Monday 11 February 2013

Why do Apartments need to have a Sinking Fund Plan??


All buildings need to be maintained regularly to retain value and stop mior damage becoming major building issues.

Developing a 10 year sinking fund plan means that future repairs and maintenance are well anticipated in advance.

The Owners Corporation can then agree on the best way to raise levies to cover these future costs.

E.g Painting the Building, new Gutters, New Security intercoms, New Roof or new Fences at the Strata Complex
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