When it comes to the Sectional Title Schemes Management Act (STSMA), the Community Schemes Ombud Service (CSOS) and the Community Schemes Ombud Service Act (CSOSA), it is generally understood that the STSMA and CSOS applies to sectional title schemes; however, there is some confusion as to whether it applies to homeowners’ associations (HOA). Since the CSOS is a body that provides...
Changes to the Sectional Titles Schemes Management Act 8 of 2011 (STSMA) on 7 October 2016 made fidelity insurance compulsory for bodies corporate. This means that the body corporate must insure itself against the potential loss of its funds by way of fraudulent or dishonest conduct by the trustees, managing agent or anybody who has access to these funds. Before the...
Being a property manager – or more accurately a portfolio manager – can be a thankless job. The reality is that most of our calls involve clients complaining about something that is wrong at their building but this is our job: we have to serve our clients with patience, humility and compassion. We accept that our role is essentially to...