apartment buildings in australia are typically managed by a body corporate or "owners corporation" in which owners pay a monthly fee to provide for common maintenance and help cover future repair. many apartments are owned through strata title. due to legislation, australian banks will either apply loan to value ratios of over 70 per cent for strata titles of less than 50 square metres, the big four australian banks will not loan at all for strata titles of less than 30 square metres. these are usually classified as studio apartments or student accommodation. australian legislation enforces a minimum 2.4m floor-ceiling height which differentiates apartment buildings from office buildings.