Here’s what Section 79 0f the NSW Act says:
The Admin fund would cover “recurrent expenses” which would include “such regular expenses as insurance, water charges, electricity charges, carpet cleaning, lawn mowing services and the like and minor expenses relating to maintenance of the common property.”
The Capital Works fund should meet “expenses of a capital nature [which] would include expenses in relation to major repairs or improvements to the common property or personal property of the owners corporation, such
as replacement of roofing, guttering or fences and the like.”
In other words, replacing common property equipment would be a Capital Works purchase.
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- This reply was modified 1 year, 11 months ago by .