Owners Corporation Management

The benefit of appointment with BFG Asset Management is that we also offer Owners Corporation services (formerly known as Body Corporate) for unit/apartment owners.

What is an Owners Corporation?

The lot you are considering buying may be part of an Owners Corporation if it has common area associated to the development. Whenever a plan of subdivision creates common property, an owners corporation is responsible for managing the common property. When purchasing a lot that is part of an Owners Corporation, buyers automatically become members of the Owners Corporation.

If you buy into an Owners Corporation you will be purchasing not only the individual property, but also ownership of, and the right to use, the common property as set out in the plan of subdivision. This common property may include driveways, stairs, paths, common garden areas and other facilities set up for use by owners and occupiers. In order to identify the boundary between the individual lot you are purchasing (for which the owner is solely responsible for) and the common property (for which all members of the owners corporation are responsible), you should closely inspect the plan of subdivision.