OWNERS CORPORATION CERTIFICATES
s.151 Owners Corporations Act 2006 and r.11 Owners Corporations Regulations 2018
What is an Owners Corporation Certificate?
A standard owners corporation certificate is provided by an owners corporation manager, to be inserted into a contract of sale for a property. It sets out a number of details of the owners corporation, for potential purchasers to review.
The standard owners corporation certificate provided by Melb OC satisfies all of the statutory requirements for vendors and conveyancers.
What is a Premium Owners Corporation Certificate (exclusive to Melb OC)?
For particularly astute investors or owner occupiers, Melb OC offers a premium owners corporation certificate package aimed at all astute buyers, looking to buy a property in an owners corporation managed by Melb OC.
Whether your property is an investment or a place to call home, Melb OC's premium owners corporation certificate provides significantly more details on the property, including any known combustible cladding issues, detailed finances, and insurance policies.
When you buy a stand-alone house, it is standard practice to obtain a structural report, or a pest report, to learn as much as you can about your new investment. At Melb OC, we believe that properties in an owners corporation should have additional information available to buyers as well.
Owners Corporation Certificate
Latest Annual General Meeting minutes
Any applicable combustible cladding reports
The insurance Certificate of Currency of the owners corporation
The comprehensive insurance of the owners corporation
The latest insurance valuation from a certified valuer
A fully itemised Statement of Income and Expenditure of the owners corporation for the previous financial year
A fully itemised Statement of Financial Position of the owners corporation for the previous financial year
A fully itemised budget of the current financial year
The latest financial audit
The latest Annual Essential Service Measures Report**
A 15 minute phone consultation with a Melb OC senior owners corporation manager
*Applicable to Tier 1 and Tier 2 owners corporations only
**May not be applicable for some smaller townhouse precincts
Do I Need an Additional Owners Corporation Certificate?
An additional owners corporation certificate will need to be purchased if there are two or more lots being purchased. Examples of additional lots include; an adjoining carpark lot, a storage cage lot, or if there are multiple owners corporations for the one property. If you have questions about additional lots and certificates, please contact Melb OC at email@example.com