What is it?
This is a maintenance plan that sets out:
- The major capital items anticipated to require repair & replacement within the next 10 years or otherwise as specified by the client
- The present condition or state of repair of those items
- When those items or components of those items will need to be repaired or replaced
- The estimated cost of the repair and replacement of those items or components
- The expected life of those items or components once repaired or replaced
- Any other prescribed information.
Why would you need it?
- To ensure your Owners Corporation is meeting its legal obligations as per the Owners Corporations Act 2006 and Owners Corporations Regulations 2018. recommendations and a forecast into financial expenses that may be expected in the future.
- To ensure that an expert with the required knowledge can provide recommendations and a forecast into financial expenses that may be expected in the future.
- Allows the Owners Corporation to prepare to save funds now for unexpected out of pocket expenses that may arise in the future. Providing some financial protection, in a climate with increasing pressures on costs of living.
How do we put this together and support your OC?
- We will provide and obligation free quote and a copy of a sample Maintenance Plan for the committee’s review and consideration.
- We will then work with the OC manager to obtain all the documents and information necessary to put together the report, to remain as hassle free for the committee as possible.
- We will attend site for the purpose of an inspection of all Common Property areas.
- Your Maintenance Plan will be usually completed within 5-10 business days of the inspection.
- Buildspect can provide a brief to the OC Committee if required.
How long will it take?
This is usually completed within 5 to 10 business days of the inspection.
Who is it for?
- Owners Corporations/Body Corporates and their committees
- Housing associations