ContractSnapWhat is this certificate?
For a Victorian apartment, the owners corporation certificate is usually part of the Section 32 vendor’s statement. It summarises information about the owners corporation and the particular lot. Read it with its attachments, the contract and any more recent records. A certificate is a snapshot at the time it was prepared, not a guarantee that nothing has changed. Consumer Affairs Victoria explains what the certificate must contain.
1. Check the lot and every owners corporation
Confirm the lot and plan details match the apartment, car space and storage rights you expect. Some buildings have more than one owners corporation. If so, check the certificate and fees for each one; a single figure may not represent the total cost. Ask your conveyancer to confirm which owners corporations apply to the property.
2. Read fees, arrears and special levies separately
Find the current quarterly or annual fees for this lot, the date fees are paid to, and any unpaid fees or charges. Then look for special fees or levies, including when they were approved and when payment is due. A regular fee, an existing arrear and a special levy answer different questions. Ask your conveyancer how any outstanding or upcoming amounts will be handled in the sale and settlement.
Compare the stated fees with the latest budget and financial statements if available. For a broader comparison between apartments, see how to compare owners corporation fees.
3. Look for work that could cost more
The certificate should identify repairs, maintenance or other work that may bring extra charges beyond amounts already budgeted or approved. Note whether a project is only being investigated, has been approved, or has a priced levy. Ask for recent meeting minutes, quotes and the maintenance plan where relevant. An unresolved defect or planned repair is a question to investigate, not a confirmed bill of a particular amount.
4. Check insurance, then request the policy details
Read the insurance cover described in the certificate and check the dates on any attached evidence. The short description may not tell you the excess for a particular claim, every exclusion, or exactly what is covered inside a private lot. Request current policy documents or a schedule and ask your insurer or adviser about any cover you may need yourself. Consumer Affairs Victoria’s insurance guide explains the different types of owners corporation cover.
5. Scan funds, liabilities and disputes
Check the total funds held by the owners corporation alongside its disclosed liabilities. The certificate should also cover relevant contracts or agreements affecting common property, outstanding notices or orders, and legal proceedings or circumstances likely to lead to them. A large bank balance alone does not settle whether future spending is affordable; look at the budget, planned work and obligations together.
6. Read the attachments
The certificate should be accompanied by the registered owners corporation rules, the prescribed advice statement for buyers and lot owners, the resolutions from the last annual general meeting, and a statement about inspecting the register. Rules may affect pets, renovations, parking and common property. AGM resolutions show decisions, but may not explain all the discussion behind them. Ask for the minutes and other recent records when a decision or issue needs context.
7. Check the date before relying on it
Find when the certificate and its attachments were prepared. A Section 32 can have been assembled well before the sale, so fees, insurance, works or disputes may have changed. Consumer Affairs Victoria advises buyers to request a new certificate before settlement or inspect the owners corporation register and records. Ask your conveyancer what current information you need before signing as well as before settlement.
A worked example: turn entries into questions
Fictional figures for illustration only. Your contract and owners corporation records may look different.
| Certificate entry | What it tells you | Question to ask |
|---|---|---|
| Annual fees: $3,600; paid to 30 September | The stated recurring fee and last paid-through date. | Are any amounts now unpaid, and have fees changed since the certificate date? |
| Special levy: $1,200, approved and due in December | A separate charge with a stated payment date. | Who is responsible for it under the sale terms, and is more funding expected? |
| Roof repair under assessment | Possible future work without a confirmed final cost. | Are there newer reports, quotes, minutes or decisions? |
| Insurance policy ends in November | The attached evidence may soon be outdated. | Can we obtain current policy details, including relevant excesses and exclusions? |
Use the certificate as a starting point
ContractSnap reviews a contract of sale PDF and presents a snapshot with key findings and detailed topics. It can help you spot certificate entries to investigate, but it can miss or misinterpret information and cannot confirm that older documents are still current. Check the original records and discuss important questions with your conveyancer or solicitor.
General information for Victorian apartment buyers. This guide is not legal, financial or insurance advice. Check the current documents and obtain advice for your own purchase. Source: Consumer Affairs Victoria — owners corporation records and certificates.