Owners Corporation

There are 157 lots in the Italian Forum Strata, and each owner is a member of the Owners Corporation. This is a legal entity that manages the Common Property for the benefit of all members of the Owners Corporation (Strata Plan 60918). The Owners Corporation has responsibility for the overall management of the scheme which includes:

  • maintaining and repairing the common property of the Strata scheme
  • managing the finances of the Strata scheme
  • taking out insurance for the Strata scheme
  • keeping records and accounts for the Strata scheme
  • administering the by–laws for the Strata scheme
  • employment of a Strata Managing Agent and/or Building Manager

The Owners Corporation can only make decisions at properly convened meetings. The Annual General Meeting (AGM) is held once a year. Extraordinary General Meetings can be held at any other time. The Owners Corporation may employ a Strata Managing Agent or Building Manager / caretaker to work for it. These agents are delegated some responsibilities and powers but the Owners Corporation has the final responsibility and can overrule them.

You can find out more about Owners Corporations at the NSW Government Office of Fair Trading.