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10 reasons why it’s a BAD idea to manage your 10-Year Maintenance Plan on Excel

The purpose of the 10-year maintenance plan is to help stabilise the body corporate’s financial situation through preventative maintenance. This is achieved in combination with a cash flow forecast. Excel can be a powerful tool for creating intricate worksheets and financial forecasts…for expert-level users! But it does have some limitations when using it for the 10-year maintenance plan.

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Sectional Title Levies: Comprehensive Answers for Trustees and Managing Agents

What are body corporate levies and why are they important? In sectional title ownership, a body corporate is responsible for the management and maintenance of the common areas and facilities within a development or complex. Alongside the body corporate’s obligation to establish a thorough 10-year maintenance plan, each individual owner of a sectional title unit […]

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How to create a 10-Year Maintenance, Repair and Replacement Plan

The reserve fund, admin fund and levies all play an important role in creating a successful and sustainable 10-year maintenance, repair and replacement plan for bodies corporate and homeowners’ associations.  The admin fund is used for day-to-day expenses such as repairs and maintenance, while the reserve fund is set aside for major expenses that are […]

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Where are the Executive Managing Agents?

Being a trustee of a body corporate is often a thankless task, but also a position that is seldom occupied by someone deemed to be adequately qualified to carry such tremendous responsibility. Trustees have a fiduciary duty to administer the body corporate’s financials on behalf of its members.