Sinking Fund Budget Report
The Statutes Amendment (Community and Strata Titles) Act 2012 came into effect in October 2013 and mandates Sinking Fund Budgets for all community corporations.
Preparing and implementing a Sinking Fund Budget Report allows owners to predict and budget for future maintenance expenses for the property. Failure to anticipate the inevitable costs of major works on buildings will only serve to financially burden the owners and a Sinking Fund Budget Report can highlight to corporations what will need to be done and when the maintenance or replacement work is due.
Solutions in Engineering can prepare a sinking fund forecast for your body corporate that will ensure owners funds are used in the most efficient manner to keep levies as low as possible whilst ensuring the proper maintenance of the property. Solutions in Engineering has qualified and experienced inspectors that are willing to work with the committee to prepare a plan that owners are happy to implement. For more information, request an information pack today.