by Archi-QS | Sep 27, 2023 | All Posts, Strata Services
In the event of a capital work cost surpassing the capabilities of the capital works fund, strata schemes may resort to a Special Levy. This financial mechanism involves distributing a one-off cost among the property owners within the scheme. Why Special Levies arise?...
by Archi-QS | Sep 12, 2023 | All Posts
At Archi-QS, we understand the profound impact that our recommendations in a Capital Works Plan can have on the lives of residents within a building. We recognize that each property is unique, and a one-size-fits-all approach won’t cut it. That’s why we...
by Archi-QS | Sep 11, 2023 | All Posts, Strata Services
When it comes to maintaining a building’s integrity, there’s a common misconception that we simply set a date for replacements or repairs and expect residents to foot the bill. But here’s the real deal – that’s not how Capital Works Plans...
by Archi-QS | Sep 8, 2023 | All Posts, Project Management, Quantity Surveying
When should I update my Capital Works Plan? As mandated by the Strata Schemes Management Act 2015 No 50 section 80, a capital works plan needs to be reviewed every 5 years: “(3) An owner’s corporation may, by resolution at a general meeting, review, revise or replace...
by Archi-QS | Sep 4, 2023 | All Posts, Quantity Surveying, Strata Services
A Capital Works Plan, formally known as a Sinking Fund Forecast, is a document that outlines the anticipated future expenses required to maintain and upgrade the common property of a strata scheme over 10 years. It serves as a roadmap for managing the financial...
by Archi-QS | Aug 16, 2023 | All Posts, Quantity Surveying
A Progress Drawdown Report provides a comprehensive overview of the progression of works whilst mitigating project risks and seeing the sustainable use of finance for all parties involved. In this blog post, we will talk about the particularities of this report and...
