Why Do You Need a Sinking Fund?
June 10, 2019One of the benefits of living in a Body Corporate is the fact that everyone contributes to the future upkeep of the property. This is done through regular savings. What is a sinking fund? A Body Corporate’s sinking fund is effectively a deposit which exists
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Strata Dictionary
February 15, 2019Strata living can be a confusing world, from the many terms to the constant changes in legislation and the different terminology around the country. We have taken some of the most common terms that you may need to know whilst you are living in a
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Sinking Funds – Queensland
May 4, 2017A bodies corporate sinking fund is effectively a deposit which exists to allow a body corporate to pay for repairs and maintenance of a building. The money in a sinking fund can be spent on several different things. Firstly, it can be spent on anticipated
Read moreMaintenance Funds – Victoria
May 4, 2017An owner’s corporation’s maintenance fund is effectively a deposit which exists to allow an owners corporation to pay for repairs and maintenance of a building, in accordance with the scheme’s maintenance plan. The money in a maintenance fund can be spent on several different things.
Read moreCapital Works Funds – NSW
May 4, 2017An owners corporation’s capital works fund is effectively a deposit which exists to allow an OC to pay for repairs and maintenance of a building. The money in a capital works fund can be spent on several different things. Firstly, it can be spent on
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How To Prepare A Budget
August 29, 2016Preparation of a budget is one of the most important tasks a committee must undertake in their year to year operation. The following are general principles which strata communities may consider when preparing their budgets. The previous year end accounts are reviewed prior to commencing preparation of
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Sinking Funds Explained – Queensland
May 4, 2016What is a sinking fund? A body corporate’s sinking fund is effectively a deposit which exists to allow a body corporate to pay for repairs and maintenance of a building. The money in a sinking fund can be spent on several different things. Firstly, it
Read moreSinking Funds Explained – NSW
May 4, 2016What is a sinking fund? An owners corporation’s sinking fund is effectively a deposit which exists to allow an OC to pay for repairs and maintenance of a building. The money in a sinking fund can be spent on several different things. Firstly, it can
Read moreMaintenance Funds Explained – Victoria
May 4, 2016What is a maintenance fund? An owner’s corporation’s maintenance fund is effectively a deposit which exists to allow an owners corporation to pay for repairs and maintenance of a building, in accordance with the property’s maintenance plan. The maintenance plan is a 10-year plan which
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Working with Committees – Prioritising Improvement Budgets
February 22, 2016In 2015 SSKB surveyed Resident Unit Manages to ask them what their top five challenges were. The answer came back – working with body corporate/owners corporation committees to approve budgets for building improvements. We asked Chris Nezmah, general manager of Star BMS for practical tips
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How Much Is Enough?
November 5, 2015Maintenance funds, or sinking funds as they’re known in Queensland, are a form of insurance. It means a strata community has enough money in the bank to pay for future repairs, maintenance and improvements to your most important asset – your home! These funds are a
Read moreTop 4 Aspects of Projects Achieving Sales in Today’s Tight Market
March 1, 2012Common themes are emerging amongst projects that are going to market for sales and which are actually achieving results in today’s though market. Have you ever wondered what the secret ingredients are? Well, no need to wonder anymore as SSKB … Continue reading →
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