At a glance — Victorian owners corporation searches
| What it is | A package of documents disclosing the owners corporation's financial, legal, and operational status |
| Legal basis | Owners Corporations Act 2006 (Vic), Owners Corporations Regulations 2018 |
| Form 23 certificate | The statutory certificate the OC must provide on request — fee capped at $156 (2026) |
| What Form 23 contains | Annual fees, special levies struck, insurance, audit, repairs notices |
| What Form 23 doesn't contain | Pending defect litigation, anticipated special levies, by-law disputes, OC governance issues |
| Why minutes matter | The minutes show what's actually being discussed; Form 23 is a snapshot in time |
| Typical Form 23 turnaround | 5-10 business days from request |
| Typical OC minutes pull | 2-5 business days |
| Our standard practice | Pull Form 23 AND last 24 months of minutes for all strata-titled properties |
| Building defect litigation | A substantial issue in mid-2010s and early-2020s Melbourne buildings |
What is an owners corporation search in Victoria?
An owners corporation search in Victoria is the package of investigations a conveyancer undertakes to assess the financial, legal, and operational status of the owners corporation (formerly called "body corporate") governing a strata-titled property. The legal foundation is the Owners Corporations Act 2006 (Vic) and the Owners Corporations Regulations 2018. The Form 23 certificate is the statutory disclosure document the OC must provide on request, but it's only a snapshot in time — it shows what's been formally struck, not what's being discussed. A complete buyer-side search also pulls recent OC meeting minutes, which often disclose pending defect litigation, anticipated special levies, by-law disputes, and governance issues that the Form 23 doesn't capture. For Melbourne apartment buyers — particularly in newer buildings working through building defect issues — the difference between a Form 23-only search and a full search that includes minutes is the difference between catching a $25K special levy pre-contract or finding out after settlement. At Fogarty Oliver Rothschild, principal lawyer Elisa Rothschild BA/LLB pulls Form 23 and 24 months of OC minutes as standard for every strata-titled property. This guide is for anyone buying an apartment or strata-titled property in Victoria.
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What is a Form 23 owners corporation certificate?
The Form 23 is the statutory certificate that an owners corporation must provide on request under section 151 of the Owners Corporations Act 2006. It's prescribed by regulation 14 of the Owners Corporations Regulations 2018.
What the Form 23 must disclose:
- The total amount of fees levied on the lot for the current financial year
- Any unpaid fees on the lot
- Any special levies struck and unpaid
- The current balance of the maintenance fund
- The current balance of the administrative fund
- Particulars of the owners corporation's insurance policies (where applicable)
- Whether the OC has audited financial statements
- Any current notices, orders, or proceedings against the OC
- Any notices issued by the OC against the lot owner
- Any pending repairs or maintenance works the OC is liable for
Fee cap: The OC can charge a fee for providing the Form 23, capped under the Regulations (approximately $156 in 2026, indexed annually).
Typical turnaround: 5-10 business days from request, sometimes faster, sometimes slower depending on the OC manager.
What's missing from Form 23:
The Form 23 captures what's been formally decided. It doesn't capture:
- Defect issues that have been discussed but not yet resulted in formal action
- Special levies under consideration but not yet struck
- Litigation that's been threatened but not commenced
- By-law amendments under discussion
- Governance disputes between owners and the committee
- The general culture and competence of the OC management
For those things, you need the meeting minutes.
Why do owners corporation minutes matter?
The minutes of OC meetings — typically annual general meetings (AGMs), extraordinary general meetings (EGMs), and committee meetings — show what's actually being discussed. They're not part of the Form 23, but they're public records that lot owners (and prospective purchasers, through their conveyancer) can request.
What the minutes typically disclose:
- Building defects identified, discussed, or under investigation
- Repair quotes obtained, even if special levies haven't been struck
- Insurance claims made, pending, or denied
- Legal advice obtained or pending
- Disputes between lot owners or with the OC
- By-law amendments proposed or passed
- Maintenance and capital works planning
- Governance issues, voting disputes, committee composition changes
Practical reality in Melbourne 2026:
Many mid-2010s and early-2020s Melbourne apartment buildings are working through building defect matters — particularly cladding (post-Grenfell awareness), waterproofing, façade rectification, and balcony defects. These issues often appear in the minutes for 6-18 months before they result in formally struck special levies. A buyer who only sees the Form 23 may settle just before a substantial levy lands.
A 2024 Carnegie matter: A buyer reviewing a Section 32 on a $590K one-bedroom apartment in a 2018-built Carnegie building. Form 23 showed annual levies and a maintenance fund balance — clean on its face. We pulled the OC minutes for the last 24 months and found: discussions of waterproofing defects at three consecutive committee meetings, quotes for rectification of $4.2M total, and an OC vote to retain a lawyer to pursue the developer. Special levies were anticipated at $14-$25K per unit over the following 24 months. Buyer renegotiated by $20K (taking the price to $570K — comfortably under the $600K full first-home-buyer stamp duty exemption threshold), claimed the exemption, and proceeded with informed eyes.
What's the difference between a Form 23 search and a full OC search?
| Form 23 only (cheap online conveyancers) | Form 23 + minutes (Fogarty Oliver Rothschild standard) | |
|---|---|---|
| Fee included | Usually $40-$60 included in conveyancing | Included in $660-$990 fixed fee |
| Discloses formally struck levies | ✓ | ✓ |
| Discloses anticipated levies | ✗ | ✓ |
| Discloses defect litigation | Only if formal proceedings have commenced | Discusses earlier |
| Discloses governance disputes | ✗ | ✓ |
| Discloses by-law amendment proposals | ✗ | ✓ |
| Discloses recent insurance claims | Only via certificate | Via minutes detail |
| Captures management competence signals | ✗ | ✓ |
| Disclosure window | Snapshot at certificate date | 24 months of historical activity |
For newer buildings (post-2010) where defect issues are common, the difference between Form 23-only and full minutes review is substantial. For older buildings (pre-1990) with established OC patterns, the gap is often smaller — but the minutes still capture any unusual activity.
At Fogarty Oliver Rothschild, Form 23 plus 24 months of minutes is standard for every strata-titled property. No upcharge.
What building defect issues should I watch for in Melbourne 2026?
Several building defect categories appear repeatedly in Melbourne OC minutes in the current period:
Cladding rectification. Post-Grenfell (UK, 2017) awareness drove substantial cladding audits across Melbourne high-rise buildings. The Victorian government's Cladding Safety Victoria program is still working through buildings; many OCs are funding rectification work via special levies. Some buildings have completed rectification; many haven't.
Waterproofing defects. Particularly common in mid-2010s and early-2020s buildings — balcony waterproofing, bathroom waterproofing, basement carpark waterproofing. Rectification costs can be substantial.
Façade rectification. Salt corrosion on bayside buildings; weathering and material degradation on older buildings; product defects on newer buildings.
Lift and mechanical systems. Major capital works in older buildings — lift modernisation, HVAC replacement, fire safety system upgrades. Substantial one-off costs.
Common-area refurbishment. Lobby, corridor, and external area refurbishment — typically less critical but can attract substantial levies when bundled with other works.
Pattern to watch: A building's first 5-10 years of life often run on minimal maintenance because everything's new. Years 10-20 are often when accumulated maintenance demands hit and special levies emerge.
What about short-term letting and by-laws?
A growing area of OC activity is short-term letting (Airbnb, Stayz) and the by-laws that restrict it.
Why this matters in Victoria 2026:
Many Victorian OCs have introduced by-laws restricting or prohibiting short-term letting in recent years — typically defining short-term as letting for periods under 60 or 90 days. These by-laws affect investor buyers planning Airbnb yield. The Victorian 7.5% short-stay levy from 1 January 2026 also affects the yield calculation.
What needs checking:
- Current by-laws covering letting periods, frequency, and conditions
- Recent amendments and dates
- Whether the by-laws prohibit, restrict, or permit short-term letting
- Enforcement history (some by-laws exist but aren't enforced)
For investor buyers: By-law review is essential pre-contract. A purchase made for short-term letting yield in a building with restrictive by-laws can undermine the entire investment thesis.
A 2024 South Yarra matter: An investor reviewing a Section 32 on a $780K apartment in a 2019-built Toorak Road high-rise. The investment plan was Airbnb yield. Form 23 showed standard levies. Our review pulled the OC rules and recent minutes — a by-law had been passed 14 months earlier prohibiting any letting under 90 days. The buyer's entire investment model depended on Airbnb yield that was no longer permitted. Buyer walked. Saved $780K from a property that wouldn't have supported the original investment thesis.
What if the owners corporation isn't well-managed?
OC governance varies widely. Some buildings have engaged committees, competent managers, healthy maintenance funds, and proactive defect management. Others are dysfunctional — disengaged committees, contested votes, thin maintenance funds, deferred maintenance.
Signs of a well-managed OC (visible in minutes):
- Regular committee meetings with substantive agendas
- Adequate maintenance fund balance relative to building age and size
- Quotes obtained and decisions made proactively
- Insurance claims processed efficiently
- Disputes resolved without escalating to VCAT
Signs of a poorly-managed OC (visible in minutes):
- Committee meetings cancelled or unattended
- Maintenance fund depleted or below typical benchmarks
- Major defects discussed for months without resolution
- Multiple VCAT applications among lot owners or against the OC
- Frequent committee membership changes
- Insurance issues — declined claims, lapsed policies
For buyers, OC governance quality affects both the lived experience of the building and the value of the asset. A defective OC can be improved (through engagement and good management) but it takes time and effort.
What's the typical owners corporation special levy in Melbourne?
There's no "typical" special levy — they vary enormously by building age, size, and defect type. Indicative figures from matters in 2024-2025:
| Defect type | Typical per-unit special levy range |
|---|---|
| Minor cosmetic / common-area refurbishment | $2,000-$8,000 |
| Re-roofing / re-pointing (older buildings) | $5,000-$15,000 |
| Lift modernisation | $8,000-$25,000 |
| Balcony waterproofing rectification | $10,000-$30,000 |
| Major façade rectification | $20,000-$80,000 |
| Cladding rectification (post-Grenfell programs) | $15,000-$120,000 |
| Combined major works (cladding + waterproofing + façade) | $50,000-$200,000+ |
For premium Toorak, Brighton, and South Yarra buildings, the per-unit figures often sit at the higher end of these ranges because the buildings are physically larger and the rectification standard is higher.
Practical reality: Major defect rectification can take 3-5 years from first identification to final levy. A buyer purchasing during that period gets the levy whenever it's struck — sometimes years after they bought.
What does an owners corporation search cost?
| Item | Typical cost |
|---|---|
| Form 23 certificate fee (paid to OC) | $156 (2026 cap, indexed annually) |
| Pull of OC minutes (paid to OC if charged) | Usually $0-$100 depending on OC manager |
| Conveyancer's analysis of Form 23 and minutes | Included in $660-$990 fixed conveyancing fee at Fogarty Oliver Rothschild |
| Pre-contract OC review only (without proceeding to full conveyancing) | $440 (credited against full conveyancing fee if you proceed) |
At Fogarty Oliver Rothschild, the OC deep-dive is included in the standard fixed fee — no upcharge for the minutes pull and analysis.
What goes wrong without proper OC review?
A 2024 Hampton matter: A buyer used an online conveyancer ($440 fee) for a $780K apartment in a 2017-built Hampton building. Form 23-only review confirmed annual levies and maintenance fund balance. After settlement, a $14K special levy landed for balcony waterproofing rectification — work that had been discussed at three OC meetings over the previous 12 months. Cost differential between Form 23-only and full OC search: $0 (both should be included). Cost of the surprise levy: $14K.
A 2025 Albert Park matter: A buyer reviewing a Section 32 on a $920K Beach Street apartment in a 2018-built building. Form 23 clean. Our review of 24 months of minutes disclosed pending balcony waterproofing rectification with $25-$40K per unit special levy expected. Buyer renegotiated by $35K and proceeded.
A 2024 Toorak matter: A buyer reviewing a Section 32 on a $2.6M two-bedroom apartment in a 2017-built premium St Georges Road development. Form 23 showed standard premium-building annual levies. Recent minutes disclosed the OC was in mediation with the developer over cladding rectification work, with special levies estimated at $80-$120K per unit over the next 24 months. Buyer renegotiated by $95K to reflect the disclosed risk.
(Client names withheld. Identifying details modified.)
Each preventable with proper minutes review.
How long does an OC search take?
| Stage | Typical timeframe |
|---|---|
| Form 23 request to OC | 5-10 business days |
| OC minutes pull request | 2-5 business days (sometimes longer) |
| Conveyancer's analysis | 1-3 business days from receipt |
For urgent matters (auctions), the OC search can sometimes be expedited but isn't always possible — Form 23 turnaround depends on the OC manager. For auction purchases, where pre-contract review is essential, ensure your conveyancer requests the Form 23 immediately and chases urgently.
What if I'm selling an apartment?
For sellers, the OC search is part of preparing the Section 32 vendor statement. The Form 23 must be attached. Recent minutes don't have to be attached, but if there are material OC issues, disclosure may be required.
Seller-side considerations:
- Order Form 23 early — it can take 5-10 business days
- Pay any outstanding fees before the Form 23 is requested — outstanding fees appear on the certificate and can scare buyers
- If there are known major defect issues, discuss disclosure with your conveyancer pre-listing
- Be prepared for buyer-side questions about anticipated special levies — having a clear position helps the sale proceed
At Fogarty Oliver Rothschild, seller-side OC search is included in the standard $660-$990 fixed conveyancing fee.
Frequently asked questions
What is a Form 23 in Victoria?
A Form 23 is the statutory owners corporation certificate prescribed under the Owners Corporations Regulations 2018. It discloses the OC's fees, special levies, fund balances, insurance, and any current notices or proceedings. The OC must provide it on request, with a fee capped at approximately $156 (2026, indexed annually).
Why isn't Form 23 enough?
Form 23 is a snapshot in time — it shows what's been formally struck or finalised. It doesn't show what's being discussed at OC meetings. For newer buildings working through defect issues, pending special levies can be discussed for months or years before they're formally struck. Pulling OC minutes catches what Form 23 misses.
How do I get OC minutes?
As a prospective purchaser, you can request OC minutes through your conveyancer. The OC manager typically provides 12-24 months of minutes (committee meetings, AGMs, EGMs) on request. Some OCs charge a small fee for the pull; many don't.
What if the seller refuses to allow OC minutes pull?
This is unusual. Lot owners are entitled to OC records; prospective purchasers typically access them through the seller or seller's conveyancer. If access is being refused, that itself is a signal worth investigating. A senior-lawyer review can advise on options.
What's the most common issue with newer Melbourne apartments?
Building defects — particularly cladding rectification (post-Grenfell programs), waterproofing defects (balconies, bathrooms, basements), and façade issues. Many mid-2010s and early-2020s buildings are working through these. The total per-unit special levy can range from $15K to $120K+ depending on building.
What's the cladding situation in 2026?
Cladding Safety Victoria continues to work through buildings identified in the post-Grenfell audit. Some buildings have completed rectification; others are still in process. Funding mixes private special levies, Cladding Safety Victoria support, and developer claims. The status of any specific building should be checked in OC minutes.
Do all apartments have an owners corporation?
Strata-titled properties have an owners corporation. A standalone house on its own title typically doesn't (unless it's part of a body-corporate-managed development like a gated community). For Victoria, the Owners Corporations Act 2006 governs.
What's the difference between "owners corporation" and "body corporate"?
In Victoria, "owners corporation" replaced the older term "body corporate" when the Owners Corporations Act 2006 commenced. Both refer to the same concept. Older documents may still use "body corporate."
Can I review OC minutes before making an offer?
Yes — and you should, especially for newer buildings. Pre-offer OC search is increasingly common in the Melbourne market, particularly for substantial purchases. Your conveyancer can arrange it.
How long should I review OC minutes for?
Standard is 12-24 months. Some matters benefit from longer review (e.g. 36 months for substantial defect investigations). For newer buildings (under 7 years old), all minutes since registration are often manageable in volume.
Ready to discuss your OC search?
The first 15 minutes are free.
📧 elisa@fogartyoliverandrothschild.com.au
📍 84 Chapel Street, St Kilda VIC 3182
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Hours: Monday to Friday, 9am–5pm. After-hours for auction weeks.
Written and reviewed by Elisa Rothschild BA/LLB — Principal Lawyer, Fogarty Oliver Rothschild. Admitted to legal practice in Victoria. Conveyancing and property law in Melbourne since 2012. Last reviewed 27 May 2026.
This guide is general information about Victorian conveyancing, not legal advice for your specific transaction. For advice on your matter, book a free 15-minute consultation.