Some years ago, the NSW Government passed legislation that made Sinking Fund Analyses or Capital Works Plans mandatory for Strata Plans. This legislation came into effect from July 2009. Whilst basic reports may be procured for substantially less than a Pinnacle report, our detailed site assessment and comprehensive reporting provide our clients with peace of mind in knowing that a thorough review of the property has been undertaken, and that our consultants are experienced with the cost of remedial building work, maintenance outgoings and timeframes, and importantly, the relevant industry publications for quantity surveying and estimating.
Pinnacle Building Consultancy commonly prepares these types of reports on behalf of a Strata Plan/Body Corporate to assist the Owners Corporation meet its obligations under Section 75A of the Strata Schemes Management Act 1996. Our ten-year Lifecycle Cost Analyses reports consider the current condition of the various building elements, and forecast the likely costs associated with maintaining the structure to a satisfactory standard during the specified reporting period.
Furthermore, each report is a standalone document that is wholly site specific, and may be updated by our experienced consultants as major items of capital expenditure are realised, or as preferred by our clients.
Similarly, lifecycle cost planning for commercial buildings is an important part of understanding the costs associated with owning a valuable asset. Like a motor vehicle, buildings are manmade, and therefore require periodic maintenance in order to remain serviceable. Our favourite analogy is that of an unloved car that is not serviced regularly – it is not unlike a building that is not maintained regularly, and therefore prone to increased wear and tear and eventual failure or part thereof.
Our Life Cycle Cost Analysis reports present a detailed picture of the subject property’s condition and its likely ongoing maintenance requirements in order to maintain an acceptable level of performance. Our reports consider the asset owner’s views on the level of maintenance or upgrade that may be required during the reporting period, however we always exercise our professional judgment with consideration to local legislation, the Building Code of Australia and Australian Standards.