Decide what to buy

Buying an apartment or off the plan in Victoria

Levies and the owners corporation's funds, what to read before you buy, and the off-the-plan rules on deposits, sunset clauses and changes in Victoria, each checked against Consumer Affairs Victoria and the Victorian Government.

The short answer

In Victoria the owners corporation certificate comes attached to the Section 32 vendor statement and shows current fees, insurance, maintenance and proposed works, fee increases and legal claims. (Consumer Affairs Victoria, verified 22 Oct 2026) Special fees more than double the annual fees need a special resolution of the owners. (Consumer Affairs Victoria, verified 22 Oct 2026) Off the plan, the deposit can be no more than 10% of the price, (Consumer Affairs Victoria, verified 22 Oct 2026) and you can end the contract and get it back if the plan of subdivision isn't registered by the contract date or the 18-month default. (Consumer Affairs Victoria, verified 22 Oct 2026)

Rules as at 22 October 2026, from Consumer Affairs Victoria and the Victorian Government pages. They change: check the official page before you rely on one.

Fees, special fees and the maintenance fund

Owners pay annual fees according to their lot liability, from a budget the owners decide at the annual general meeting. (Consumer Affairs Victoria, verified 22 Oct 2026)

Special fees cover extraordinary or unexpected spending. If the proposed special fees are more than double the annual fees, a special resolution is required. (Consumer Affairs Victoria, verified 22 Oct 2026)

Interest on overdue fees can be charged only if the owners corporation has voted to charge it, at no more than the rate the Penalty Interest Rates Act 1983 allows. (Consumer Affairs Victoria, verified 22 Oct 2026)

Since 1 December 2021 owners corporations have been sorted into five tiers by their number of occupiable lots, replacing what used to be called prescribed owners corporations: tier 1 has more than 100, tier 2 has 51 to 100, tier 3 has 10 to 50, tier 4 has 3 to 9, and tier 5 is a two lot subdivision or services only. At the end of each financial year a tier 1 owners corporation must have its financial statements audited, and a tier 2 must have them reviewed by an independent member of CPA Australia, the Institute of Public Accountants or Chartered Accountants Australia and New Zealand; tiers 3 to 5 may choose either. (Consumer Affairs Victoria, verified 23 Oct 2026)

Tier one and tier two owners corporations must have a maintenance plan, covering major capital items for repair and replacement over the next 10 years, and a maintenance fund. (Consumer Affairs Victoria, verified 22 Oct 2026)

What to read before you buy

The owners corporation certificate attached to the Section 32 statement has details of current fees, insurance cover and maintenance works carried out, and of any proposed works, fee increases and potential or existing legal claims. If there is a maintenance plan, there must be a maintenance fund. (Consumer Affairs Victoria, verified 22 Oct 2026)

Buying off the plan

The deposit can be no more than 10% of the contract price, and within that limit it's negotiable. The contract must carry a warning notice about the deposit. (Consumer Affairs Victoria, verified 22 Oct 2026)

If the plan of subdivision isn't registered by the time in the contract, or by the default of 18 months, you can end the contract and get your deposit back. (Consumer Affairs Victoria, verified 22 Oct 2026)

Consumer Affairs Victoria lists the risks as unexpected changes to the plans or specifications, finishes that differ from what you expected, and limited recourse with the builder in a dispute, because the developer, not you, contracts with the builder. (Consumer Affairs Victoria, verified 22 Oct 2026)

We couldn't check Victoria's sunset-clause rules against the Sale of Land Act 1962 itself: legislation.vic.gov.au refuses automated access, so this page doesn't state them. Ask your conveyancer or lawyer what the contract's sunset date lets the developer do before you sign.

Defects and building warranties

From 1 July 2026 Victoria is moving from Domestic Building Insurance to the Home Warranty scheme, for building contracts over $20,000 and 3 storeys or less; cover includes lost deposits, incomplete work and defective work. (Victorian Government, verified 22 Oct 2026)

Cladding Safety Victoria's website also refuses automated access, so this page doesn't describe its program. Ask the owners corporation whether the building has combustible cladding and how any rectification is being paid for.

More on apartments

Every state side by side: buying an apartment or off the plan, state by state. Delora's Victorian guides go further on reading an owners corporation certificate and owners corporation due diligence; for cooling-off in general, see the cooling-off period.

Practical checklist

Before you buy an apartment in Victoria

• Read the owners corporation certificate in the Section 32: fees, insurance, works, proposed fee increases and legal claims
• Check whether the owners corporation has a maintenance plan and fund, and what the plan says is due
• Ask whether a special fee has been proposed or raised, and what share falls on the lot
• Off the plan: check the deposit (no more than 10%) and the registration date in the contract
• Ask your conveyancer how the contract's sunset clause works
• Have a conveyancer or lawyer review the contract before you sign

Questions for a professional

• Does the owners corporation certificate show proposed works or legal claims I should price in?
• Is the maintenance fund enough for the work in the maintenance plan?
• Off the plan: what happens to my deposit if the plan isn't registered in time?

Official resources

• Consumer Affairs Victoria: Buying off-the-plan
• Consumer Affairs Victoria: Buying an apartment or unit checklist
• Consumer Affairs Victoria: Owners corporation fees

Sources and methodology

• Buying an apartment or unit - checklist | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 22 Oct 2026). Licence: CC BY 4.0
• Fees - owners corporations | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 22 Oct 2026). Licence: CC BY 4.0
• Buying off-the-plan | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 22 Oct 2026). Licence: CC BY 4.0
• Tiers of owners corporations | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 23 Oct 2026). Licence: CC BY 4.0
• Owners corporation maintenance plan | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 22 Oct 2026). Licence: CC BY 4.0
• Better domestic building insurance | vic.gov.au — Victorian Government (retrieved 22 Oct 2026). Licence: CC BY 4.0

Figures on this page are drawn from Delora's local knowledge graph, refreshed from these primary sources and checked for changes on a regular schedule. If a figure here looks out of date, the official source above is always the authority — please let us know.