Maintenance Plans

What a maintenance plan is

A maintenance plan gives property decision-makers a clearer view of future works, likely timing and budget. It looks across the major common property assets in a building, forms a view on how much service life each has left, and sets out when significant expenditure is likely to fall.

The value is in the forward profile. Instead of reacting to failures as they happen, owners can see the shape of expenditure over the years ahead and set levies that are fair between current and future owners.

Depending on the jurisdiction these plans are known by different names: capital works fund plans, sinking fund forecasts, or long-term maintenance plans. We confirm the applicable requirement and terminology for your building before starting.

What the plan covers

• Asset register — the major common property items relevant to long-term expenditure.
• Condition and remaining life — an assessment of where each item sits in its service life.
• Forecast timing — when significant works are expected to be required.
• Estimated costs — the anticipated cost of those works, built on construction cost knowledge.
• Escalation — an allowance for cost movement across the forecast period.
• Annual funding profile — what the forecast implies for contributions year to year.

Who it's for

Strata managers, owners corporations, body corporates and committees responsible for planning and funding common property works. It matters most as a building approaches the age at which major items start needing replacement.

It is also useful where owners are questioning the level of contributions, because it shows the reasoning behind the number rather than asserting it.

What you receive

• A schedule of forecast works with expected timing and estimated cost.
• The funding profile implied by that schedule.
• The basis of the assessment, including assumptions on expected lives, rates and escalation.
• Inclusions and exclusions, stated clearly.
• A recommendation on when the plan should next be reviewed.

Keeping the plan current

A maintenance plan is a forecast, not a fixed commitment. Works get brought forward, deferred, or come in differently to expectation, and costs move. Reviewing the plan periodically keeps the funding profile aligned with the building's actual condition.

Who prepares the report

Asset Scope's reports are prepared by a Certified Quantity Surveyor (CQS) and Member of the Australian Institute of Quantity Surveyors (MAIQS). See our accreditations →

How the work runs

Scope is confirmed first, then documents and property information are reviewed, the assessment is carried out, and assumptions are checked before issue. The full sequence is set out in how we work.