sinking fund forecast/analysis · provided within the sinking fund assessment (see item 7.0 of this...

THIS SAMPLE REPORT IS A SANITISED VERSION OF AN ORIGINAL TECHNICAL

REPORT AND SHOULD BE CONSIDERED CONFIDENTIAL AND NOT FOR PUBLICATION AS THE STYLE AND STRUCTURE REMAIN COPYRIGHT TO

INTEGRATED BUILDING CONSULTANCY

SINKING FUND FORECAST/ANALYSIS

PREPARED FOR: Owners Corporation STRATA SCHEME _______ PROPERTY: “_________” ____________ Road __________ NSW ____ PURPOSE OF THIS REPORT: Provide a Sinking Fund Assessment DATE: 15th May 2007 PREPARED BY: ___________ Senior Building Consultant OUR REFERENCE: SAMPLE REPORT NO. 53

STRATA SCHEME ……. ………….. ROAD, ………… NSW ……

This document and its contents are intended for the Addressee only and contains opinions held by the Author based on material available at

the time and expressed for the purposes of consideration by the Addressee and not for general publication without written consent.

TABLE OF CONTENTS 1.0 EXECUTIVE SUMMARY...................................................................................... 3

1.1 GENERAL..................................................................................................... 3 1.2 SUMMARY OF REQUIRED SINKING FUND CONTRIBUTIONS ................................ 3

2.0 INTRODUCTION.................................................................................................. 4 3.0 PROPERTY.......................................................................................................... 6 4.0 INSPECTION........................................................................................................ 7 5.0 INSPECTION RESULTS...................................................................................... 8

5.1 LITIGIOUS IN NATURE.................................................................................... 8 5.2 IMMEDIATE MAINTENANCE ITEMS ................................................................. 12 5.3 ITEMS REQUIRING MAINTENANCE WITHIN 1-2 YEARS .................................... 14 5.4 ITEMS REQUIRING MAINTENANCE WITHIN 2-5 YEARS .................................... 17 5.5 ITEMS REQUIRING MAINTENANCE WITHIN 5-10 YEARS .................................. 20 5.6 ITEMS REQUIRING MAINTENANCE WITHIN 10-15 YEARS ................................ 22

6.0 INSPECTION SUMMARY .................................................................................. 24

6.1 LITIGIOUS ITEMS......................................................................................... 24 6.2 IMMEDIATE MAINTENANCE REPAIRS ............................................................. 24 6.3 MAINTENANCE WITHIN 1-2 YEARS ............................................................... 24 6.4 MAINTENANCE WITHIN 2-5 YEARS ............................................................... 24 6.5 MAINTENANCE WITHIN 5-10 YEARS ............................................................. 25 6.6 ITEMS REQUIRING MAINTENANCE 10 YEARS AND OVER................................. 25

NOTES AND LEGEND IN RELATION TO SINKING FUND SPREADSHEET............. 26 7.0 SINKING FUND ASSESSMENT 2007 ............................................................. 28 CONDITIONS RELATING TO THIS REPORT ............................................................. 32

APPENDIX A STRATA PLAN REGISTRATION PAGE (UNIT ENTITLEMENTS) APPENDIX B CURRICULUM VITAE OF AUTHOR




1.0 EXECUTIVE SUMMARY 1.1 General

The contributions shown in this analysis are based on a fifteen (15) year forecast period. The forecast calculations take into account the maintenance and replacement requirements of the building and grounds over the next fifteen (15) years.

1.2 Summary of Required Sinking Fund Contributions

The present sinking fund balance is $28,000.00, current as at 14th May 2007. The standard yearly outgoings of the administration fund have been provided by the Strata Manager and are included in the overall assessment. The assessed contributions have been calculated in an attempt to secure adequate funds are available to meet all foreseeable expenses related to maintenance and items requiring future replacement. It is the responsibility of the Strata Manager to use the contributions provided within the Sinking Fund Assessment (See Item 7.0 of this report), apply the existing sinking fund balance and individual number of Unit entitlements for each lot to calculate the annual Strata Levies required per lot. The sinking fund analysis provided is divided into three five year periods. A condition inspection to amend the sinking fund analysis should be carried out every fifth year as indicated. This will ensure that the analysis of maintenance items is kept up to date in the best manner possible.




2.0 INTRODUCTION

We are instructed by the Strata Manager, Mr ________ of ______________ Pty Ltd on behalf of the Owners Corporation, to provide a Sinking Fund Assessment of all common areas within the property including - • circulation routes and driveways including paths of travel, • surrounding landscape gardens and open space, • service areas/rooms including lobbies and store rooms, • roof, • fire protection equipment as applicable, • car park areas and associated facilities, • lift operation and maintenance; • garbage rooms, and chutes; • fire stairs and corridors; • the general façade and envelope of the building including windows, doors,

balustrade, and • all other common property. In providing this document we make the following comments which may prove helpful in analysing the forecast. In the first year of this forecast there are a number of one off expenditures. These items are deemed necessary to bring the complex up to a serviceable level. These items may also be required to comply with the new Occupational Health & Safety Regulations that came into effect on the 1st September 2002. A major item for consideration is the condition of the lift to the complex. Good maintenance will prolong their lifespan prior to upgrade or replacement. Any recommendations made by the lift maintenance personnel should be followed in this regard.

The basis of the sinking fund analysis is to ensure that maintenance items are identified and are planned for as a proactive measure rather than a reactive action. Maintenance covers a wide variety of tasks from the simple cleaning of windows and pruning of trees/shrubs; regular checks on the condition of the building to identify potential problems; minor repair jobs such as easing of doors through to larger jobs such as repainting or removal and replacement of lintels and windows or the lift. Acts such as the regular washing of the metal balustrades will increase the life span of these materials significantly.




Paying attention to regular maintenance, particularly by carrying out periodic condition inspections, means that potential problems can be identified early and their repair (or replacement) planned for. Planning ahead for regular maintenance allows time and finances to be effectively managed. It is left to the discretion of the Owners Corporation how much maintenance they wish to do on the building, but when maintenance is carried out on a regular and orderly basis, the tasks become less onerous and the costs can be spread over time. Forecasting of costs is not an exact science and it relies to some extent on the experience of the Author. In order to get the best result we have forecasted a five year programme even though some estimates are for items that have a forecasted life of up to 15 years. Sinking fund forecasts are just that, a forecast. We seek to estimate rates of wear and tear together with major technological changes. We suggest frequent review of the forecast with a five year vision is a prudent policy. If the forecast as presented is accepted by the Owners Corporation, the likelihood of additional special levies within the forecast period are greatly diminished.




3.0 PROPERTY

The property comprises a 14 level residential tower block including podium and 3 levels of car parking, consisting of 38 residential units and 2 commercial retail shops, incorporating residents parking to the basement and two (2) vehicular drive entrances separate from the pedestrian access facing Green Street. The building has a common area and swimming pool with facilities on the podium level.




The building for the purposes of this Report, is considered to face south towards ________ Road and is approximately eleven (11) years of age. It is constructed using concrete and masonry with aluminium glazed balustrading to balconies. From overall observations it appears to be in good condition. The building is serviced by a lift and two (2) main fire stairs. Each floor contains an electrical and communications service cabinet and relevant essential services which are observed to be maintained and checked off by maintenance personnel.

4.0 INSPECTION The inspection was carried out on Thursday the __th May 20__ and access was made available to all relevant common areas including the roof, common area toilet, garage, garbage room lobbies, fire stairs, plant rooms and the like by _________ of the Executive Committee. Weather conditions at the time were overcast.

STRATA SCHEME ……….. ………………._ ROAD, _.........................__ NSW Sample Report

This document and its contents are intended for the Addressee only and contains opinions held by the Author based on material available at the time and expressed for the purposes of consideration by the Addressee and not for general publication without written consent.

5.0 INSPECTION RESULTS 5.1 Items Considered to be Litigious in Nature The following items are identified as high risk items for the Owners Corporation as they pertain to works or items that may either result in the need to spend urgent money for repairs/restoration if a Rectification Order is issued by the Local Council or may result in Public Liability claims made against the Owners Corporation by Owners and/or Visitors to the building. These are not items that require urgent attention due to failing maintenance but rather are brought to the attention of the Owners Corporation for the assessment of risk. It is left to the discretion of the Owners Corporation as to whether or not they pass this information onto their Public Liability Insurance provider.

Repair Time Frame

Item No

Location

Elevation Area

Item Description Remedial Works Required

Urgent Within 5 years

Over 5 years

Photograph if Necessary or Applicable

5.1 Litigious in Nature 5.1.1

Disabled threshold ramp servicing the surf shop (tenancy 40)

The disabled access threshold ramp servicing the surf shop, listed on the strata linen plans as number 40 is observed to have a 90 degree drop off to the edge of the ramp. It is noted that this construction is considered to be non-compliant with the disabilities access code AS 1428.1, and is a potential hazard (turning of an ankle etc) and thus will be an ongoing litigious concern for the Owners Corporation. This is of particular importance as this item is located within the public domain with high traffic flow.

To rectify this item would require the following: • The edge of the ramp shall be

provided with a tapered edge formed on an angle of no greater than 60 degrees to eliminate/control the hazard. For increased protection this splayed edge may be painted with yellow warning paint.

• Clean all on completion.

STRATA SCHEME ……. ………….. ROAD, ………… NSW …… Sample Report No. 53

This document and its contents are intended for the Addressee only and contains opinions held by the Author based on material available at the time and expressed for the purposes of consideration by the Addressee

and not for general publication without written consent.

Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.1.2

Glazed door units to podium level/ swimming pool

The glazed panels servicing the pool room/podium level are observed to be wider than 500mm and provided without identification of the glazed panels. Glazing wider than 500mm, is required to have permanent motifs added to the glass where that glazed panel may be mistaken as a clear path of travel. This item is again a potential hazard and will be an ongoing litigious concern for the Owners Corporation unless addressed.

To rectify this item would require the following: • Install permanent stick on

motifs with a minimum height of 20mm to the glazed panels at a height between 700-1200mm to ensure compliance with AS 1288-2006.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.1.3 Parapet wall to northern elevation of podium level.

The parapet wall that also acts as a balustrade to the garden bed on the northern end of the podium level is observed to be approximately 640mm in height in lieu of the required 1000mm. At the present time the thick shrubbery providing a screen to this wall means that access to this wall cannot be gained, therefore there is a minimal risk of injury due to this reduction in height. The owners need to be cautious with regards to these shrubs and ensure that they are well maintained. Should the shrubs grow higher or die off exposing gaps to this wall, then remedial action may need to be taken.

To rectify this item would require the following: • Monitor and manage shrubs

against boundary balustrading to ensure that they form a healthy and protective barrier system. If shrubs fail, die or grow higher exposing the balustrade then remedial methods will need to be adopted such as raising the height with additional block work to make it 1000mm in height.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.1.4 Stairs leading down to rear store room on carpark level.

The stairs in the north eastern corner of the lower level carpark are observed to be installed without a handrail. This will be an ongoing litigious concern for the Owners Corporation until it is addressed.

To rectify this item would require the following: • Supply and install handrail to

one side of the stairs in question to make safe.





5.2 Immediate Maintenance Items

Repair Time

Frame Item No

Location

Elevation Area



Over 5 years


5.2.1

Solar heating to the roof level eastern sector

The inclusion of the solar heating to this roof space has already been planned for by the Owners Corporation. I am instructed that there is an outstanding balance cost of $10,000 for such works. The installer of this system shall ensure that all penetrations to the roof membrane system are fully sealed and watertight to not breach this membrane system. The inclusion of the solar water heating should be done on a platform to ensure that access can still be gained to the waterproof membrane system applied to this roof area as this will require maintenance every 10-15 years. The removal of the heating system to allow for this maintenance will be costly.

To rectify this item would require the following: • Supply and install pipework for

solar water heating of swimming pool and connect all services.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.2.2

Repair of water leak to fire hydrant pipework.

The rectification of the water leak to the fire hydrant pipework has already commenced and the leak has been stopped. Sparging and inclusion of a fire collar to the floor penetration is still required to be provided.

To rectify this item would require the following: • Install fire collar to penetration

ensuring that leak test is completed and satisfactory. Sparge around collar and float finish.


5.2.3 Pool filter The pool filter should have the sand from within the filter replaced every 10 years. As the building is now 11 years old, this should be carried out.

To rectify this item would require the following: • Engage pool contractor to

remove and replace sand from filter unit.





5.3 Items Requiring Maintenance Within 1-2 Years

Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.3.1

Corroded common area door jambs and sets.

It is observed that doorways have corrosion evident to the base of the reveals and door jambs. The doors in question provide access to external areas from plant rooms, fire stairs and also to the facilities on the podium level. The majority of these doors are fire doors and the fire protection offered by these door-sets is being compromised by the corrosion. A repair now will save considerable costs if replacement is required.

To rectify this item would require the following: • Identify doors subject to

corrosion and manually remove flaking and damaged metal from the surfaces.

• Where corrosion has caused substantial damage to the metal allow to remove and fill with an epoxy to match original profile.

• Treat doors frames by painting with corrosion inhibitor and then a minimum of 2 coats of an epoxy based paint.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.3.2

Western sector of roof, roof above shops, around skylights at podium level.

The nominated areas are observed to have exposed roof sections that are provided with an acrylic based waterproof membrane application. As the building is now 11 years old, this membrane will be in need of maintenance to ensure that the building remains waterproof.

To rectify this item would require the following: • Roof areas shall be treated

with a suitable waterproof application system in accordance with manufacturer’s installation instructions.

• It is imperative to the roof area that the section and hob behind the roof covering is also waterproofed and that water is not permitted to pond in these concealed areas.






Repair Time

Frame Item No

Location

Elevation Area



Over 5 years


5.4.1

Gates and fences.

The steel work to the front gate and the gate leading to podium level from common property walkway are observed to be corroding. If the corrosion is treated now then no welding or replacement works will be required saving substantial costs and prolonging the life span of the steel considerably.

To rectify this item would require the following: • Manually clean the steel to

remove corrosion, treat with corrosive inhibitor and repaint with an epoxy based paint application.


5.4.2

Steel portal frame to metal clad roof.

The steel portal frame members to the roof are observed to be corroding. If the corrosion is treated now then no welding or replacement works will be required saving substantial costs and prolonging the life span of the steel considerably.

To rectify this item would require the following: • Roof frame shall be accessed

where possible, manually remove corrosion to portal frame members and treat with a corrosion inhibitor. Spray with cold-gal or similar zinc rich priming paint on completion to protect.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.4.3 Render to walls of fire stairs.

The render to the fire stairs is observed to be drummy and delaminating. The render is located within a fire stair which needs to be clean and safe to permit egress from the building. The render has delaminated in numerous instances where it has either not taken to the substrate wall or struck joints have failed. The owners need to decide whether to remove and replace, or remove and merely bag and repaint. Bagging would be the suggested option.

To rectify this item would require the following: • Remove delaminated and

drummy render and provide bagging to wall, repaint on completion.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.4.4 Columns at podium level.

The columns to the podium level are observed to have corrosion of the steel plaster setting angles. The angles are at foot level and present a hazard as well, resulting in damage to the columns.

To rectify this item would require the following: • Rake out metal setting angles

and replace with pvc where corrosion is evident. Re-set, seal and repaint.






Repair Time

Frame Item No

Location

Elevation Area



Over 5 years


5.5.1

Repainting of the external façade.

The external of the building should preferably be painted prior to this time, however, due to the expensive nature of the works the owners will require additional time to cover these costs. The paint to the external loses its durability after 3-5 years from application. The paint can be seen to be permitting water to soak through its surface already where affected by the uv light and breaking down. In addition to this, spot corrosion is also observed on several balconies to the leading slab edges where tendons of steel are exposed. Water absorption into the concrete surfaces of this balcony will result in the build-up of chloride ions which promote steel corrosion and spalling concrete which is a major remedial cost. This can be eliminated or at worst reduced by the regular

To rectify this item would require the following: • Provide access via

combination of scaffolding, boom lift and swinging stages to the external of the building.

• Clean down all surfaces, grind out corrosion spots as identified and provide protection to all adjoining surfaces and finishes.

• Supply and paint the exterior of the building where previously painted excluding metal and Colorbond finishes.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


maintenance of the paint coating system. A suggested paint coating system for this building is Dulux Elastomeric 201 (968) which is a waterproof and self cleaning paint application most suited for buildings in close proximity to coastal areas.

5.5.2

Repainting of internal common areas

The internal elements of the building will also be required to be repainted at or near this time, and costs could be saves by having these done by the same contractor.

To rectify this item would require the following: • Provide protection to adjoining

surfaces and finishes. • Supply and paint internal

previously painted surfaces and finishes with exception of unit doorways.

• Clean all on completion. •

5.5.3 Major services on electrical and diesel generated motors

The following items will require major services within this time period: Garage door motors Diesel generator for sprinklers, hydrant Mechanical ventilation/stair pressurisation motors Lift equipment Intercom

To rectify this item would require the following: • Allow for major service on

motors • Clean all on completion.





Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.6.1

Waterproofing and tiling works to the podium level external terrace.

It is envisaged that the waterproof membrane system as applied (assumed to be applied) to the rear terrace of the podium will require replacement at or near this time prior to water damage to the areas below and to the concrete slab. This tiled area is under inundation from water leaving the tile substrate saturated and placing the membrane system under constant moist conditions will cause it re-emulsify over time.

To rectify this item would require the following: • Remove tiles and discard, re-

waterproof and lay new tiles. • Clean all on completion.

5.6.2 Renovation and oiling of sauna timber work.

Timber work to the sauna should be re-oiled to protect the timber work. Oil should be natural to not omit fumes or form a sealer or lacquer coating as it is imperative that the timber is permitted to breath.

To rectify this item would require the following: • Sand back floorboards and

seal with polyurethane sealer. • Replace door hardware

(hinges etc) • Apply Lysol or Pinesol to

timberwork by mop to protect. • Clean all on completion.

ME ……. ………….. ROAD, ………… NSW …… Sample Report No. 53



Repair Time Frame

Item No

Location

Elevation Area



Over 5 years


5.6.3 Waterproof and bunding to car wash bay

The car wash bay should have been provided with bunding to prevent water run off from entering drains that service the stormwater system. The junction between wall and floor should also be waterproofed and coved to prevent water absorption to the wall.

To rectify this item would require the following: • Clean down surfaces, install

pre-fabricated bunding and coving to the wall and floor junctions.


5.6.4 Repaint yellow markings to carpark surfaces

The yellow marking and signs marked on the surface of the car-parking concrete will require replenishment to ensure clear bays and instructions are marked.

To rectify this item would require the following: • Clean down and repaint yellow

markings. • Clean all on completion.

5.6.5 Removal and replacement of common area carpet

The common area carpet at this time will be 25 years old and in need of consideration for replacement.

To rectify this item would require the following: • Remove and replace carpet to

common area foyers. • Clean all on completion.

5.6.6 Removal and replacement of common area window hardware.

The hardware to the window frames, particularly the awning windows will be required to be replaced due to corrosion and poor operation.

To rectify this item would require the following: • Remove and replace common

area window furnishings and fittings.


STRATA SCHE

STRATA SCHEME ……….. ……._ ROAD, _________ NSW Sample Report No. 53


6.0 INSPECTION SUMMARY

6.1 Litigious Items 6.1.1 Disabled threshold ramp servicing the ______shop (Tenancy ___) 6.1.2 Glazed door units to podium level/swimming pool 6.1.3 Parapet/balustrade wall to northern elevation boundary of podium

level.

6.1.4 Stairs leading down to rear store room on carpark level. 6.2 Immediate Maintenance Repairs 6.2.1 Solar heating to the roof level eastern sector 6.2.2 Repair of water leak to fire hydrant pipe work. 6.2.3 Pool filter sand replacement 6.3 Maintenance Within 1-2 Years 6.3.1 Corroded common area door jambs and sets 6.3.2 Western sector of roof, roof above shops, around skylights to podium

level. 6.4 Maintenance Within 2-5 Years 6.4.1 Gates and fencing treatment of corrosion 6.4.2 Steel portal frames to roof 6.4.3 Render to walls of fire stairs.

6.4.4 Columns at podium level.

STRATA SCHEME ………… ………….._ ROAD, _________ NSW



6.5 Maintenance Within 5-10 Years 6.5.1 Repainting of the external façade. 6.5.2 Repainting of the internal common areas

6.5.3 Major services on electrical and diesel generators / motors

6.6 Items Requiring Maintenance 10 Years and Over 6.6.1 Waterproofing and tiling works to the podium level external terrace 6.6.2 Renovation and oiling of sauna timber work. 6.6.3 Waterproofing and bunding of carpark wash bay

6.6.4 Repaint yellow markings to carpark surfaces

6.6.5 Removal and replacement of common area carpet

6.6.6 Removal and replacement of common area window hardware.




Notes and Legend in relation to Sinking Fund Spreadsheet on the following pages On the following page/s is the monetary breakdown of the sinking fund forecast in a spreadsheet format. I provide the following notes and legend to assist in the dissemination of this information. In the top left hand corner of the first page of the spreadsheet is a colour legend. It states that anything in blue are levy amounts to be incurred each year from the administrative fund and levies to be struck and used in the first year of operation of this sinking fund. Items in green indicate funds that are required to be raised in that year however the funds may be raised and dispersed in the same year, or may be retained as undispersed contributions within the sinking fund so as to meet future expenditure which is shown in red. Items in red are the funds that will be dispersed in that year. Calculation of Each Unit’s Yearly Contributions To allow the calculation of the yearly contributions of the individual unit owners to be easier, I have included as the last item of the spreadsheet, how many unit entitlements have been allocated to the complex and what is the monetary value when the total entitlement is divided into the annualised levy requirements. This establishes a per unit entitlement rate. An owner only needs to multiply the number of unit entitlements allocated to their unit which can be found on the strata plan to determine their total contribution each year. Accuracy of Costings I draw the attention of the reader to Item 8 of the Conditions Relating to this Report in regard to the accuracy of the estimations. It is my recommendation that quotations be sourced to evaluate the commercial cost of the works at least 12 months prior to the programmed works taking place so that any adjustments to the projected budgets can be incorporated. This may result in the necessity to increase the levies in the following year or allow for a lower collection based on the commercial reality at the time of the works taking place.




Balance of Existing Funds Existing monies in either the administration or sinking funds have not been calculated in the following table. The reason being is I am not aware of any invoices or payments that may be required to be deducted from the existing balance shown in item 1.2. The Owners Corporation have two options: (1) unless the balance is in arrears any surplus could be left out of the spreadsheet

calculation to be used as a buffer, or (2) the Strata Manager could deduct any outstanding or projected expenses that

have not been accounted for in the spreadsheet summary. Deduct these from the balance as shown in item 1.2 and deduct any surplus from the required sinking fund amount for the first year of operation of the new sinking fund. If the sinking fund is starting in arrears, the arrears will need to be taken up as further contributions on the first year totals and adjustment of the sinking fund should take place accordingly.

STRATA SCHEME …………… ………………..____ ROAD,………… NSW Sample Report No. 53


7.0 SINKING FUND ASSESSMENT 2007 (Whole dollars only)

YEARS

NEXT SINKING FUND ANALYSIS DUE


LEGEND Levy amounts to be incurred each year from the administrative fund and levies to be struck and used in the first year of operation of this sinking fund.

Levies raised and accumulated for expenditure in future years (budgeted).

Funds that will be dispersed in that year.

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Administrative Funds Yearly Cost (increased at 5% per annum)

$165,012

$173,263

$181,926

$191,022 $200,573 $210,602 $221,132 $232,189 $243,798 $255,988

$268,787

$282,226 $296,337 $311,154 $326,711

5.1.1 Disabled threshold ramp to ____ shop

Total Cost $960.00

Annualised Cost

$960

5.1.2 Glazed units to podium level

Total Cost $1,000.00

Annualised Cost

$1,000

5.1.3 Parapet/balustrade wall to northern boundary podium level

Total Cost $0.00

Annualised Cost

$0

5.1.4 Stairs leading down to store room


Annualised Cost

$1,200

5.2.1 Solar heating to roof area


Annualised Cost

$10,000

5.2.2 Repair of water leak to hydrant pipe work


Annualised Cost

$3,800

STRATA SCHEME ………… ………….._ ROAD, _________ NSW Sample Report No. 53


YEARS






2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

5.2.3 Pool filter sand replacement


Annualised Cost

$1,000

$1,000

5.3.1 Corroded common area door jambs and sets


Annualised Cost

$3,000

$3,000

$9,000

$3,000

5.3.2 Waterproofing of roof areas


Annualised Cost

$8,000

$8,000

$24,000

$8,000

5.4.1 Gates and fencing corrosion protection


Annualised Cost

$900

$900

$900

$900

$4,500

$900

5.4.2 Steel portal frames to roof


Annualised Cost

$3,000

$3,000

$3,000

$12,000

$3,000

5.4.3 Render to walls of fire stairs


Annualised Cost

$1,600

$1,600

$1,600

$1,600

$8,000

$1,600

5.4.4 Columns at podium level


Annualised Cost

$700

$700

$700

$2,800

$700

5.5.1 Repainting of external facade


Annualised Cost

$30,000

$30,000

$30,000

$30,000

$30,000

$30,000

$30,000

$240,000

$30,000



YEARS






2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

5.5.2 Repainting of internal common areas


Annualised Cost

$13,000

$13,000

$13,000

$13,000

$13,000

$13,000

$13,000

$13,000

$117,000

$13,000

5.5.3 Major services on electrical and diesel generated motors.


Annualised Cost

$2,000

$2,000

$2,000

$2,000

$10,000

$2,000

5.6.1 Waterproofing and tiling works to podium terrace


Annualised Cost

5.6.2 Renovation of sauna


Annualised Cost

5.6.3 Waterproofing and bunding to car wash bay


Annualised Cost

$3,600

$3,600

$3,600

$3,600

$1,800

$3,600

5.6.4 Repaint yellow markings to carparks


Annualised Cost

$800

$800

$800

$800

$4,000

$800

5.6.5 Removal and replacement of common area carpet.


Annualised Cost

$5,000

$5,000

$5,000

$5,000

$5,000

$30,000

$5,000

5.6.6 Removal and replacement of common area window hardware


Annualised Cost

$1,200

$1,200

$1,200

$1,200

$6,000

$1,200



YEARS






2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

SUB TOTAL (Annualised Cost Only)

$181,972 $234,463 $242,126 $251,222 $249,773 $256,102 $266,132 $277,189 $288,798 $275,988 $281,387 $292,826 $306,937 $321,754 $337,311

Engagement of a Contracts Administrator (Budget Assessment Costs only).

7.5%

$195,610

7.5%

$252,048

7.5%

$260,285

7.5%

$270,063

7.5%

$268,506

7.5%

$275,310

7.5%

$286,092

7.5%

$297,978

7.5%

$310,458

7.5%

$296,687

7.5%

$302,491

7.5%

$314,788

7.5%

$329,957

7.5%

$345,885

7.5%

$362,609

5 YEAR SUB TOTALS incl Contracts Administration Fee

$1,246,512 $1,466,525 $1,655,730

Total number of unit entitlements 82 as per Strata Scheme _____.

Unit entitlements divided by annualised contributions including Contracts Administration Fee.

$2,385.48

$3,073.75

$3,174.20

$3,293.45 $3,274.46 $3,357.43 $3,488.92 $3,633.87 $3,786.07 $3,618.13

$3,688.91

$3,838.87 $4,023.86 $4,218.10 $4,422.06

Our Ref: _______F Date: _______

CONDITIONS RELATING TO THIS REPORT 1. The Report is made in accordance with the requirements of Australian Standard

4349.1-1995 and is a special purpose property report that reflects the requirements of the instructions provided to Integrated Building Consultancy Norwest ACN 119 674 298. This is not a pre-purchase report nor does it express any view as to the value of the Property or parts thereof being inspected.

2. This Report and all its content is prepared for the exclusive use of the Addressee and

may not be used for any other purpose than its stated intention with the exception of its distribution to any party in litigation to which this Report may have reference. No responsibility will be accepted for its content in respect of Third Parties.

3. This Report will remain the property of Integrated Building Consultancy Norwest ACN

119 674 298 and may not be used by the Addressee for any purpose whatsoever until full payment is made. Non compliance with this condition forms a substantial breach in the terms of the agreement between the Addressee and Integrated Building Consultancy Norwest ACN 119 674 298.

4. This Report may not necessarily be suitable for presentation in litigation and other

Court or Tribunal actions as a report with a different structure, ie, a Scott Schedule, may be required by direction of the adjudicative body.

5. Unless otherwise stated-

(a) no soil etc has been excavated (b) no plants or trees have been removed (c) no fixtures, fittings, cladding or lining materials have been removed (d) no items of furniture or chattels have been moved (e) no enquiries of Councils or Authorities or persons have been made for the

purpose of inspecting the Building and providing this Report. 6. This Report does not include-

(a) faults in inaccessible parts of the Building (b) faults not apparent on visual inspection (c) faults apparent only in different weather or environmental conditions (d) faults resulting from different use of the Building’s intended use (e) minor faults (e.g. hairline plaster cracks, jamming doors, window and catches

etc)

This document and its contents are intended for the Addressee only and contains opinions held by the Author based on material available at the

time and expressed for the purposes of consideration by the Addressee and not for general publication without written consent.

CONDITIONS RELATING TO THIS REPORT Continued 7. Asbestos Disclaimer: “No inspection for asbestos was carried out at the

property and no report on the presence or absence of asbestos is provided. If during the course of the Inspection asbestos or materials containing asbestos happened to be noticed then this may be noted in the general remarks section of the report. Buildings built prior to 1982 may have all and/or ceiling sheeting and other products including roof sheeting that contains Asbestos. Even buildings built after this date up until the early 90’s may contain some Asbestos. Sheeting should be fully sealed. If concerned or if the building was built prior to 1990 you should seek advice from a qualified asbestos removal expert as to the amount and importance of the asbestos present and the cost of sealing or removal. If asbestos is noted as present within the property then you should seek advice from a qualified asbestos removal expert as to the amount and importance of the asbestos present and the cost of sealing or of removal. Drilling, cutting or removing sheeting or products containing Asbestos is a high risk to peoples’ health. You should seek advice from a qualified asbestos removal expert.”

8. Expert Witness Estimating Disclaimer: Any estimates provided in this report are

merely opinions of possible costs that could be encountered, based on the knowledge and experience of the consultant. The estimates are NOT a guarantee or quotation for work to be carried out. The actual cost is ultimately dependent upon the materials used, standard of finish required and what a contractor is prepared to do the work for. It is recommended in ALL instances that multiple independent quotes are sourced prior to any work being carried out. The consultant accepts no liability for any estimates provided throughout this report.

9. Professional Indemnity Insurance: Integrated Building Consultancy Norwest ACN

119 674 298 holds current professional indemnity insurance. This insurance is limited to a maximum of $1million per event. It is a condition on engagement of Integrated Building Consultancy Norwest ACN 119 674 298 that any claim on the professional indemnity insurance will be limited to a maximum of $1million.

APPENDIX A

STRATA PLAN REGISTRATION PAGE (UNIT ENTITLEMENTS)

APPENDIX B

CURRICULUM VITAE OF AUTHOR

sinking fund forecast/analysis · provided within the sinking fund assessment (see item 7.0 of this...

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