A long term maintenance plan helps residents and the managing agent plan and prepare for future expenditure.
Why is it needed?
We want to work with residents to plan for the future by producing an accurate service charge budget. Your property manager can use the long term maintenance plan to recommend service charge contributions. This helps leaseholders to plan financially and helps your property manager plan for maintenance and major works.
The plan will typically include:
- Visual survey of the exterior and interior of the property
- Grounds, outbuildings and infrastructure
- Budget for major items of expenditure
- Prioritisation and categorisation of repairs
- Calculations for service charges and reserve funds
- 10 year plans, updated every five years and reviewed annually