Capital Works Funds – NSW:

A Capital Works Fund is a dedicated reserve set up by the owners’ corporation to pay for long-term building maintenance and upgrades.

Who Needs a Capital Works Fund?

Since July 2009, all strata schemes are legally required to have a 10-year Capital Works Fund plan in place (Section 75A of the Strata         Schemes Management Act 1996).

Strata committees must plan ahead for property repairs and make sure they save enough money to cover them. This 10-year plan looks different for every property. Older buildings usually need more money for repairs, while newer ones might need less.

Owners must vote to approve the 10-year plan at an AGM, and the corporation has to review and update it within the first five years.

A.T Cost Engineering has extensive experience in the completion of Capital Works Fund Plans. We understand the specific needs of individual buildings and can tailor a report which can suit the committees short and long term goals, as well as providing a report which suits the committees budget.

With over 20 years of expertise in preparing Capital Works Fund forecasts, A.T Cost Engineering delivers professional, reliable services to ensure your owners corporation is fully prepared for future capital expenses.

Contact A.T Cost Engineering today to arrange your Capital Works Fund Forecast.