Elderflower
Registered User
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I live in a large apartment complex with a number of blocks requiring fire stopping repairs.
The works need to be done in 2 phases as there is not enough money to pay for the entire complex at once.
The OMC are proposing that we use the majority of the sinking fund to fund the cost of the works needed.
There are some larger blocks than others, with costs significantly higher than others.
OMC are suggesting that the larger blocks are done first which would leave us with aprox 40K left in our sinking fund.
Would it be wiser to do the smaller blocks first and therefore more in the sinking fund or are they right in doing the larger ones first as it may significantly reduce insurance costs and savings here used for getting the rest done in the following years.
Has anyone any experience or advice on this/ Pros and cons
The works need to be done in 2 phases as there is not enough money to pay for the entire complex at once.
The OMC are proposing that we use the majority of the sinking fund to fund the cost of the works needed.
There are some larger blocks than others, with costs significantly higher than others.
OMC are suggesting that the larger blocks are done first which would leave us with aprox 40K left in our sinking fund.
Would it be wiser to do the smaller blocks first and therefore more in the sinking fund or are they right in doing the larger ones first as it may significantly reduce insurance costs and savings here used for getting the rest done in the following years.
Has anyone any experience or advice on this/ Pros and cons