Body corporate / owners corp

The body corporate (called owners corporation in NSW + VIC, strata company in WA, community corporation in SA) is the legal entity made up of every lot owner in a strata-titled building. It's responsible for maintaining the common property, insuring the building, enforcing by-laws (pets, noise, short-term lets), and managing the sinking fund and admin fund. Decisions are made by majority or special-majority vote at annual general meetings. Most bodies corporate appoint a strata manager (an external company) to handle admin, but the owners themselves are the ultimate decision-makers. The annual levies cover insurance, cleaning, gardening, lift servicing, building manager wages, and contributions to long-term sinking-fund expenses (lift replacement, repainting, roof renewals).