Yes, you have probably that we here at Strata Management Consultants have been using these terminologies interchangeably. We apologise for the confusion.
- In NSW, Strata Title was invented in 1961 as a better legal means of ownership when it came to apartments (replacing company title and stratum title);
- Strata Title has since widespread in other states in Australia and internationally in many countries;
- In NSW, ‘Strata Scheme’ is the legal entity that owns the common property in a building and the strata manager / strata management company is the entity engaged to undertake the strata management;
- In QLD, ‘Body Corporate’ is the legal entity that owns the common property in a building and the body corporate manager / body corporate management company is the entity engaged to undertake the strata management;
- In Victoria, since the inception of the Owners Corporation Act 2006, ‘Owners Corporation’ is the legal entity that owns the common property in a building and the owners corporation manager / owners corporation management company is the entity engaged to undertake the strata management;
- We also happen to speak to a lot of people that will use ‘body corporate strata’, ‘OC manager’, or simply ‘strata’ – so terminology can vary depending on who you’re speaking to. We hope the above sheds some light on the matter.
