Running a strata scheme involves more than just communal living. The Owners Corporation plays a central role in ensuring the property is well-managed, compliant with the law, and financially secure. These responsibilities are set out under the Strata Schemes Management Act and related legislation.

Core Responsibilities of the Owners Corporation

• Act as office bearers: Fulfil the roles of Chairperson, Secretary, Treasurer, and Public Officer of the scheme.
• Maintain common property: Arrange routine maintenance, repairs, or replacement of both common property and personal property of the scheme.
• Organise meetings: Arrange and attend annual general meetings and other meetings of the scheme.
• Manage insurance: Effect and renew all insurance policies required by law.
• Enforce by-laws: Issue notices to comply with by-laws when necessary.
• Maintain records: Keep and manage the scheme’s records as required by the Acts.
• Prepare financial reports: Develop budgets and provide financial reports in line with legal obligations.
• Affix the common seal: Keep and attest the affixation of the Owners Corporation’s common seal.
• Pay accounts: Ensure all accounts of the scheme are paid when due.
• Implement decisions: Carry out the decisions made by the Owners Corporation collectively.

Why These Duties Matter

These responsibilities ensure the scheme operates smoothly, protects the rights of all owners, and maintains the value of the property. Effective management also helps prevent disputes and provides a framework for fair decision-making within the community.