Once a body corporate already holds substantial funds in reserve, do they need to keep contributing to the maintenance reserve? In this blog, we address this question about reserve funds. What does the Act say? Naturally, owners do not want to make unnecessary payments, especially considering that the fact that when they sell their apartment, they will not be able to withdraw...
One of the most common concerns for potential sectional title buyers include the purchase price of the unit paired with likely rental return on investment. As an owner-occupier, the focus is different as it is generally focused on the scheme’s performance and the people entrusted to run the affairs of the body corporate. Before you buy into a sectional title scheme,...
Sectional title is filled with procedural requirements that need to be followed by owners, trustees and the body corporate to achieve certain objectives. Extending a section or improving an exclusive use area (EUA) falls within specific requirements of the Act. It is important to note the difference between the two and what is required for each of them. Extending a section A section...
While installing pre-paid meters or sub-meters mostly sound like a good idea, the reality is that many bodies corporate opt not to implement meters. The most common reasons include timing issues, the costs associated with the installation and the inconvenience to owners during the installation period. Part 7 of the Sectional Titles Schemes Management Act Regulations deals with the physical management...
Home security has become an all-important factor for South Africans to consider in their daily lives. The growing need for both domestic and commercial security created a massive industry that offers an ever-increasing range of security measures. No obligation to secure When reviewing the Act, it is evident that there is no obligation on trustees or owners to secure the scheme or...