Managing a sectional title body corporate can be complex, requiring regular checks to keep the scheme updated on its legal obligations. While trustees and managing agents should work together on these tasks, trustees are ultimately responsible for the management of the scheme and having a checklist of tasks can ease the process. This blog focuses on the most important items that...
With the promulgation of the Community Schemes Ombud Service Act of 2011 (the Act), community schemes and its members are given an alternative forum where they may resolve their differences. Disputes between owners, with the trustees or with the managing agent may be lodged with the Ombud service for conciliation. The functions of CSOS The Community Schemes Ombud Service has a juristic nature,...
It is a common myth that exclusive use areas do not form part of the common property. The truth is that exclusive use areas (EUAs) do form part of the common property; however, the owner has exclusive use of this area – for example, an enclosed garden. The Sectional Titles Schemes Management Act No 8 of 2011 determines that it...
Once a body corporate already holds substantial funds in reserve, do they need to keep contributing to the maintenance reserve? In this blog, we address this question about reserve funds. What does the Act say? Naturally, owners do not want to make unnecessary payments, especially considering that the fact that when they sell their apartment, they will not be able to withdraw...
One of the most common concerns for potential sectional title buyers include the purchase price of the unit paired with likely rental return on investment. As an owner-occupier, the focus is different as it is generally focused on the scheme’s performance and the people entrusted to run the affairs of the body corporate. Before you buy into a sectional title scheme,...