body corporate levies Archives - Stonewood Properties

26 Nov How to deal with defaulting levy payers

Posted at 11:21h in Property

All the members in a sectional title development contribute to the scheme’s income which is used to pay its expenses. This may seem simple in theory but when a member starts falling behind in their levy payments, it can quickly escalate and put the scheme under financial strain. In this article, we take a look at how bodies corporate should deal...

12 Mar Can a body corporate still raise special levies?

Posted at 08:41h in Property

When the Sectional Titles Schemes Management Act no 8 of 2011 was promulgated in October 2016, many trustees and owners in sectional title schemes were under the impression that special levies were now a thing of the past. What lead to this impression was the obligatory requirement for a maintenance, repair and replacement plan (MRRP), compelling schemes to save for...