In this session, we focused on one of the body corporate’s most vital responsibilities: financial planning for the future.
We considered the Maintenance, Repair and Replacement Plan (MRRP), commonly known as the 10-year plan, which ensures that major capital items such as roofs, lifts, and waterproofing are properly budgeted for and maintained.
Next, we explored the administrative budget, which covers the scheme’s day-to-day expenses, from insurance and utilities to management and security.
Finally, we unpacked the key considerations when drafting these budgets, the legal requirements of the Sectional Titles Schemes Management Act, and the practical challenges trustees face in balancing affordability with long-term sustainability.
This training session was hosted by Leigh Maingard from Intersect, and took place on Monday, 29 September 2025.