#51636
Jimmy-T
Keymaster

    I strongly recommend you consider joining the Owners Corporation Network (OCN) where you will get direct advice from other owners corps on these issues. I would also look at discussing your situation with our sponsors  Strata Answers who may be able to give you hands-on support.

    On the question of the finances, there is no minimum level but you are expected to have enough to finance the current demands of your capital works fund (although this is rarely if ever enforced).

    The 10-year plan should be reviewed every five years and your finances should be allocated according to the expected needs, and adjusted as they evolve. Some expenditure may be needed to be brought forward while others can be delayed.

     

    The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.