27 Jan

Posted at 09:06h in Property

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...

19 Jan

Posted at 12:08h in Property

The fundamentals of sectional title schemes and home owners’ associations (HOA) are very similar. Both are community schemes with shared use of common property where owners pay a levy to the scheme as a contribution for common property expenses. There are differences between the two types of community schemes that are important to understand. Legislation The legislative laws that apply to sectional title...

21 Dec

Posted at 11:43h in Property

Bodies corporate need to pay continuous attention to its maintenance and financial responsibilities but around mid-December each year some may need a break from the daily management activities of the scheme. Taking a break should not be a problem if trustees and managing agents plan ahead. There are three key elements that should be considered and planned for, these are finance,...

15 Aug

Posted at 14:25h in Property

While sectional title plans look very simple in design, it is important to understand the meaning and implications of the lines on the plans. The plans further provide essential information that is required to calculate accurate participation quotas (PQ) as it indicates the size in square meters of each section in the scheme. In this blog post, we consider the information...

28 Mar

Posted at 13:17h in Property

Insurers of sectional title schemes have a love-hate relationship when it comes to geysers as a result of the frequency of claims and the costs involved. Geysers are insured in different ways: Some insurers specify the size of the geyser (in litres) and others the age of the geyser. In addition, insurers also limit the amount that can be claimed when...