I think this agent has misinterpreted Section 79 (6) of the Act: (6) An owners corporation of a large strata scheme must include in the estimates prepared at an annual general meeting— (a) specific amounts in relation to each item or matter …
Well spotted. This means only large schemes have to include spending plans but smaller schemes still need to have a maintenance plan in place – they just don’t need to put figures in place.
For instance, this could say that they will need to replace garage doors in an estimated so many years, without necessarily committing to a cost required to do so.