Unit title

A unit title is a form of ownership used for apartments, townhouses and multi-unit developments, where the owner holds their individual unit outright along with accessory units such as a car park or storage, plus an undivided share of the common property.

What comes with it

Every unit title owner is automatically a member of a body corporate, which manages the common property, arranges building insurance, sets levies and maintains a long-term maintenance plan.

Why investors should care

The levy is a real and ongoing cost that must be in your yield calculation. Levies vary enormously — a simple two-unit development might be a few hundred dollars a year; a high-rise with lifts, a pool and cladding remediation can run to many thousands.

What to check during due diligence

• The pre-contract and pre-settlement disclosure statements, which the vendor must provide
• Body corporate minutes and financial statements
• The long-term maintenance plan and how well the fund is provisioned
• Any current or proposed special levies
• Whether there is weathertightness or cladding remediation history

Common misunderstanding

A low levy isn't necessarily good. It can mean the long-term maintenance fund is underprovisioned, and that a special levy is coming. A well-funded body corporate with a higher levy may be the better investment.

Body corporate rules can restrict letting. Some have rules affecting short-term rental or pets. Check before you buy on the assumption of an Airbnb strategy.

Related terms

Sources

• Unit Titles Act 2010

Last reviewed: 1 August 2026 · ---

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