Each new year presents its own challenges for a body corporate. Body corporate planning allows unresolved matters from the previous year to be attended to and for all the role players to reset for the year ahead. What pro-active planning can be done? Every year body corporate trustees must ensure that they deal with legislative requirements that make their scheme compliant. The trustees,...
There are very few bodies corporate that function effectively without a managing agent. The responsibilities placed on trustees can be onerous, requiring dedication as well as knowledge of sectional title legislation. To make matters worse, trustees are not paid for their time and often not appreciated. The impact of low fees on service delivery The appointment of a managing agent is contractual of...
While many schemes have their financial year-end in February or June, it will vary from scheme to scheme. Regardless of the month in which the financial year falls, a body corporate must prepare an administrative budget for submission at the annual general meeting (AGM). To do this, the trustees must plan to allow themselves the time to put together an...
While most bodies corporate rely solely on levy income, some try to find additional ways to bolster their income. One additional source is to rent common property to members of the scheme or to third parties. Who decides if common property can be rented? Trustees are responsible to manage, administer and maintain common property which collectively belongs to all scheme members in...
It is not uncommon for trustees and owners to be unsure about which rules are valid and enforceable in their schemes; some may not even be aware of their scheme’s rules. Changes to the sectional title legislation on 7 October 2016 has further added to the confusion. This is where the Sectional Titles Schemes Management Act (STSMA) is helpful in understanding...