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 can we help?
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1. Initial Consultation and Planning​
We begin with a comprehensive consultation to gain a deep understanding of your vision, requirements, and objectives for the new property. This initial step allows us to tailor our approach to suit your specific needs and ensure a smooth establishment process. From there, we develop a customised plan to set up the Owners Corporation, carefully aligning every detail with the legal framework outlined in the Owners Corporations Act 2006 (Vic) and the Owners Corporations Regulations 2018. Our process ensures full compliance with all statutory obligations, including the latest tiered structure for owners corporations, governance requirements, and operational standards.
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This thorough and personalised approach lays a strong foundation for effective management and long-term success.
2. Documentation and Registration
Once the tailored plan for your Owners Corporation is in place, we move forward with preparing all the essential documentation required for formal registration. This includes drafting the Owners Corporation rules, by-laws, and other key legal instruments that govern the management and use of common property.
At Core Strata, we take care of every detail—from ensuring the documents meet the requirements of the Owners Corporations Act 2006 (Vic) and Subdivision Act 1988, to aligning with the latest regulatory updates. Once all documentation is finalised and approved, we manage the lodgement process with Land Use Victoria. This includes submitting the plan of subdivision and accompanying Owners Corporation information through the SPEAR (ELN), now mandatory for represented parties as of April 2024.
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Our team ensures that every step is handled with precision and professionalism, so your Owners Corporation is officially registered and compliant—ready to operate with confidence from day one.
3. Financial Setup
As part of establishing your Owners Corporation, we take care of setting up the financial infrastructure to ensure smooth and compliant operations from day one. This begins with opening dedicated Owners Corporation bank accounts, which are essential for managing levies, maintenance funds, and other financial transactions in a transparent and efficient manner.
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We also handle the application process for obtaining a Tax File Number (TFN) and an Australian Business Number (ABN)—both of which are required for tax reporting and financial administration. These registrations are crucial for enabling the Owners Corporation to operate as a legal entity, lodge tax returns if necessary, and interact with government agencies and financial institutions.
Beyond the setup, our team provides expert guidance on budgeting and financial planning tailored to your property’s scale and needs. We help forecast expenses, establish sinking funds, and implement financial controls that support long-term sustainability and compliance with the Owners Corporations Act 2006 (Vic).
With Core Strata, you can be confident that your Owners Corporation is not only legally registered but also financially prepared to operate effectively and responsibly.
4. Insurance and Risk Management
Securing the right insurance coverage is a critical step in protecting your Owners Corporation and its members. At Core Strata, we assist in obtaining all necessary insurance policies, including building reinstatement and replacement insurance and public liability insurance, as required under Victorian legislation.
These policies safeguard the Owners Corporation against unexpected events such as property damage, personal injury claims, and legal liabilities.
Following settlement, and where required, Core Strata will arrange for a professional insurance valuation to ensure the property is adequately covered. This is especially important for prescribed Owners Corporations, which must obtain a valuation at least every five years. We also coordinate the development of a Maintenance Plan, which outlines the long-term upkeep of common property and helps inform future budgeting and levy planning.
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To further strengthen your risk management framework, our team conducts a comprehensive risk assessment of the property. This process identifies potential hazards and vulnerabilities, allowing us to implement proactive strategies to mitigate risks before they escalate.
If additional evaluation is needed, we can also arrange for a qualified professional to complete an Occupational Health and Safety (OHS) report, ensuring compliance with workplace safety standards and enhancing the overall safety of the property for residents, contractors, and visitors.
With Core Strata, you can be confident that your Owners Corporation is not only compliant but also well-prepared to manage risk and protect its assets from the outset.
5. Meetings and Governance
As part of establishing your Owners Corporation, Core Strata organises and facilitates the Inaugural Meeting, a pivotal first step in bringing all owners together following settlement. This meeting sets the foundation for collaborative decision-making and ensures that every stakeholder is informed, engaged, and empowered to contribute to the future of the property.
We guide participants through the agenda, which includes reviewing the Owners Corporation rules, discussing initial operational matters, and confirming key responsibilities. A central part of this meeting is the election of the committee, where we assist in selecting essential office bearers such as the Chairperson, Secretary, and Treasurer. These roles are vital for the effective governance and day-to-day management of the Owners Corporation.
Our team ensures the meeting is conducted in accordance with the Owners Corporations Act 2006 (Vic), providing clarity and structure so that decisions are made transparently and with consensus. By facilitating this process professionally and thoroughly, we help lay the groundwork for a well-functioning and cohesive Owners Corporation from the very beginning.
6. Ongoing Management and Support
At Core Strata, our commitment doesn’t end with the initial setup—we provide ongoing management services designed to support the long-term success of your Owners Corporation. This includes coordinating maintenance and repairs, handling day-to-day administrative tasks, and ensuring that all operations run smoothly and in accordance with Victorian legislation.
We prioritise clear and transparent communication, keeping all owners informed about key decisions, updates, and developments. Whether it’s financial reporting, maintenance scheduling, or committee updates, our team ensures that everyone stays connected and involved.
Establishing a new Owners Corporation in Victoria can be a complex and detailed process, but with Core Strata’s expertise and hands-on support, you can be confident that every step will be handled correctly, efficiently, and with your best interests in mind. Our comprehensive approach and industry best practices ensure that the Owners Corporation is set up for long-term success—benefiting all parties involved.
For more information or to schedule a consultation, please don’t hesitate to contact Core Strata today.
We’re here to make the process seamless and stress-free.