Serving as a trustee in a sectional title scheme is a significant responsibility. Trustees are entrusted with managing the affairs of the body corporate, ensuring financial stability, and making decisions that affect all members. However, with this authority comes potential legal and financial liability. Understanding your duties and taking proactive steps can help mitigate risks and ensure you fulfil your...
For trustees and owners in sectional title schemes, effective maintenance planning is essential to ensure the long-term value of the property and prevent costly repairs. Maintenance isn't just a responsibility – it’s a legal obligation under the Sectional Titles Schemes Management Act, which requires the establishment of a 10-year maintenance, repair, and replacement plan. Why is maintenance planning important? It preserves...
In sectional title schemes, disputes over unpaid levies are all too common, leading to a big question: Can bodies corporate cut off the electricity of owners who fall behind on payments? Earlier this year, the Gauteng High Court tackled this issue in two cases, offering insight into the legal complexities involved. A closer look In 2022, a case came before the court...
As South Africa's real estate landscape continues to evolve, lifestyle estates have emerged as a prominent choice for those seeking a harmonious blend of luxury living and recreational amenities. The future of lifestyle estates in the country is poised for exciting transformations, with a focus on essential amenities, prudent financial investments, and the creation of conducive environments for an enhanced...
The body corporate is obligated to carry out the responsibilities assigned to it under the Sectional Titles Schemes Management Act (‘STSMA’) or in accordance with the rules, with the aim of establishing and sustaining an administrative fund that adequately covers the estimated annual operating costs for the repair, maintenance, management, and administration of the common property. Administrative budget The creation of a...