What is the Reserve Fund and Why Does It Matter?
A Reserve Fund is a critical financial resource for any Community Scheme, ensuring there’s money set aside to cover the cost of future maintenance and repair of common property.
It is specifically for:
- Major Repairs – Roof replacements, structural repairs, and other large-scale maintenance tasks.
- Future Maintenance – Planned upkeep of common property to preserve its condition and value.
A well-managed Reserve Fund helps avoid unexpected financial strain or the need for special levies, ensuring that your Scheme is prepared for future maintenance requirements.
Important Note: A Reserve Fund is not for emergencies. It’s meant for anticipating and budgeting for future repairs and maintenance.
With our transparent and effective Reserve Fund management, your Community Scheme will always stay on top of its financial planning.
Read this before preparing a maintenance, repair and replacement plan
Ageing Infrastructure: How Good Maintenance Builds a Better Community Scheme