Homeowners’ associations (HOA), or estates, as they are commonly referred to, differ from sectional title schemes in a number of ways, offering a few attractive advantages. Let’s consider a few of the most significant advantages of living in an HOA: Lower monthly levies Levies are typically lower than sectional title schemes as contributions are limited to common property expenses such as...
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...
Homeowners’ associations (HOAs) and sectional title schemes are referred to as community schemes. There are many differences between these types of schemes; in this blog, we will mainly focus on the laws that govern these two types of schemes and how to amend their rules. The laws that govern HOA Homeowners’ associations (HOAs) can either be subject to a constitution (in the...