘Strata Community’ – all these terms can be used interchangeably; however, OC is the correct term since 31 December 2007.