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The responsibility for maintaining a building, its common property and plant and equipment can be given to a number of different people or organisations such as Committees, resident managers or extrenal facility managers. Some complexes are well maintained some unfortunately are not. Owners should take an interest in the complex and take what steps they can to ensure that there asset is being properly looked after to ensure that you investment is protected.
Not all committees resident managers or facility managers do a great job all the time and it never hurts for owners to ask questions if it looks to them that their asset is not being looked after to the same degree as they would their family home.
What are the signs that owners can look for or the questions they can ask if a concern is held?
Painting. A good paint job can last up to 10 years, a poor one less that seven. If paint is starting to flake, is stained and looking tired the body corporate should be looking at having the building repainted or at least cleaned with high pressure water. A high pressure water clean very four years or so if you live close to the coast is not a bad idea.
Cleaning and Gardening. A cleaner should operate with a well defined scope of works, if areas are not being cleaned or the standard is not up to what you consnsider to be sufficient have a word the the committee, resident manager or facility manager.
Service Contracts. Lifts, cooling towers and other items of plant and equipment should be covered by a service contract and someone should be ensuring that the service contractors are doin what they are paid to do.
Repairs. Minor maintenance issues if left undone can soon become costly repairs, it never hurts to keep an eye on the minor maintenance standards.
All of the above costs money. The day to day cleaning, gardening and minor repairs are paid for out of the Administation Fund budget. The larger jobs like painting,balustrade replacement, replacement of windows, lift upgrades and repalcement of items of plant and equipment must be funded through the Sinking Fund. It is most important that sufficient funds are in the sinking fund or will be in the fund when it is anticipated that replacement, upgrade or attention is needed. To learn more about sinking funds go to that page.
