If you’re a strata manager part of a strata committee, an owners corporation, or help manage a building, there’s a small but important change on the horizon. From 1 April 2026, the way 10-year capital works fund plans are prepared and reviewed is getting an update, and it’s all about improving consistency and clarity across the strata sector.
So what does that mean in practice?
- Introduction of a new standard prescribed form that must be used whenever the plan is being reviewed or created.
- A 10-Year capital works planner tool is now available via Strata Hub where anyone involved in the scheme can create and amend a 10-year capital works fund plan to meet the standard form.
- The initial capital works levy must be set to a reasonable level to incorporate the initial maintenance schedule costs.
- The initial capital works levy must be reviewed and certified by an independent surveyor like us, before the first AGM.
So why the update?
The goal is simple: make 10-year capital works fund plans clearer, more consistent, and easier for owners to understand. Setting more realistic levies up front enhances transparency for the owner’s future costs. A standardised format helps everyone, from committee members to strata managers see exactly what’s coming up, what it will cost, and how the fund should be managed.
For schemes approaching a review or preparing a new plan, now is the perfect time to start planning for the switch. And if you’re unsure where to begin, that’s exactly where we can help. We prepare fully compliant, reform-ready 10-year capital works fund plans designed to give your building a clear, confident financial roadmap.