You could also look at the posts here which contain the formula for calculating the minimum compensation you should pay the owners corp.
Just to be clear, this phrase in Lady P’s post above “written consent of each owner on whom the by-law provides the right or special privilege” means you. You have to consent in writing to the terms of the property rights by-law.
Just to summarise:
You will need a property rights by-law which will require the approval of at least 75 per cent of votes cast at a general meeting (that’s 75 percent of votes, not 75 percent of owners).
The property rights by-law should say that you agree to take over maintenance of any affected common property
You should be offering some sort of compensation and to agree to an upwards adjustment of your unit entitlements
You should also be offering to pay the OC’s costs
You will need council planning approval
You should also include a schedule of works that says when the work will be done (times of day, estimated duration of project etc) and include measures for removal of rubble and protection to common property during work.
Don’t forget that the other owners are under no obligation to agree to this. However, if you do the right thing and bend over backwards to make it all worth their while, you could force their hand at a tribunal if they say no.