New Rules for Initial Maintenance Schedules: What Developers Need to know Before 1 April 2026

NSW Fair Trading has confirmed that new requirements for Initial Maintenance Schedules (IMS) will begin on 1 April 2026. These reforms are designed to strengthen developer accountability and ensure new strata schemes start with realistic budgets, clearer maintenance obligations and better long-term planning.

A key change is that IMSs are now standardised. Developers must use a mandatory NSW Fair Trading Standard Form, which means every new scheme will have its maintenance obligations documented in a consistent way. Just as importantly, the first capital works fund (CWF) budget must be built from that IMS, so the schedule is no longer a box-ticking exercise – it directly shapes the scheme’s first year of levies.

For strata managing agents, these changes create an important opportunity to guide developers early, reduce last-minute compliance issues and help schemes avoid budget shock in their first year.

Here is what developers must prepare for.

What changes on 1 April 2026

At present, developers must provide an Initial Maintenance Schedule to the owners corporation at least 14 days before the first AGM. From 1 April 2026, the IMS must be completed using the mandatory Standard Form published by NSW Fair Trading.

This Standard Form cannot be altered. It requires detailed information for every item of common property, including maintenance requirements, inspection frequency, expected costs, manufacturer details, installer details and supporting documents such as warranties and manuals.

Extra obligations for multi-storey schemes

Stricter rules apply when the building has three or more storeys above ground level with at least one lot located above another. In these schemes, developers must:

1. Engage an independent surveyor

The surveyor must certify that the IMS has been prepared correctly using the Standard Form.

They must also review the developer’s initial levy estimates and certify that those estimates reflect expected expenses for the first year after the AGM.

2. Provide evidence at least 14 days before the AGM

The owners corporation must receive written evidence confirming that:

• the IMS uses the mandatory Standard Form
• the administrative and capital works fund levies are realistic for the year ahead
• the surveyor is fully independent of the developer

Only a Certified Quantity Surveyor (AIQS) or a Chartered Quantity Surveyor (RICS) can perform this role.

Substantial penalties apply if developers fail to meet these obligations.

Download our IMS Checklist

What this means for strata managing agents

These reforms shift a greater share of early financial responsibility back onto developers. They also create a clear opportunity for strata managers to add value by:

• notifying developers early so they can prepare well before the first AGM
• ensuring the IMS is delivered using the correct Standard Form
• checking that independent certification has been completed for multi-storey schemes
• confirming that evidence has been provided 14 days before the AGM
• guiding developers on realistic levy preparation to avoid disputes at handover

Many developers are not yet familiar with these stricter requirements. Proactive communication from strata managers early in 2026 will reduce compliance risk and help schemes avoid costly delays.

What makes a strong Initial Maintenance Schedule

The new Standard Form requires detailed information for every common property asset. A well prepared IMS should include:

• a clear list of all common property items
• specific maintenance tasks, not generic descriptions
• realistic inspection intervals based on manufacturer instructions
• documented cost estimates for each task
• supporting warranties and manuals
• installer details for future reference

A poorly prepared schedule creates budget issues for the first AGM and increases the likelihood of disputes later. A strong IMS sets the tone for proper asset care from day one.

How Premium Strata can help developers

Our team works closely with developers at the handover stage and understands the gaps that commonly lead to compliance issues or tension with new owners corporations. We can support you by:

• providing the correct IMS Standard Form
• guiding you through best practice when completing the schedule
• reviewing documentation early to prevent last-minute problems

Download our Checklist

It covers what to prepare before completing the IMS how to fill in the Standard Form correctly, the extra steps for multi-storey schemes, and what must be provided 14 days before the first AGM.

If you have projects completing in 2026, contact us early so we can help you meet the new requirements smoothly and efficiently.

What Owners Corporations and Committees Need to Know

These new IMS rules form part of the broader strata reforms introduced last year. Together, these changes aim to improve transparency, accountability and financial fairness across all strata schemes.

For Owners Corporations, Committees and individual owners, it is important to understand how these updates affect your responsibilities and what you need to do to stay compliant.

Key areas to be aware of include:

• using the new Standard Form for 10 year capital works fund plans when your next plan is due
• ensuring levy estimates are realistic and aligned with expected maintenance requirements
• confirming that any IMS provided by the developer meets the new mandatory standards, including certification for multi-storey schemes
• reviewing all evidence supplied before the first AGM to make sure it satisfies legislative requirements
• keeping accurate records, warranties and supporting documentation for future maintenance and budgeting decisions

These changes strengthen early planning and help schemes avoid financial shortfalls in their first years. Committees should ensure they familiarise themselves with the new obligations and seek professional guidance where needed.

Download Your NSW Strata Law Changes Checklist

A clear, step by step checklist is available to help Owners Corporations understand the updates and confirm compliance across the 2025 and 2026 reforms.

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