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What am I responsible for as the owner of a property in an OMC?

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What am I responsible for as the owner of a property in an OMC?


You become a member of the OMC when you purchase a unit in a multi-unit development. This occurs automatically, indicating that you have legal rights and responsibilities.

Your solicitor will obtain a copy of your membership or share certificate when you purchase your home. This is a crucial legal document that validates your membership in the OMC as the owner of a unit.

You have a say in how the common areas are managed as a member of the OMC. If you are chosen as a Director of the OMC, you will be involved in the company’s management.
 

You have several responsibilities as a member of an OMC, including:
 
– To pay Management Fees
– To pay Sinking Fund Contributions
– To be subjected to House Rules


OMC

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