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It’s not about getting free security surveillance from a neighbour. We had an owner, who used the unlawfully installed security camera to cherry pick bits of footage and use them as evidence for an Apprehended Personal Violence Order application against a neighbour. (The application was dismissed.)
The owner of the security camera was frequently violating by-laws and making life unpleasant for the neighbours. All of this would have been captured on the video stream. The owner would never be obliged to show self-incriminating footage to the police because they own the security camera.
If you really want to have security cameras, they must be owned by the owners corporation. This article from Kerin Benson Lawyers touches on the need to have a policy of restricting access to that video feed. If that material is not secured, anyone could be watching footage of our children.