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Warning: Be wary of non-compliant 10 year plans
August 19, 2020
10 year plans are a legislated legal requirement for all strata companies with 10 or more lots, or. a scheme with a building replacement cost of more than $5,000,000.00 in accordance with the Strata Titles (General) Regulations 2019 – Gazette No. 188 (31/12/19) - Section77.
It is the strata’s responsibility to ensure the 10 year plan provided meets all the regulation requirements.
The best way to ensure the person submitting the 10 year plan proposal to the strata scheme is compliant, is for them to state “The proposed 10-year plan for the site will be in accordance with the Strata Titles (General) Regulations 2019 – Gazette No. 188 (31/12/19) - Section77”.
These specific items below are included in the proposed 10 year plan as required by the Strata Titles (General) Regulations 2019:
If you have any concerns in relation to your service provider please contact WAAA on 0452 067 117.