ARCHERS - connecting strata communities

A discussion on property maintenance

Although we never like to admit it, the older we get the more money we need to spend on maintenance and improvements of our bodies. The same thing inevitably occurs with property.  A hip replacement could be the equivalent of a lift upgrade, a facelift the equivalent of a repaint, and sometimes costs just as much!

Some humans and indeed properties age gracefully, however below the skin and behind the scenes there is a myriad of work being undertaken by organs, contractors and committee's to make the transition to old age appear seamless.  

The importance of ensuring that vital facilities such as lifts, pumps and paintwork are maintained is paramount to the longevity of your complex. It is also inevitable that at some stage your facilities will need upgrading. Whether it is a new lift or paint job, all require careful budgeting to ensure that monies are available when required.

Just like saving up for that facelift over a period of time if the money isn't available, a body corporate needs to keep their Sinking Fund Forecast updated to ensure that monies are collected each year for future capital costs. Not only does this reduce the need for Special Levies, it also ensures that current owners are contributing towards future expenditure on facilities they are benefitting from, even if they are not owners when the upgrade is required.

Archers employs a Quantity Surveyor who is able to ensure that your sinking fund forecasts are accurate and comply with Body Corporate legislation.

Now only if we could figure our how to predict necessary upgrades required to our own bodies!