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...
For many owners in a sectional title scheme, attending the annual general meeting (AGM) is the only opportunity to participate in discussions and decisions concerning the complex. The trustees are responsible for arranging and running the AGM with the help of their managing agent. The changes made to the Sectional Title Act along with the establishment of the Sectional Title Schemes...
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...
The appointment of a body corporate chairperson rests with the trustees elected at each annual general meeting (AGM). This appointment is not made by the members in the scheme but by the elected trustees at the first trustee meeting following the AGM. The chairperson has many duties that they need to fulfil, least of which is to chair and run the...