About Owners Corporation or Body Corporate Fees in Victoria
If you happen to be an individual apartment or townhouse owner, or a lot owner under any strata title scheme, or are planning to purchase property under a strata title, you will also become liable to pay certain fees towards your body corporate or owner’s corporation, for managing the shared areas of your property, including insurance and the upkeep of common areas. This is termed as owners corporation, or body corporate, fees or levies.
As we get many questions around this topic, we have decided to share all the key information that you might need to know about the typical body corporate fees in Melbourne and other areas of Victoria. Please note that the rules around body corporate fees can vary from state to state, so you should confirm the local requirements with the appropriate government body. The strata industry association, Strata Community Australia or SCA, is another good source of information and has state-specific information available from their website, https://www.strata.community/. For Victoria, SCA (VIC) has some useful information for owners at https://www.vic.strata.community/vic-owners-information.
The information below relates specifically to Victoria and is provided to assist you in budgeting for owners corporation fees in advance.
The two main types of owners corporation fees
The Consumer Affairs Victoria website mentions two types of body corporate fees, in practice within Melbourne and other locations in Victoria: