Template – Condition Report for the Common Property

R24.90 incl. VAT

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Description

A body corporate is obliged to budget for work on the common property in the next financial year and also to prepare a Maintenance, Repair and Replacement Plan for future work on the common property in the next 10 years. The MR&R Plan is designed to show what amounts the body corporate needs to budget as reserves to cover the cost of the work.

This form is designed to gather information on the current condition of the common property and costings for future works which must be included in the MR&R Plan.

Law: Section 3(1)(b) of the STSM Act, PMR 22.