See www.dbh.govt.nz to download a template long term maintenance plan for a complex or simple body corporate.
These plans are now compulsory for a body corporate and will need to be provided by a unit owner to a purchaser if they ask for additional disclosure. Long term maintenance funds are however optional and the body corporate can choose to opt out of this requirement. Decisions about what maintenance to attend to are still decided at the AGM, using the plan as a guide.
By Denise Marsden