An Owners Corporation maintenance plan covers a number of items, which include:
- Major capital items for repairs and/or replacement over the next 10 years
- The present condition of those items
- When the items or components will need to be repaired or replaced
- The estimated cost of their repair and replacement
- The expected life of those items or components once repaired or replaced.
A Maintenance Plan must be implemented if your Owners Corporation has an annual general levy of $200,000 or more or has 100 Lots or more.