A Capital Works Plan, formally known as a Sinking Fund Forecast, is a document that outlines the anticipated future expenses required to maintain and upgrade the common property of a strata scheme over 10 years. It serves as a roadmap for managing the financial aspects of maintaining and preserving shared assets.
Who prepares the Capital Works Plan?
The Capital Works Plan is prepared by a qualified quantity surveyor. Our expertise ensures accurate assessments of the condition of common property, identification of maintenance requirements, and estimation of associated costs.
How does a Capital Works Plan work?
A Capital Works Plan is an independent assessment of the common property, forecasting the expenditure for the next ten years, and creating a levy that is suitable to maintain common property items.
How do Owners’ Corporations utilise the Capital Works Plan?
The funds accumulated are used to ensure the building’s integrity by maintaining or replacing the items inside it, based on our recommendations.
What does the Capital Works Plan include?
- Comprehensive assessment of the current condition of the common property.
- Prioritized schedule of necessary works ranked according to urgency.
- Recommended solutions for any identified issues impacting fund allocations within the common property.
- Preparation of a 10-year capital works plan forecast.
- Drawing on our extensive 30 years of experience in working with strata properties.
- Proposal for owners’ levies over the next decade.
Our reports are vetted by our team of quantity surveyors, architects, and project managers, providing an in-depth holistic assessment of each strata plan we consult, while at the same time taking into consideration the financial, environmental, and social factors specific to each property.