10 Year Capital Works Forecast Plan | Common Property | Flat Chat Forum: Your Questions Answered




A A A

You must be registered and logged in to reply to posts or post new topics. Click on "How to Use This Forum" for simple instructions on how to get on board. NB: Please do not use your real name or email address as your screen name - if you do it will be changed to something less insecure.

Avatar

Please consider registering
Guest

Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

Register Lost password?
sp_Feed sp_PrintTopic sp_TopicIcon
10 Year Capital Works Forecast Plan
Avatar
kezza111
Flat(chat)Mate
Members
Forum Posts: 27
Member Since:
18/04/2017
sp_UserOfflineSmall Offline
1
15/07/2017 - 10:53 am
sp_Permalink sp_Print

Just a quick question.

I investigated into doing a DYI plan to save on cost for the Strata Plan, but I have decided against it.

I've called a couple of quality surveyors in country NSW who advise that they no longer do these 10 Year Capital Works Plans.

What are your thoughts on independent property valuers?

Who else can do these plans?

Avatar
BONNIE L
Flat(chat)Mate
Members
Forum Posts: 45
Member Since:
19/10/2016
sp_UserOfflineSmall Offline
2
15/07/2017 - 2:06 pm
sp_Permalink sp_Print

Think the question needs to be clearer. A 'strata plan' I haven't heard of, unless the building plan is what is meant.  I may be wrong.  Also, why are 'quality', or is it quantity surveyors, wanted.  Is it a valuation for the strata property what is meant ?  

I understand, may be wrong, that the guidelines for a 10 year capital works plan guideline can be found in the strata community generally, at no or at minimal cost.

Avatar
kezza111
Flat(chat)Mate
Members
Forum Posts: 27
Member Since:
18/04/2017
sp_UserOfflineSmall Offline
3
16/07/2017 - 3:15 pm
sp_Permalink sp_Print

I think my question is quite clear!

Im quering about the Capital Works (Sinking) Plan for the common property in a strata building.

Research via the internet is fruitless for guidelines/samples to use as a guide for a first timer.

Regional NSW quantity surveyors in my area are NOT prepared to professionally complete a CWP on our behalf. They've shown no interest in providing this particular service at all. Limited by the small number of surveyors in our country area.

To go to another town to get a surveyor to professionally prepared this CWP report will cost more due to the extra travelling involved.

Which is why Im coming up against some resistance from the other owners to go further afield.

So....who else can do these Capital Works Plans?

Avatar
JimmyT
Admin
Forum Posts: 4496
Member Since:
06/01/2014
sp_UserOfflineSmall Offline
4
16/07/2017 - 3:45 pm
sp_Permalink sp_Print

Get in touch with the Owners Corporation Network which is basically an organisation for the committee members of strata schemes.  There may be someone there who can provide a template into which you can plug your buildings requirements.

I believe Stratabox and (other strata management software programs) have a maintenance plan module in their software too.

But if anyone has a spreadsheet they don't mind sharing, please post it here.

Avatar
Lady Penelope
StrataGuru
Members

Full Members
Forum Posts: 430
Member Since:
13/02/2016
sp_UserOnlineSmall Online
5
16/07/2017 - 4:08 pm
sp_Permalink sp_Print

It is not mandatory to use a Quantity surveyor although that is obviously the best thing to do.

[s80(6)] SSMA 2015 states:

(6) An owners corporation may engage expert assistance in the preparation of a plan under this section.

Note the word "may".

My scheme uses Solutions in Engineering http://www.solutionsinengineering.com/

This company appears to have Australia wide coverage so you may find that they will visit your site.

http://www.austlii.edu.au/au/legis/nsw/consol_act/ssma2015242/s80.html

Avatar
dingo
Flat(chat)Mate
Members
Forum Posts: 70
Member Since:
13/09/2012
sp_UserOnlineSmall Online
6
17/07/2017 - 9:43 pm
sp_Permalink sp_Print

I have seen many of these reports undertaken by various companies including the one mentioned and found them to be inaccurate and somewhat bizarre in some cases. Many items missed and some items repeated randomly. Additionally they do not cover unforeseen expenses e.g. major building defects that are unknown at the time of inspection. Mostly I find they are a rough estimate at best to satisfy the legislation.  I even had one done on a Sunday by a Strata manager desperate to avoid further action for a total failure to properly do  their job.

Avatar
Puddn
Flat(chat)Mate
Members
Forum Posts: 54
Member Since:
20/03/2015
sp_UserOfflineSmall Offline
7
18/07/2017 - 10:22 am
sp_Permalink sp_Print

Try this:

https://shop.opr.com.au/strata-resources-and-links/

Choose 10 year sinking fund forecast.

You will need to correct some formulas, but otherwise works well and is modifiable to your own needs.

Avatar
JimmyT
Admin
Forum Posts: 4496
Member Since:
06/01/2014
sp_UserOfflineSmall Offline
8
18/07/2017 - 10:58 am
sp_Permalink sp_Print

I just had a look and I have to say I am very impressed.  It's free, for a start, and they have a link back to the Flat Chat website.

Who could ask for anything more?

Avatar
david2708
FlatChatter
Members
Forum Posts: 13
Member Since:
08/05/2017
sp_UserOfflineSmall Offline
9
18/07/2017 - 5:11 pm
sp_Permalink sp_Print

Our building had a 10 yer plan professionally done by a quantity surveyor(or whatever it is called) and it was a complete joke. It bore no relation to reality in any sense. The biggest cost stated was extertior painting of the building. The building is raw red brick! Where's the paint going? It lists jobs as costing a couple of hundred dollars, yet I have had 4 jobs done  this year with a minimum cost of $5000. One had an estimate of $25,000

Next AGM, I will do a revised one based on what I know needs doing over the foreseeable future.

Forum Timezone: Australia/Sydney

Most Users Ever Online: 518

Currently Online: scotlandx, dingo, Lady Penelope
26 Guest(s)

Currently Browsing this Page:
1 Guest(s)

Top Posters:

kiwipaul: 613

struggler: 459

Austman: 304

Billen Ben: 232

Millie: 203

Kangaroo: 168

considerate band fair: 167

Cosmo: 166

FlatChatFan: 147

daphne diaphanous: 137

Newest Members:

bhawesh

David Solomon

Tim349VicPl

Mariner

aylwardgame

reddant

danih

slicendice

Maun Warrior

Rayjen

Forum Stats:

Groups: 4

Forums: 46

Topics: 4280

Posts: 20243

 

Member Stats:

Guest Posters: 241

Members: 4873

Moderators: 4

Admins: 1

Administrators: JimmyT

Moderators: Whale, Sir Humphrey, scotlandx, Lady Penelope