The responsibility of an owners corporation is singular: to manage the common property. All apparently singular responsibilities have many other facets on closer examination. This is no exception. When broken down, the responsibility of an owners corporation regarding common property is:
- Keep it safe
- Keep it clean
- Keep it repaired and maintained
- Keep it insured, and
- Keep it used in an orderly way
To do these things of course requires money. An owners corporation funds the costs of communal ownership of common property by setting budgets, striking and collecting levies and keeping books and records. But these are matters incidental to the core responsibility of an owners corporation: to manage the common property.