Let’s start here by appreciating the relationships of a Master Maintenance Program’s elements
Notes about Maintenance Elements & Modules
Refers to those items that need ongoing periodic attention & upkeep, for example –
Fire Alarm Systems, Elevators, Carpeting, Electrics, Dryer Vents, Windows, Gutters, Grounds, Irrigation, Building Envelope generally.
These items are budgeted as line items expenses in the annual Operating Budget.
A Depreciation Report must be produced every 5 years by an accredited, licenced professional to assess the condition and remaining life of all Strata Common Property Components, and to suggest what financial contributions should be made to ensure adequate funding for necessary repairs or replacement over the coming 30 years.
“Big Ticket” capital items such as elevators, roofs, flooring, fencing are the main types of components addressed in a D.R.
A practical Organised Master Maintenance Program will focus of components’ requirements for the immediate 5-year outlook, which involves “Adaptation and Implementation” of the D.R. The process and toolsets for carrying out an Adaptation & Implementation exercise can be viewed here...
‘TO-DO’ items are usually those unforeseen matters that generally involve minor repairs or ‘tidy-up’ projects. Often these entries consist of just a ‘reminder note’ that something warrants being looked into when the opportunity arises. But if maintenance activity is likely, the item should be logged in the overall Master Maintenance Program.
This module is the starting-point for compiling an organised Master Maintenance Program.
Here a custodian can create, store and maintain individual detailed records and histories of each item and component of the Master Maintenance Program. It forms the ‘Knowledge-Base’ of all the strata’s physical assets and components.
The Master Maintenance Program produces a ‘spreadsheet’ report that is derived from all the selected components items entries which have been documented and notarised in the Knowledge-Base module of the CondoComponents package.
The individual components items and data fields are maintained / updated as required by logging in to your strata’s dedicated website, and accessing the required Knowledge-Base entries.
The Maintenance Program spreadsheet can be viewed as a “Dashboard” page, and downloaded to be saved / filed / shared / printed as desired.
Most Cyclical Maintenance items costs are factored into the annual Operating Budget as “known events” whose costs can be fairly accurately foreseen.
Other maintenance items that typically draw from the Operating Budget expense account are irregular ‘TO DO’ items. Most of these are allocated to ‘General Maintenance’ accounts lines.
The Contingency Reserve Fund budget is set in accordance with future funding requirements as identified and assessed in the Depreciation Report.
For our purposes here in setting strata fees to meet the required financial contributions, we ‘Adapt’ the D.R. recommendations to the coming 5-year outlook for capital components maintenance, and reflect these works in our Master Maintenance Program.
Where the “rubber hits the road” in all maintenance works is the costs impacts on Strata Fees.
Which is why the Knowledge-Base ground-work that goes into compiling an organised “Master Maintenance Program” is so essential.
Sleepwalking into un-provided costs provisions for repairs & replacements can cause severe financial distress for strata owners when special levies, loans and/or steep increases in strata fees are necessary.
Averting these distressing situations is what the CondoComponents suite of strata property components knowledge & maintenance modules are designed to accomplish.