Making provision for reserve funds in the annual budget of a body corporate has always been a bit of a guessing game for trustees. Some trustees preferred to keep the levies as low as possible and to rather raise a special levy when the need arises as opposed to maintaining higher levies that secured a sufficient reserve fund over time...
The sectional title industry has changed dramatically since 6 October 2016 – the day the new Sectional Titles Schemes Management Act took effect. The responsibilities placed on trustees and specifically on managing agents have increased overnight. Managing agents aiming to stay relevant in the sectional title industry had to quickly familiarise themselves with new legislation and operational procedures. A recent seminar presented...
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...