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...
Making provision for reserve funds in the annual budget of a body corporate has always been a bit of a guessing game for trustees. Some trustees preferred to keep the levies as low as possible and to rather raise a special levy when the need arises as opposed to maintaining higher levies that secured a sufficient reserve fund over time...
The sectional title industry has changed dramatically since 6 October 2016 – the day the new Sectional Titles Schemes Management Act took effect. The responsibilities placed on trustees and specifically on managing agents have increased overnight. Managing agents aiming to stay relevant in the sectional title industry had to quickly familiarise themselves with new legislation and operational procedures. A recent seminar presented...
When a body corporate is established, the first point of business is to have an inaugural meeting where certain relevant issues are tabled and agreed on by the developer and the members of the scheme. This meeting must take place within 60 days of the registered establishment date of the scheme. At the inaugural meeting, the financial year end of the...