#14490
Cosmo
Flatchatter

    FCF, all owners corporations are required to have a 10 year plan to help plan levies.  Refer here

    https://www.fairtrading.nsw.gov.au/Tenants_and_home_owners/Strata_schemes/The_owners_corporation/Sinking_funds.html

     

    It doesn't help much that there is no penalty for not having one but you can apply for an order to make the oc make one. I don't know what the remedy would be for one that purposely underestimates requirements so as to keep levys low! But I guess if an owner could go to a Tribunal showing that past plans were purposely 'fudged' maybe the order could cover that.