New Developments & Builders
Core Strata is dedicated to providing expert assistance in setting up new Owners Corporations in Victoria. Our comprehensive approach ensures that the process is seamless, compliant with local regulations, and beneficial for all parties involved. Below, we outline how Core Strata can assist you in establishing a new Owners Corporation and the steps we take to ensure it is set up correctly and optimally.
However, there are circumstances where there might be additional items that will need to be completed, but if this does occur, notification will be advised before proceeding.
How we can make it better?
let's break down your core strata journey....
1. Consultation & Planning
We begin with a consultation to understand your vision and requirements. We then develop a customised setup plan fully compliant with the Owners Corporations Act 2006 (Vic) and Owners Corporations Regulations 2018, including all tiered structures and governance standards. This lays a strong foundation for long-term management success.
2. Documentation & Registration
Once the plan is set, we prepare all essential documentation, including rules and by-laws. We ensure full compliance with the Owners Corporations Act 2006 (Vic) and Subdivision Act 1988.
Our team handles the entire lodgement process with Land Use Victoria via SPEAR, ensuring your Owners Corporation is officially registered, compliant, and ready to operate from day one.
3. Financial Setup
We handle the full financial setup for your Owners Corporation to ensure smooth, compliant operations from day one. This includes opening dedicated bank accounts and applying for necessary tax registrations, including an Australian Business Number (ABN) and required tax identifiers.
Additionally, we provide expert guidance on budgeting and financial planning—such as forecasting expenses and establishing maintenance funds—aligned with the Owners Corporations Act 2006 (Vic) to ensure long-term sustainability.
4. Insurance & Risk Management
We secure all legally required insurance policies, including building reinstatement and public liability insurance. Post-settlement, we arrange professional insurance valuations—mandatory every five years for prescribed Owners Corporations—and coordinate a Maintenance Plan for long-term upkeep.
To minimize risk, we conduct comprehensive property risk assessments and can arrange professional OHS reports. This proactive approach ensures your assets are protected and fully compliant with workplace safety standards from the outset.
5. Meetings and Governance
Core Strata organises and facilitates the Inaugural Meeting following settlement. We guide owners through the agenda, which includes reviewing rules, discussing initial operations, and electing the committee (Chairperson, Secretary, and Treasurer).
Conducted in accordance with the Owners Corporations Act 2006 (Vic), this meeting ensures transparent decision-making and lays the groundwork for a well-functioning, cohesive Owners Corporation.
6 the end result
Core Strata provides ongoing management services to support your Owners Corporation's long-term success. We handle day-to-day administration, coordinate maintenance, and ensure ongoing legal compliance, all while prioritizing clear and transparent communication with owners.
Setting up an Owners Corporation can be complex, but our expertise ensures a seamless, efficient, and stress-free process.
Contact Core Strata today to schedule your consultation using the below form and we will be in touch with you the next business day.