financial management Archives - Stonewood Properties

12 Aug How good property management keeps sectional title schemes financially strong

Posted at 15:43h in Property

A sectional title scheme’s long-term success depends on more than just well-maintained buildings and happy residents; it requires a strong, stable financial foundation. Proactive property management plays a crucial role in ensuring that the scheme remains financially healthy, compliant, and resilient against unexpected challenges. Why financial health matters. The financial position of a sectional title scheme impacts every owner. A healthy balance...

22 Nov How to manage the body corporate’s funds effectively

Posted at 09:19h in Property

The body corporate is obligated to carry out the responsibilities assigned to it under the Sectional Titles Schemes Management Act (‘STSMA’) or in accordance with the rules, with the aim of establishing and sustaining an administrative fund that adequately covers the estimated annual operating costs for the repair, maintenance, management, and administration of the common property. Administrative budget The creation of a...