The Standard Subscription
The Standard Subscription is the same as we have offered since we introduced our online cloud database in 2016. To find out why we use a subscription business model, look at this help page titled "why should I pay the subscription?".
The Rolling Update subscription
We introduced the Rolling Update subscription on 1 February 2023 to provide more cost-effective ongoing updates.
If a BC (or another property owner) pays the Rolling Update subscription, we will complete a desktop update of their LTMP every year. Typically this will be after the end of the BC's financial year and in time for the updated LTMP to be presented to the owners at the AGM for approval.
How does the Rolling subscription work?
We already have a record in our database of when the BC's financial year starts and ends. We are also aware that soon after the end of the financial year, Body Corporate and Building Managers begin to think about the budgets for the new year. Typically AGMs are held somewhere from six weeks after the end of the financial year, with the first notices going out to owners three weeks prior.
So in the first week or so after the end of the BC's financial year, if the BC has ordered the Rolling Subscription, we will send a notice to the nominated contact person and ask them for the information we need to update their LTMP at our desk.
As part of the notice, we will include a summary of the maintenance jobs planned for the financial year just ended and for the upcoming new financial year. The information we will be looking for includes,
Was the work planned last year carried out? If not, will it be rolled over?
Is it intended that the work planned for the new upcoming financial year will be carried out?
Is there any new work that needs to be included in the LTMP?
Should any other jobs scheduled be moved out or bought forward?
Is there any new information about the costs of work scheduled so we can update job costs? e.g. have any quotes been obtained?
What is the new opening balance of the Long-Term Maintenance Fund?
And anything else that is relevant, whereby the LTMP should be updated.
We will then update the LTMP with the information provided, roll over the dates and send a draft updated LTMP for consideration at the AGM. As usual, the BC can call for as many updates as needed until satisfied.
Then after the AGM, once the new updated LTMP has been approved, we will finalise it and lock it in the Plan Heaven app so it can't be accidentally altered until a new update is required and send a hard copy of the final approved plan to the BC.
There will be no additional fees for this desktop update. This work is covered in the cost of the Rolling Subscription.
Do all BCs qualify for this service?
We can only offer the Rolling Update subscription to those BCs that have appointed a Building Manager or Facilities Manager or have a committed Body Corporate Manager, Chairperson, Committee member or owner who is familiar with all of the maintenance that has been carried out and is planned to be carried out in the future.
The process requires that we accept the instructions from the representative of the BC to carry out the update and while we are able to offer advice and support as part of this service, it is not intended that we carry out our own investigations.
What does it cost?
From February 2023, we changed our fee pricing model to give better transparency and consistency to our fee structure. Within this new fee structure, the Standard Subscription is priced at 5% of the cost of a full setup of a Comprehensive LTMP (or a minimum of $140) for a development with the same number of units. The Rolling Update Subscription is priced at 10%. (or a minimum of $280)
As an example from 1 February 2023, the Standard subscription for a 30-unit BC is $175.00 plus GST per year and the Rolling Update subscription is $350.00 plus GST per year.
Updated 2 February 2023 by John Bradley
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The Plan Heaven team.
Disclaimer. Plan Heaven is not qualified in law and any comments made on this website are only the opinion of Plan Heaven and should not be regarded as legal advice. Our comments are merely providing some thoughts on how the legislation might be interpreted and how we go about attempting to meet its requirements. You should not rely on this information in isolation and do you own homework and at all times if you wish to be sure of your position relating to legal matters you should seek advice from a suitably qualified lawyer.