Making the Sinking Fund go that little bit further.
Body Corporate sinking funds are a vital piece of the Strata budget. Whilst buildings demand constant maintenance, once the ongoing upkeep costs have been paid, it’s important to ensure the money in the sinking fund is allocated to the most necessary piece of the maintenance puzzle.
Understandably, there are varying views of where any additional funds should be directed; the gardens could do with some landscaping, the plumbing could do with a refurb and isn’t it time to give the exterior a face lift with a fresh coat of paint? Whilst it would be ideal to tackle all of these issues as soon as they arise, some are more urgent than others (that burst pipe really needs attention) and often, painting is pushed to the bottom of the list as a “nice to have”.
Whilst there are many reasons why you should never let painting maintenance fall behind (without protective coatings structures could be compromised), Summit does offer a solution to drive that dollar further.
Our Simple Payment Options scheme allows Body Corporates to progressively pay for their recent works interest free, over a period of time. This means, the “urgent” jobs can be ticked off the list, whilst the’ coatings are maintained (and you have yourself a nice looking building, keeping owners smiling).
For more information about Summit’s Simple Payment Options, contact us today and we can discuss a solution which works for your Body Corporate.