Essential Guide to Strata Finance – QLD
Firstly, it is important to know what strata loans are: What are Strata Loans? In certain situations, a Body Corporate may encounter unexpected costs for emergency repairs or major remedial works. Ideally, there should be sufficient funds in the Sinking Fund. Also known as a Capital Expenditure or Maintenance Fund, to cover such costs. However, […]
Capital Works Fund Forecast Common Q & A
What is a Capital Works Fund: An Owner’s Corporation’s Capital Works Fund (CWF) is effectively a deposit which exists to allow an OC to pay for repairs and maintenance of a building. Who is the Capital works Fund Plan prepared by and how is it prepared? A quantity surveyor typically prepares the capitol works […]
Maintenance Plan Common Q & A
What is a Maintenance Fund: An Owners Corporation’s Maintenance Fund is effectively a “savings account” which exists to allow an Owners Corporation to pay for major repairs and maintenance of a building, in accordance with the scheme’s Maintenance Plan. Who is the Maintenance Plan prepared by and how is it prepared? A quantity surveyor typically […]
Sinking Fund Forecast Common Q & A
When it comes to sinking funds, we have heard it all. From “why do I need a sinking fund; my building isn’t sinking” and I guess you can imagine the rest! What is a Sinking Fund: A Body Corporate sinking fund (SFF) is effectively a deposit which exists to allow a Body Corporate to pay […]
