Concorde Tower

Owners Association

1. What is an Owners Association?

All owners collectively within a Jointly Owned Property are referred to as the "Owners Association". An Owners Association is a separate legal entity from the individual owners just as a company is a separate legal entity from its shareholders.

2. Why do we need an Owners Association?

The primary purpose of an Owners Association is to manage, operate and maintain the common property and facilities within the Jointly Owned Property, under the direction of all Owners. Prior to the Jointly Owned property Law of 2007, the developer of a building maintained control of the entire and the service chargers budget. Now, Owners have control of the costs and services provided in the building, free of the influence of the Developer.

3. Who is responsible for maintaining the Common Areas of our building?

In simple terms, all Unit Owner's are responsible for maintaining the common areas of a Jointly Owned Property. The responsibilities of the Owners are set out in the Jointly Owned Property Declaration.

The Owner's Association elect a Board of unit owners and appoint an Owner's Association Manager at their first Annual General Assembly. The Manager acts only at the instruction of the Board. Under the Boards direction, the Manager is responsible for the administration and management of the common areas. The costs pertaining to the administration and management of the common areas, and arranging building insurance are paid by all the Unit Owner's by way of annual service charges.

4. What are common areas?

Common areas, which are shown on the site plan in the Jointly Owned Property Declaration are those parts of property designated for common use by unit owners and occupiers.

The common areas may include, but are not limited to: hallways, lobbies, stairwells, lifts and lift wells, roof, driveways, common area car parks (as opposed to individual allotted car park spaces for unit owners). They also cover the services infrastructure and equipment such as air conditioning, cabling, electrical, telecommunications, computer and data service utilities, security systems, plumbing, drainage systems, mail delivery systems. Carpark areas, roads, paths and ramps and the recreational and leisure facilities such as gardens, pools, gymnasiums, and recreational rooms - are also common areas.

5. More Information on Owners Associations