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What expenses does a sinking fund cover?

The money in sinking funds can be used to cover strata building expenses for common areas of the property, such as:

  • Painting
  • Lift repairs or upgrades
  • Driveway replacement or refurbishment
  • Fencing repairs or replacement
  • Replacing, fixing or upgrading common property such as carpets, roofing and guttering
  • Any other emergency expenses

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