For strata properties, long-term maintenance planning is critical to sustaining property value, functionality, and aesthetic appeal. In Western Australia, the 10-year strata maintenance plan (or property maintenance plan) is a valuable tool for strata managers and property owners, providing a structured approach to property upkeep. Designed to outline essential maintenance, repair schedules, and cost forecasts, these plans help property managers, strata committees, and residents understand and anticipate maintenance needs over a decade.
This guide explains what a 10-year strata maintenance plan involves, why it’s essential, who it benefits, and what to expect in terms of costs and inclusions.
Understanding the Purpose of a 10-Year Strata Maintenance Plan
In Western Australia, a 10-year strata maintenance plan outlines the long-term needs of strata properties, addressing both current and future maintenance requirements. It is an integral part of proactive asset management, providing a structured timeline and estimated costs to maintain all shared components within a strata complex, from structural elements to shared amenities.
Why is a 10-Year Strata Maintenance Plan Important?
A well-prepared property maintenance plan helps property managers and strata committees:
- Anticipate and budget for upcoming repairs: By forecasting expenses, strata managers can help ensure adequate funds are available in the sinking fund to cover anticipated costs.
- Promote safety and compliance: Ensures the property complies with WA’s building and safety standards.
- Sustain and increase property value: Maintained properties have fewer unexpected repairs and are more likely to retain their market value.
- Enhance community satisfaction: Residents benefit from a well-maintained, safe, and appealing living environment, reducing the likelihood of conflicts over maintenance issues.
Who Needs a 10-Year Strata Maintenance Plan
A 10-year maintenance plan is particularly relevant for strata schemes. In Western Australia, under the Strata Titles Act 1985 sections 100(2A) and (7), all strata companies with 10 lots or more, or which have a buildings replacement value of $5 million or greater are required to establish and maintain a 10 year maintenance plan and reserve fund. The 10 year maintenance plan must be revised at least once every 5 years
Additionally, many strata companies who may not fall under the legislative rules, may mandate maintenance planning as part of their governance, particularly for larger complexes with more complex shared facilities.
Key Inclusions in a 10-Year Strata Maintenance Plan
A 10-year strata maintenance plan is detailed and comprehensive report, covering all major elements and systems within a property. Here’s what is typically included:
1. Comprehensive Condition Assessment
To begin, a qualified inspector conducts a detailed assessment of the property’s current condition. This includes evaluating the structure, foundation, roof, plumbing, electrical systems, and communal facilities. Inspectors will often use advanced tools like thermal imaging or moisture meters to detect hidden issues that might not be visible during a standard inspection.
2. Component Inventory and Expected Lifespan
The plan will list each component within the strata property, detailing its current state and expected lifespan. Key components include:
- Roof and External Walls: Assessing materials, weatherproofing, and structural integrity.
- Internal Structures: Including walls, floors, and ceilings.
- Shared Amenities: Such as lobbies, stairwells, parking, elevators, and recreational areas.
- Mechanical and Electrical Systems: HVAC, plumbing, fire safety systems, and other essential utilities.
By identifying the expected lifespan of each component, the plan helps predict when replacements or upgrades will be necessary, providing an informed basis for future budgeting.
3. Maintenance Schedule and Cost Projections
A detailed maintenance schedule outlines when each item needs servicing, repair, or replacement over the next decade. This section typically includes:
- Routine Maintenance Tasks: Annual or bi-annual servicing, such as gutter cleaning, repainting, or pest control.
- Projected Repairs and Replacements: Items that will need replacement within the 10-year timeframe, like roofing materials, flooring, or HVAC components.
- Cost Estimates: Forecasts for each maintenance task, which assists in budgeting and planning for the necessary financial reserves in the sinking fund.
4. Risk Assessment and Compliance Checks
A 10-year strata maintenance plan includes assessments to identify and manage any compliance risks. This can include ensuring the property meets the Building Code of Australia (BCA) standards and other WA regulations. Additionally, fire safety, electrical systems, and accessibility standards are reviewed to confirm compliance, reducing liability for the strata committee.
5. Recommendations for Preventive and Proactive Maintenance
To enhance the property’s durability and appeal, the plan includes recommendations for preventive maintenance, which can help avoid costly repairs. For instance, routine termite inspections or moisture control measures can prevent issues in Perth’s southern suburbs, where properties are more susceptible to moisture damage and pest risks.
How Much Does a 10-Year Strata Maintenance Plan Cost
Costs for creating a 10-year strata maintenance plan in Western Australia vary based on several factors, including the property’s size, age, and complexity, as well as the number of common areas and facilities.
For an approximate cost, strata maintenance plans for multi-unit complexes in Perth can range from $1,500 to $5,000 or more. Comprehensive plans for larger complexes may cost even more, given the need for in-depth assessments and detailed budgeting. However, the cost of the plan is a worthwhile investment by ensuring regulatory compliance, providing a clear roadmap for future maintenance, protecting the property’s value, and offering financial transparency to all stakeholders.
Why a Quality 10-Year Strata Maintenance Plan is Essential
While some property managers or strata committees may view a 10-year maintenance plan as an undesired expense, a comprehensive plan ultimately offers numerous benefits:
- Regulatory Compliance and Reduced Liability: A comprehensive maintenance plan helps ensure compliance with WA regulations, reducing liability for the property management and the strata committee.
- Financial Transparency and Predictability: Property owners benefit from clear financial forecasts and are more likely to contribute to the sinking fund if they see a tangible plan in place.
- Minimised Emergency Repairs: Scheduled, preventive maintenance reduces the need for urgent repairs, which are often more costly and disruptive.
- Enhanced Property Value: A well-maintained property retains and can even increase its market value, ensuring that owners see a return on their investment over time.
By taking a long-term view, strata committees can ensure regulatory compliance and safeguard the property’s longevity, appeal, and functionality, which benefits all residents and investors involved.
Why Broad Building Inspections is Your Ideal Choice for Strata Maintenance Plans
Creating a reliable strata maintenance plan requires experience, local knowledge, and attention to detail. Broad Building Inspections, based in Success, WA, brings over 40 years of building inspection expertise, a commitment to accuracy, and a dedication to customer education. With services extending across Perth’s southern suburbs, including Fremantle, Rockingham, and Mandurah, Broad Building Inspections offers property managers, strata committees, and developers the insight they need to protect their properties.
Contact Broad Building Inspections today to learn more about their 10-year strata maintenance plans and how they can support your property’s long-term maintenance and value.
