maintenance repair and replacement plan Archives

30 Oct Your body corporate has a 10-year maintenance plan; now what?

Posted at 11:21h in Property

Sectional title legislation requires all sectional title schemes to have a 10-year maintenance plan, also referred to as a maintenance repair and replacement plan (MRRP), which estimates the maintenance cost required by year over a period of 10 years. This plan does not generally include day-to-day maintenance items as those are allocated to the administrative budget. Let’s consider why a 10-year...

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...