Body Corporate Townhouse

Townhouse and Apartment Living

What is a Strata Complex?

When you choose to live in a residential apartment, townhouse, unit, villa or duplex, you enter into what is known as a strata complex. A strata complex, otherwise known as a strata townhouse or apartment scheme, is a system for handling the legal ownership of the shared portions of your building.  In Victoria, strata schemes are called Owners Corporations, although probably better know by their old term, Body Corporates.

The common property in your building that needs to be managed will include communal or common property areas such as stairwells, gardens, pools, driveways, laundries, lobbies, and building exteriors.

What is an Owners Corporation or Body Corporate?

An Owners Corporation is a legal entity comprised of owners in your communal building. In some states, it’s still known as the Body Corporate.

The role of an apartment or townhouse Body Corporate or Owners Corporation is to manage common property, help make decisions on behalf of the majority and make your co-living experience as seamless as possible.

Body Corporate – Townhouse or Apartment

In a townhouse or apartment, some of the functions your Body Corporate will coordinate include daily affairs, insurance, meetings, collecting and banking fees, administration and maintenance and repair of shared areas.

Each year the Body Corporate Manager will prepare a budget to cover all expected administration expenses. Your yearly apartment or townhouse strata fees are then agreed to by the lot owners at each Annual General Meeting.

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    These fees enable your Body Corporate to manage and maintain common property. Fees are based on your liability and share of common property, that is generally determined size of your lot in proportion to the building.

    Learn more about [Strata Management Fees].

    How Iconic Strata Can Help

    At Iconic Strata, we are leaders in Strata Management. We are small enough to take pride in each Body Corporate we manage yet experienced enough to efficiently service properties of all sizes.

    We often hear from owners who are frustrated by their underperforming Body Corporate manager. A lack of communication, long drawn out meetings without resolution, and delays in processing maintenance and repairs.

    At Iconic, our smart approach and Service Performance Guarantee is what sets us apart from others in the industry. We understand that you value your property and want the best possible service, and that’s what we deliver.

    At Iconic Strata, we strive to be different. Our philosophy is to deliver the unexpected for our valued clients, and to make their strata living experience relaxed and stress free.

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    We would be delighted to discuss with you how Iconic Strata Management can make a difference for your Owners Corporation.

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