I'm not surprised that people act the same way in the US and Australia. People are people after all.
In my country, housing associations are very common, but they have a professional, non-profit organization backing them (nationally/regionally). It's a system that was established almost a century ago. It's usually run by the owners themselves (democratically elected board) or the partly by the association. The board gets help from the association to collect fees, financial management, legal assistance, etc.
We've established laws that gives owners rights and duties, and maintenance is obligatory. The local associations can create their own policies and rules, but they have to abide by the law. The owners/shareholders keep their boards in line, but the board also has to balance people's desire for lower monthly fees or new features.
This means older buildings can have a common debt in the millions or almost nothing, as they constantly renew and maintain the apartments (replacing bathrooms in particular) or the building's structure/exterior, parking garages, EV chargers, etc. Maintenance fees are usually affordable considering they cover insurance, cable TV/Internet, cleaning, maintenance and so on.