A body corporate is required to hold its annual general meeting (AGM) within 4 months after the end of its financial year. The meeting notice should be sent out at least 14 days prior to the meeting. All meetings other than the AGM are called special general meetings (SGM). The notice period required to hold SGMs is 30 days but this...
Conduct rules are rules that have been created to encourage harmonious living in a sectional title scheme and to uphold the standards by which the buildings and other areas in a scheme are maintained. There are eight prescribed conduct rules as laid out in the Sectional Titles Schemes Management Act; they are: Keeping of animals, reptiles and birds Refuse and waste...
Maintaining the common property in a sectional title scheme is the body corporate’s responsibility. The scheme’s annual budget must make provision for both planned and unplanned maintenance during the financial year. Does this budget have to include provisions for maintenance to windows in the scheme? Bodies corporate often neglect to make the necessary provisions for this kind of maintenance resulting in a...
Being a trustee in a sectional title scheme is by all accounts a thankless job for which there is usually no payment offered. Why then, do people make themselves available to perform the duties of a trustee? Why be a trustee? Trustees are generally owners in a sectional title scheme who want to be involved in the day-to-day management of the complex....
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,...