12 Aug

Posted at 15:43h in Property

A sectional title scheme’s long-term success depends on more than just well-maintained buildings and happy residents; it requires a strong, stable financial foundation. Proactive property management plays a crucial role in ensuring that the scheme remains financially healthy, compliant, and resilient against unexpected challenges. Why financial health matters. The financial position of a sectional title scheme impacts every owner. A healthy balance...

21 Jul

Posted at 13:13h in Property

If you have recently acquired a property in a sectional title scheme, the thought of attending an annual general meeting (AGM) might feel overwhelming. However, this gathering is not just another administrative formality- it’s a crucial opportunity to stay informed, protect your investment, and have a say in how your complex is managed. Here’s what you need to know about...

22 Apr

Posted at 12:21h in Property

Attending an Annual General Meeting (AGM) is an important responsibility for owners in a sectional title scheme. Certain documents must be provided before the meeting to ensure that everyone is well-prepared. These documents help owners make informed decisions and participate effectively. Essential documents for owners to review before the AGM, as prescribed by the Act: Annual financial statements Owners must receive the...

18 Mar

Posted at 13:38h in Property

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...

02 Oct

Posted at 17:15h in Property

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...