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Why Choose Ham Kerr?
- Experienced Local Agents in Balwyn
- Proven Track Record of High-Value Sales
- Tailored Selling Strategies for Business Owners
- Dedicated Support from Listing to Settlement
Recent Sales
5 Frederick Street
Bulleen
8/26 Lansdowne Road
St Kilda East
30/26 Lansdowne Road
St Kilda East
5 Frederick Street
Bulleen
How It Works
Free Property Appraisal
Customized Selling Plan
Marketing & Buyer Matching
Negotiation & Sale
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FAQ
What is an Owners Corporation?
An Owners Corporation is responsible for managing the common property in residential, commercial, retail, industrial, or mixed-use developments. Common property can include driveways, stairs, elevators, lobbies, gardens, and any other shared facilities used by all owners and residents. If you own a flat, apartment, or unit, you are likely a member of an Owners Corporation. These corporations can either be self-managed by the lot owners or professionally managed by a registered Owners Corporation Manager.
DO I HAVE TO BE PART OF THE OWNERS CORPORATION?
Yes, if you own a property that is part of an Owners Corporation, you automatically become a member. As a member, you are legally and financially responsible for your share of the Owners Corporation’s costs and obligations.
WHAT IS A PLAN OF SUBDIVISION?
A Plan of Subdivision is a legal document registered with Land Victoria that outlines the division of land and any associated common property. It automatically establishes an Owners Corporation when it includes common areas. This document is essential for creating the structure of ownership and shared responsibilities in multi-property developments.
DIFFERENCE BETWEEN LOT ENTITLEMENT AND LOT LIABILITY?
Lot Entitlement refers to your share of ownership in the common property, which also determines your voting rights within the Owners Corporation. Lot Liability represents your portion of the expenses that each lot owner must contribute toward the maintenance and management of the common property. Before purchasing a property within an Owners Corporation, it’s important to ensure the allocation of these entitlements and liabilities is fair and reasonable.
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Find us
Visit our office or reach out to us for expert property advice.
- 230 Whitehorse Road Balwyn VIC , 3103
- 03 9830 0990
- mail@hamkerrproperty.com.au