Essential Documents an Owners Corporation Must Keep

An Owners Corporation (OC) is responsible for maintaining a variety of important documents that help ensure transparency and proper management. Here are some key documents an OC must keep:

1. Financial Records: These include income and expenditure statements, annual budgets, and records of levies and payments made by owners.

2. Meeting Minutes: Documentation of all meetings, including Annual General Meetings (AGMs) and any special resolutions passed.

3. Legal Documents: Copies of by-laws, insurance policies, building management statements, and any legal correspondence.

4. Maintenance Records: Details of repairs, maintenance work carried out, and capital works funds plans.

5. Correspondence: All communication with lot owners, tenants, and contractors regarding strata matters.

Why Keep These Documents?
Maintaining these records ensures the OC operates transparently, provides accountability, and helps in resolving disputes or making informed decisions about the property.

Need Help Managing Your OC Documents?
QT Strata can assist you in organising and maintaining all necessary documents for your strata scheme, ensuring compliance and smooth operation. Contact us today to learn more!