Insights and News
The Importance of Updating Capital Works Plans Regularly
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,...
Capital Works Plan: A Comprehensive Introduction
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 Importance of Progress Drawdown Reports During Construction
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...
Ensuring a successful project with a Construction Finance Initial Report
A Construction Finance Initial Report, also known as a Construction Budget Report, Pre-Construction Report, or Pre-Con, plays a crucial role in obtaining approval for a construction loan facility from project financiers before commencing...
The first stage of NCC 2022 is on: what has changed?
The National Construction Code (NCC) 2022 is an important document that sets the standards for construction in Australia. The new edition of the code has come into effect on May 1, 2023, and it is expected to bring significant changes to the...
The growing complexity of strata buildings in NSW
Strata buildings in NSW are becoming increasingly complex, presenting a range of challenges for owners, residents, and strata managers. As the number of strata buildings continues to grow, it is important to understand the factors contributing to...