Long Term Maintenance Plan
To maintain and protect any building asset, it is essential that an effective maintenance plan is produced that not only ensures the building value is maintained / raised but also it ensures that the quality of the internal living environment is sustained.
The planned maintenance of limited lifespan serviceable building components gives the owners and property managers sufficient time to prepare for the works and, more importantly, to secure the necessary funding.
Use of a structured maintenance plan will also help protect the life expectancy of various components saving money in the long run whilst highlighting any hidden expenditure that that may be critical to ensuring the value of the asset is not reduced.
The Unit Titles Act 2010 requires Body Corporates to maintain and repair common property together with any building elements infrastructure which are shared by, or affect, 2 units or more. This will need to be properly budgeted for and assessed, requiring knowledge and awareness of the property, the building structure, claddings, finishes and services.
If you require assistance with protection of your asset or wish to simply ensure compliance with the recent mandatory changes to the Unit Titles Act, please don't hesitate to contact us.