A Maintenance Plan is document prepared by a Quantity Surveyor or appropriately qualified professional after the assets of the common property have been reviewed / surveyed / recorded which sets out the likely expenses related to those assets over a ten year period.
The maintenance plan must set out—
- The major capital items anticipated to require repair and replacement within the next 10 years.
- The present condition or state of repair of those items.
- When those items or components of those items will need to be repaired or replaced.
- The estimated cost of the repair and replacement of those items or components.
- The expected life of those items or components once repaired or replaced.
- Any other prescribed information.
“Major capital item” includes—
- Air conditioning plant.
- Heating plant.
- An item of a prescribed class.
Recently the list of items included under “major capital item” has been expanded to include:
- Common property structures including the roof, stairways, balustrades, and window frames.
- Common property services, such as shared water, gas and sewerage pipes, pumps, drains, electrical and telephony infrastructure.
- Common property assets, such as fences, pools, and water tanks.