Since the 1 April 2026 strata reforms introduced a standard form for 10-year plans, many strata committees have asked the same question: who is actually allowed to prepare our capital works fund plan, and do we have to hire someone?
In NSW, the owners corporation is responsible for its 10-year capital works fund plan. The plan can be prepared by the treasurer, the secretary, another owners corporation member, the strata managing agent, or an independent expert. A quantity surveyor is not legally required, but QS expertise is valuable where accurate cost and lifecycle forecasting matters.
That answer separates three things that are easy to blur: who is legally responsible, who can prepare the plan, and who has the expertise to make it a reliable forecast for your building.
Who Is Responsible for the Capital Works Fund Plan?
The owners corporation. Under section 80 of the Strata Schemes Management Act 2015, the owners corporation must prepare a plan of anticipated major expenditure to be met from the capital works fund for each 10-year period, starting from its first AGM.
The same section says the owners corporation may engage expert assistance to prepare the plan, must review it at least once every five years, and must implement it as far as practicable. Under section 79, when it estimates annual capital works fund contributions, it must take the plan’s anticipated major expenditure into account.
Responsibility stays with the owners corporation whoever prepares the document. An expert or strata manager can produce the plan, but the owners decide whether to adopt it and what levies to set.
Who Can Prepare a Capital Works Fund Plan in NSW?
NSW Government guidance and the standard form itself list the people who can prepare a plan. None of them is “better” in a legal sense; they bring different things.
| Who prepares it | Permitted? | What they bring | When it may suit |
|---|---|---|---|
| Treasurer or secretary | Yes | Knowledge of the scheme’s finances and records | Smaller, simpler schemes |
| Other owners corporation member | Yes | Knowledge of the building and its history | Self-managed schemes with good records |
| Strata managing agent | Yes, listed on the standard form | Records, administration and coordination; can organise experts | Managed schemes wanting a coordinated process |
| Independent expert | Yes, the Act allows expert assistance | Specialist technical or cost expertise | Larger or more complex schemes |
| Quantity surveyor (a type of independent expert) | Yes | Cost, lifecycle and capital expenditure forecasting | Where detailed cost forecasting is needed |
The Strata Hub Capital works fund planner has its own access rules. It can be used by a scheme contact listed in Strata Hub as strata managing agent, chairperson, secretary or strata scheme reporter. A treasurer without access needs to work with one of those contacts. Anyone can still use the Word version of the standard form instead.
Do You Legally Need a Quantity Surveyor?
No. NSW law does not require a quantity surveyor, or any other specific profession, to prepare a 10-year capital works fund plan. The Act lets the owners corporation engage expert assistance; it does not make that assistance compulsory.
The 2026 reforms did not change this. They made a format mandatory, not a profession:
- The standard form sets the structure and the information the plan must contain.
- The expertise needed to fill that structure with accurate numbers varies from building to building.
This is different from the independent surveyor rule for new multi-storey schemes. That rule requires an AIQS Certified Quantity Surveyor or RICS Chartered Quantity Surveyor to certify the developer’s Initial Maintenance Schedule and first-year levy estimates. It applies to the developer, not to the owners corporation’s 10-year plan. Our article on independent surveyor requirements under the April 2026 reforms covers that rule.
What Changed Under the 2026 NSW Strata Reforms?
The change that matters here is the standard form. From 1 April 2026, a 10-year plan must be prepared on the prescribed form under clause 17I of the Strata Schemes Management Regulation 2016 when the owners corporation is:
- preparing a new plan
- revising an existing plan
- replacing a plan that has run its 10 years
An existing plan that is not being revised or replaced does not need to be converted straight away. It did not become invalid on 1 April 2026.
The standard form asks for the opening fund balance, the plan start date, the current levy per unit entitlement, expected expenses by category and year, a contingency, an assumed building cost inflation rate, and the resulting source-of-funding cash flow. For new schemes, the first plan must also consider the developer’s Initial Maintenance Schedule, which is a separate document with a separate purpose.
For the wider reform package, see A Quick Look at the New 10-Year Capital Works Fund Plan Reforms.
Can You Prepare the Plan Yourself?
Yes. NSW Fair Trading built the Capital works fund planner in Strata Hub for exactly this. Any scheme can use it, and the Government notes it is especially useful for smaller schemes of up to six lots because it can produce a compliant plan without the cost of outsourcing.
The planner walks you through the fund balance, unit entitlements and levy, then asks you to enter the current cost of each expected item and the years it falls due. It applies your contingency and inflation assumptions and calculates the expenditure and funding position.
Self-preparation can work well where:
- the scheme is small and the building is straightforward
- owners have good records of past works and costs
- the scheme is self-managed and comfortable with the form
- there are no known defects or large replacements on the horizon
A self-prepared plan is not automatically inaccurate or non-compliant. But the planner calculates from the costs and timing you enter. It does not inspect the building, identify assets you have missed or tell you what a lift upgrade will cost. The Government’s own guidance says all schemes should consider the expertise needed for a plan that is fit for purpose, and that larger and more complex schemes may wish to engage external specialists.
What Does a Quantity Surveyor Bring to the Process?
A quantity surveyor does more than fill in the government form. The value is in the numbers that go into it. A typical QS process looks like this:
- Review the documents. The strata plan, any previous 10-year plan, the IMS for newer buildings, maintenance records, past project costs, the current fund balance and levies, special levies, and completed or proposed works.
- Identify the common-property assets. Roofs, facades, lifts, waterproofing, services, finishes, external works and anything else that will need major expenditure.
- Assess condition and lifecycle. Each asset’s current condition, remaining useful life, likely replacement timing and renewal cycle. Archi-QS recommends a site inspection for an initial plan, and offers a desktop update where we have prepared a previous plan for the building.
- Estimate costs. Repair, replacement and renewal costs at current market rates, including associated costs such as access, preliminaries and professional fees where relevant.
- Model the 10-year expenditure profile. Spread the works across the decade, apply escalation to the year each cost falls due, and allow for longer-life items that fall just beyond year 10.
- Model the funding. Test the opening balance, contributions, interest and expenditure year by year to show the contributions needed to keep the fund on track.
The QS recommends; the owners corporation decides. Levies are set by the owners at a general meeting, not by the consultant. You can see how Archi-QS approaches each step in our 10-Year Capital Works Fund Plan for NSW guide.
Archi-QS prepares plans on the prescribed form, with costs set out across the form’s 18 expenditure categories, so the committee receives a compliant plan that is ready to adopt.
Form Completion vs Professional Assessment
A compliant form is not the same thing as a reliable forecast. The standard form fixes the format. It does not supply the inputs. The usefulness of any plan depends on the quality of:
- asset identification
- condition assessment
- lifecycle assumptions
- quantities
- cost rates
- timing
- escalation
- funding modelling
For a 4-lot townhouse scheme, owners may know most of those answers. For a large building with lifts, basements and complex services, getting them right takes construction cost knowledge. Professional preparation makes the assumptions visible and defensible.
QS vs Strata Manager vs Building Consultant
These roles are not interchangeable. Each answers a different question:
- Owners corporation or treasurer: knows the scheme, its finances and history. Can prepare the plan with the available tools and approves the final version.
- Strata managing agent: keeps records, administers the scheme and coordinates the process. NSW Fair Trading notes a strata manager can organise the plan or recommend expert services.
- Quantity surveyor: forecasts costs. Quantifies assets, prices repair and replacement, applies escalation and models the fund.
- Building consultant: assesses condition and defects. Particularly useful for older buildings or those with known issues.
- Engineer: gives specialist technical assessment, for example structural, facade or services advice, where the plan depends on it.
In practice they work together. A building consultant may identify a failing balcony membrane; a QS can translate the likely repair into a cost and a year in the plan.
What Should You Check Before Hiring a Preparer?
If you engage someone, ask about:
- their understanding of NSW strata requirements and the standard form
- their experience preparing 10-year plans for similar buildings
- their construction cost knowledge and where their rates come from
- whether they will inspect the building, and what the inspection covers
- their lifecycle-costing method and the assumptions they use for inflation and contingency
- how clearly the plan sets out its assumptions
- whether they will present the findings to the committee and answer questions
- whether they can review the plan when circumstances change
- their professional credentials, such as AIQS or RICS membership
Professional credentials are a useful sign of expertise. They are not a legal requirement for preparing a 10-year plan.
FAQs
Who can prepare a capital works fund plan in NSW?
The treasurer, secretary or another owners corporation member, the strata managing agent, or an independent expert. The owners corporation remains responsible for the plan whoever prepares it.
Does a capital works fund plan need to be prepared by a quantity surveyor?
No. There is no legal requirement for a QS. The owners corporation may engage expert assistance, and a QS is one option where detailed cost forecasting is needed.
Can an owners corporation prepare its own plan?
Yes. The Strata Hub Capital works fund planner is designed for this and is especially useful for schemes of up to six lots.
Can a strata manager prepare the plan?
Yes. The standard form lists the strata managing agent among those who can prepare it, and strata managers can also organise or recommend expert help.
What qualifications should a professional preparer have?
The law sets none for the 10-year plan. Look for construction cost and lifecycle expertise, experience with similar buildings, and professional standing such as AIQS or RICS membership.
What changed under the 2026 NSW strata reforms?
From 1 April 2026, new, revised and replacement 10-year plans must use the prescribed standard form. Existing plans that are not being revised do not need to convert immediately.
When should a strata scheme engage a quantity surveyor?
When the building is large or complex, major works are approaching, costs are uncertain, or the existing plan relies on old assumptions or was prepared without an inspection.
How often does a capital works fund plan need to be reviewed?
At least once every five years. NSW Fair Trading also recommends a yearly review to support budgeting and levy planning.
Conclusion
The owners corporation is responsible for its 10-year capital works fund plan. The law lets the treasurer, other members, the strata manager or an independent expert prepare it, and the Strata Hub planner gives every scheme a way to produce one in the required form. The 2026 reforms standardised the format, not the profession.
The more useful question is who has the expertise to make the forecast reliable for your building. For a small, simple scheme, that may be the committee. For a large or complex building, it is usually worth bringing in cost and lifecycle expertise.
If your scheme is preparing or reviewing its 10-year plan, Archi-QS can assess the common-property assets, forecast future capital expenditure and prepare the plan on the NSW standard form. Find out more about our Capital Works Fund Plans or talk to our team.