Buying an Apartment in Victoria: Check the Owners Corporation Records

When you buy an apartment, unit or townhouse affected by an owners corporation, you are also taking on shared rules, expenses and building risks. The apartment itself may look excellent while the owners corporation records reveal major works, disputes or rising levies.

What is an owners corporation certificate?

The Section 32 for an affected property should include prescribed owners corporation information and documents. The certificate may identify fees, unpaid amounts, insurance and other matters. Consumer Affairs Victoria notes that certificates may become dated and buyers may consider requesting an updated certificate or inspecting the register and records.

Documents worth reviewing

Current owners corporation certificate.

Rules and registered plan.

Recent annual general meeting and committee minutes.

Financial statements and maintenance fund information.

Insurance certificate and policy details.

Maintenance plan where applicable.

Notices, orders, building reports and correspondence about defects or cladding.

Look beyond the current quarterly fee

A low annual levy does not necessarily mean the building is inexpensive to own. It may indicate that maintenance has been deferred or the fund is inadequate. Check proposed budgets, special levies, major works and the history of fee increases.

Defects, water ingress and cladding

Meeting minutes may refer to leaks, balcony defects, façade works, combustible cladding, litigation or expert reports. Establish whether the issue is resolved, funded and insured, and whether the lot may face further contributions.

Rules and use restrictions

Owners corporation rules can affect pets, renovations, flooring, parking, common property and short-stay accommodation. Also check whether a lease, licence or exclusive-use arrangement affects a car space, storage area or courtyard.

Consider a records inspection

The certificate is a snapshot. For higher-risk or larger developments, an inspection of the owners corporation register and recent records may provide a clearer picture. Allow enough time before signing or bidding.

How DY Conveyancing Melbourne can help

A contract should be reviewed before you sign or bid, while there is still time to identify risk and request changes. DY Conveyancing Melbourne assists buyers and sellers across Victoria with contract review, property transfers and electronic settlement. Contact our team before committing to the transaction.

Frequently asked questions

Is an owners corporation certificate enough?

Not always. It may be dated or may not show the full context in meeting minutes and records.

Who pays a special levy?

The resolution, due date and contract determine the position.

Can the owners corporation stop renovations?

Approvals, rules and permits may apply.

Should I review records before auction?

Yes, because auction purchases are generally unconditional.

Important information

This article provides general information only and is not legal advice. Obtain advice about your contract and circumstances before acting.