Sinking Fund Forecasts
We will visit your property and assess the extent and timing of future capital expenditure required on the common property.
The budget forecast is calculated in accordance with The Body Corporate and Community Management (Standard Module) Regulation 1997 – Section 94 (3) and subsequent amendments as follows:
(a) to fix the amount to be raised by way of contribution to provide a reasonable capital amount for necessary and reasonable spending from the sinking fund for the current financial year.
(b) to reserve an appropriate proportional share of amounts necessary to be accumulated to meet anticipated major expenditure over the next 9 years after this financial year.
The forecast for each annual proportional share over the next 9 years after this financial year is calculated including G.S.T. and assumes a 5% annual increase in building costs.
The Building Economist Cost Index published by The Australian Institute of Quantity Surveyors and Rawlinsons Australian Construction Handbook building price index are referred to as a basis for forecasting cost movements.
Once in place, the Sinking Fund Budget Forecast should be updated every 3 years to take account of any irregular changes in building costs and any unforeseen changes in the condition of the Common Property.
Call us now for an obligation and hassle free quote or just to ask your questions about sinking fund forecasts.
Insurance Replacement Valuations
We will visit your property or complex and prepare an Insurance Replacement cost estimate based on measurements taken on site.
The G.S.T. inclusive estimate will be calculated to include building cost increases for the 12 month period from the date of the inspection and also for the duration of the re-construction period.
A break-up of the estimate will include costs for:
- Demolition of existing buildings, carparks, paving, driveways, fencing, landscaping and in-ground services.
- Construction of new replacement buildings.
- New carparks, paving, driveways, fencing, landscaping & in-ground services.
- Professional Fees.
Call us now for an obligation and hassle free quote or just to ask your questions about Insurance Valuations.