Body Corporate
The owners' entity managing strata buildings — and fees reduce borrowing capacity.
What is Body Corporate?
A body corporate (called an owners corporation in Victoria) is the legal entity that manages common property in a strata-titled building — like apartments or townhouses. Every owner is automatically a member and pays quarterly fees.
Why it matters for you
Body corporate fees can range from $500 to $3,000+ per quarter depending on amenities (pool, lifts, concierge). Lenders assess these fees as ongoing expenses that reduce your borrowing capacity. Always request a strata report before buying.