10-Year Maintenance Plans

Preventative Maintenance Requires A Paradigm Shift

Have a 10-year maintenance plan, but struggling with implementation?

Call Curasure, the market leaders in managing maintenance implementation and projects.

10-Year Maintenance Plans for Bodies Corporate

WHAT IS REQUIRED?

In order for Bodies Corporate to manage their schemes in line with the legislation, the Body Corporate trustees are required to not only establish a reserve fund, but to make contributions to the reserve fund and keep accurate records and maintenance plans for current, required and future maintenance.

The new legislative requirements include the following:

  • Maintenance Repair and Replacement Plan
  • 10-year planned forecast and budgets for the maintenance plan
  • Establishing a ring-fenced reserve fund for maintenance
  • Prescribed Minimum and Annual contribution to the Reserve Fund.

Although the requirements are comprehensive, it is in our opinion a huge step forward in protecting the asset value and maintenance expenditure of Sectional Title Schemes.
Bodies corporate are required to submit Maintenance, Repair and Replacement Plans with a 10-year budget and plan at each year’s AGM.

RESERVE FUND REQUIREMENTS?

The new legislative requirements include the following:

  • Establishing a separate ring-fenced Reserve Fund, dedicated to maintenance of the common property.
  • A separate bank account and set of accounts for the Reserve Fund.
  • Minimum contribution and level for the Reserve Fund.
  • Annual contributions to the Reserve Fund that are aligned to the Maintenance, Repair and Replacement Plan.

It would appear that the legislator has a very clear intention to ensure that bodies corporate prudently manage the 10-year plan for maintenance of the common property.

CURASURE COMPLIANCE ACTION PLAN (CAP) REPORT  (10 YEAR MAINTENANCE PLAN)

We have specifically developed a strategy and system to assist trustees and bodies corporate to move towards compliance.

Our unique offering is designed to assist the Sectional Title Industry to move towards compliance with legislation to the Sectional Title Act. Our Compliance Action Plan report includes the following:

  • Physical site inspection of the property
  • Photographic documentation
  • Listing of the major building envelope components and substrates, and the current condition
  • Preparing of a preliminary forecasted 10-year plan and budget, with estimates
  • Initial calculations of contributions to the reserve fund
  • Explanation and reference to the Act and compliance
  • Brief overview
  • Recommended approach to Maintenance Planning, Maintenance Repair and Replacement Plan

It is important to recognise that the requirement in Law determines that this document will be a “living” document; that will require an annual review and update. It is therefore only the first step and towards compliance with the new legislation.

OUR TRACK RECORD AND FEES

Curasure has actively promoted and completed 10-year plans for the sectional title community since 2006.

We have a proud record of successfully assisting bodies corporate, and are an award-winning registered trade-mark company, with operational experience of 20 years.
Our fees for the CAP (Compliance Action Plan) reports are tailor-made and standardised across Southern Africa. Please contact us to receive an obligation-free quote.

WHAT OUR CLIENTS SAY ABOUT OUR 10-YEAR MAINTENANCE PLAN

"Curasure provided an initial detailed report of the state of the complex and identified areas requiring attention, and we used this to compile our initial 10-year maintenance plan. "

"Curasure compiled and continue to update our 10-year-plan as and when necessary – hopefully only annually, but if the need arises, the plan is updated."

"They manage our 10 year maintenance plan from a technical perspective and continue to provide their services for every project we embark on annually with an identical discipline of rigour and process. "

"In preparation of the AGM we also completed a updated 10 year maintenance plan with Curasure. The full pack will be included in the AGM documentation with our proposed budget to fund our maintenance plan, which will be discussed under the finance section of the AGM."

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