What does the company own?

The OMC is the legal right owner of the common areas of the development on behalf of the owners of the property within and they are responsible for the upkeep of the common areas. Because it “owns” a share in each property, the OMC is also a party to all sales of units in a development. The OMC cannot legally stop a unit from being sold or bought, but it can take legal action against you if you don’t pay your management costs.