The act of voting at body corporate meetings is what legitimises the implementation of the decisions taken. While it is the trustees’ responsibility to ensure that all votes are counted and recorded correctly, this function is generally delegated to the managing agent. The responsibility of keeping track of all the votes has dramatically increased with the changes in voting procedures at...
On 1 February 2022 the new Property Practitioners Act will commence. While this new consumer-driven Act aims to provide protection for consumers when purchasing, leasing, financing, renting or property, the requirements will be quite taxing for property practitioners. Below are a few changes of importance that the new law will bring to the industry. Property practitioners & Fidelity Fund Certificates The definition of...
Bodies corporate need to pay continuous attention to its maintenance and financial responsibilities but around mid-December each year some may need a break from the daily management activities of the scheme. Taking a break should not be a problem if trustees and managing agents plan ahead. There are three key elements that should be considered and planned for, these are finance,...
While sectional title plans look very simple in design, it is important to understand the meaning and implications of the lines on the plans. The plans further provide essential information that is required to calculate accurate participation quotas (PQ) as it indicates the size in square meters of each section in the scheme. In this blog post, we consider the information...
Parking bays and store rooms can be quite a controversial subject, especially when it comes to a unit being sold of which the owner has had the use of a parking bay or a store room. It is commonly assumed that such a parking bay or store room belongs to the seller and they have the right to sell it...