Section 75A of the Strata Schemes Management Act 1996 requires all owners corporation to prepare 10-year sinking fund plans.  The purpose of the sinking fund plan is to prepare an estimate of anticipated major expenditure to be met from the sinking fund over a 10-year period.

The plan is to be reviewed and (if necessary) adjusted on a five yearly basis.

Scope of Works

An inspection of the property is conducted from floor areas and only in areas of common property.  The specific works performed are:

1)  An external inspection of the property is carried out;

2)  A detailed Maintenance Schedule is developed noting all building maintenance issues.  These maintenance issues are then prioritised and costed;

3)  Other general building issues are identified and noted;

4)  A 10 Year Sinking Fund budget is developed.