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.
Mirfin’s 10-year maintenance, repair and replacement plan template revolutionises property management for trustees and managing agents by offering a hassle-free, efficient solution to an often complex and time-consuming task. This innovative tool allows users to effortlessly generate a comprehensive 10-year plan in a matter of minutes, without the need for specialised accounting skills. Click here […]
Our website provides comprehensive information that addresses common queries about the reserve fund. In this article, we will provide a guide on how to calculate your body corporate’s reserve fund. Discover the Mirfin Dashboard, our online platform that automates the updating of your levies when modifications are made to your reserve fund. Creating a reserve […]
What is a body corporate reserve fund? A body corporate’s reserve fund is a designated pool of money set aside by a collective ownership entity, to cover future expenses related to maintenance, repairs, and replacement of common property or shared assets. The reserve fund is typically funded by contributions from the individual owners in the […]
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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