The owners’ corporation (or body corporate in some states) is a legal entity created by registration of the strata plan. It is separate from its members who are the owners of the individual lots.

In jurisdictions other than New South Wales, Victoria and Western Australia, the legislation assumes that each strata scheme will contain some common property. Common property will include driveways, shared lawn and garden areas and in the instance of large, multi-lot developments, swimming pools and tennis courts. In most jurisdictions, ownership of common property is vested in the owners’ corporation. However, irrespective of whether the common property is vested in the owners’ corporation, the owners’ corporation must generally administer the strata scheme and maintain the common property for the benefit of its members.