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In two decades, the number of Victorians living in apartments has quintupled, and the state’s peak real estate body says that has greatly increased the “responsibilities and impact” of those managing strata properties.
In a recent submission to the office of the state’s Minister for Consumer Affairs, the Honourable Gabrielle Williams, the Real Estate Institute of Victoria (REIV) proposed the introduction of mandatory Certificate IV or diploma qualifications for owners corporation managers and directors of owners corporation management businesses.
The industry body reasoned that the sector-specific minimum qualifications should “appropriately reflect the high level of responsibility, financial expertise and real estate oversight required from people working in owners corporation management”.
The REIV also emphasised that owners corporations are set to play a “key role” in the supply of new homes as part of the densification strategy outlined in the Victorian government’s Housing Statement target to build 800,000 homes statewide by 2034.
Speaking on the importance of the reform, the REIV CEO Kelly Ryan commented that the “growing role of owners corporations in Victoria’s housing ecosystem creates an impetus to improve the current legislation”.
The organisation highlighted that the number of Victorian occupants in strata-titled properties ballooned from 27,190 in 2001 to 137,063 in 2021 and continues to climb. Ryan stressed that the “responsibilities and impact” of owners corporation managers in the state’s housing ecosystem have grown alongside this increase.
“As the sector grows, a more modern framework is needed to ensure those working as owner corporation managers are appropriately qualified to perform their required duties,” she said.
To assist owners corporations to meet the proposed standards amid the sector’s growth, REIV also called for transitional arrangements for personnel already working in the sector and the implementation of measures to help qualified real estate professionals to transition to owners corporation management.
“The REIV is committed to working with our members, authorities and the owners corporation management industry to deliver the recommendations we’ve put forward,” Ryan said.
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