Amendments to the Owners Corporation Act are now law

Amendments to the Owners Corporation Act are now law

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The Victorian Parliament has now passed the Owners Corporations and Other Acts Amendments Act 2021 which brings into effect, as of 1 December 2021, a substantial number of changes and enhancements to the Owners Corporations Act 2006.

There was significant input from many stakeholders in the preparation of the amendments over an extended period of time. The implementation was delayed for numerous reasons in its progress through Parliament.

However, now that it is here, Victorian Body Corporate Services (VBCS) Community Managers will be working through the requirements with Owners Corporations in preparation for the implementation.

The amendments will bring significant changes and in many ways are intended to make the operation and function of your Owners Corporation easier.

There will be obligations for Owners Corporations and for Community Managers to follow or implement, and there are protections for owners in a number of ways.

As with any amendments or changes to an Act, no doubt there will be conjecture over some components and the benefits that lie within. There will likely be discussions whether the amendments have gone far enough, do they make practical sense, what will the cost implications be and how will they all play out and come into fruition.

At VBCS, our business leaders have been involved with preparation of the amendments and continue to play an active role in support of our industry association, Strata Community Australia Victoria (SCA VIC), through the phases of the development at a number of levels.

We will continue to advise our Committees and Owners Corporations of the implementation process as we move forward to the start date of 1 December 2021.

Our trusted partner and expert Owners Corporation lawyers, Tisher Liner FC Law, prepared an outline of the changes to the Owners Corporations Act 2006 which we have made available for you to download.

We look forward to working with you throughout this implementation phase. Should you require any further information, please contact your VBCS Community Manager.

For assistance with these amendments contact Tisher Liner FC Law. To discuss your property’s strata management needs or receive a FREE management proposal contact our friendly team. We also offer more helpful resources and community living news in our FREE newsletter.

The information provided is a general guide only and is not intended as a substitute for legal advice. The company disclaims all responsibility and liability for any expenses, losses, damages, and costs which might be incurred as a result of the information provided by the company. This content is published in partnership with Tisher Liner FC Law.

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