When does a new report need to be prepared?

A Capital Works Fund Forecast must be reviewed every 5 years according to the Strata Schemes Management Act. When we review a report, we undertake a new inspection and re-assess each item’s condition and whether items have been replaced.

It may be that certain items have been well maintained and their expected life is longer than the initial report. It also may be the case that an item will have deteriorated faster than expected in the initial report. New items may have also been added or old items removed. This is all taken into account when a report is reviewed.

Contact Quanto if you have any questions about your current Capital Works Fund Forecast.