Sinking Fund Forecasts are regulated in Queensland by “The Body Corporate and Community Management Act 1997”. At the Annual General Meeting the owners are presented with the body corporate budgets of income and expenditure to approve based on the budget and to:
Fix the contributions that are levied.
Set the dates for payment of the levies.
DEVELOPING THE SINKING FUND FORECAST
The following is taken into consideration when preparing a Sinking Fund Forecast.
List all the common property
These may include letterboxes, intercom, lighting, swimming pools, pool heaters and equipment, gardens, pergolas, driveways,
Concerns over real estate sales as new pool safety deadline looms
WITH the hot weather continuing into autumn, Queensland swimming pools have been getting an extended workout. But down south, it’s the pool owners – and in particular those wanting to sell – who are feeling the heat as an April deadline approaches.
While existing pool owners in the Sunshine State have up until the end of November 2015 to comply with tough new safety standards for swimming pools and spas, those in New South Wales have only a matter of weeks left.
Under new regulations, after the end of April, the sale or lease of a property with a swimming pool or spa in our neighbouring southern state can be rescinded, u
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