A Long Term Maintenance Plan provides for those who are benefiting from a well-maintained building provided by previous contributors to contribute towards future maintenance of the property for the benefit of all concerned.
The Maintenance Plan Levy is assessed taking into account expenditure required to maintain the property in good condition.
Our Long Term Maintenance Plan process includes
- A detailed analysis of the structure, fabric, finishes and equipment to determine the expected repair/replacement needs at the associated costs.
Our reports can include
- An analysis of recurring maintenance and inclusion of these requirements into the plan.
- The Maintenance Plan can then be monitored by PMA on a yearly basis to ensure compliance
- The levy assessed over 10 years and extrapolated over 25 years to arrive at a realistic figure. The levy should be reviewed every year and adjustments made biannually, so that developments in technology and building and equipment wear can be taken into account
- The maintenance plan levy will be assessed taking into account expenditure required to maintain the property in good condition.
The maintenance plan is independent of the administration fund, which is for recurrent expenditure eg. power, caretaking, regular maintenance etc