Sinking fund
 
A sinking fund is a fund that the owner of a property builds up over time, and is used to pay for the repair and replacement of major items within common areas only.

This ensures that our customers will not face a disproportionately high bill each year; instead the property owner has the sinking funds available to meet heavy expenditure when necessary.

Money for the sinking fund is collected in the same way as a service charge, however, it is not reconciled, instead a statement of account is prepared, and the money will be held by the owner in a separate bank account.