Are waterproofing and roof repairs an administrative expense or a capital works fund item? – Lynette, NSW
Does waterproofing & roof repairs fall under maintenance (thus being an admin expenses) or are they a capital works fund expense?
– Lynette, NSW
According to NSW Fair Trading, waterproofing and roof repair work is classified as a major renovation, requiring a strata committee to authorise expenditures and decide what actions need to be taken.
Major repairs and maintenance to common property come under the Capital Works Fund. Waterproofing and roof repair may be planned and included in your strata property’s 10-year plan.
You may contact your owners corporation or your secretary can provide you with clarity on whether waterproofing and roof repair works have been scheduled and budgeted for your property.
For more information on major capital works, read our article here.