Articles
A Simple Guide for Newly Elected Trustees
Trustee Duties 101 – A Simple Guide for Newly Elected Trustees Elected as a Trustee in your Sectional Title Scheme? Here’s a simplified guide to help you get started: Key Responsibilities: - Manage the finances and maintenance of the Scheme. - Enforce the Conduct...
The Importance of Inspecting a Scheme’s Financials before buying
Why It’s Important to Inspect the Scheme’s Financials Before Purchasing Buying into a Sectional Title Scheme? Make sure you're not just looking at the property — take a close look at the Scheme’s financials too. Here’s why: Hidden Risks – A beautiful property can hide...
Bond Costs Explained
Understanding Bond Costs: What to Expect When Applying for Your Loan Applying for a bond can seem overwhelming, but knowing what costs to expect can help you navigate the process more smoothly. Here’s a breakdown of the key bond costs: Initiation Fee – A once-off fee...
Benefits of Individual Water Meters
Why Individual Water Meters Make Sense in Sectional Title Schemes Did you know that installing individual water meters in your Sectional Title Scheme can benefit both the Body Corporate and owners? Here’s why more schemes are making the switch: Fair Billing – Pay for...
The Essential 10-Year Maintenance Plan: Protecting Your Sectional Title Scheme.
The Essential 10-Year Maintenance Plan: Protecting Your Sectional Title Scheme. Did you know that a 10-year maintenance plan isn’t just a recommendation—it’s a legal requirement under the Sectional Titles Schemes Management Act (STSMA)? Beyond compliance, it’s a...
Do You Know What Your Levy Pays For?
Do You Know What Your Levy Pays For? Your monthly levy is essential to the smooth operation and upkeep of your Sectional Title Scheme or Homeowners Association. It covers the collective costs of running and maintaining the Scheme, ensuring that all owners benefit...
Did You Know Your Garden in a Sectional Title Scheme Isn’t Actually Yours?
Did You Know Your Garden in a Sectional Title Scheme Isn't Actually Yours? In a Sectional Title Scheme, you own your section, which refers to the internal part of your unit. All external areas, including your garden, are considered common property. Your garden may be...
Do You Know the True Costs of Owning a Property?
Do You Know the True Costs of Owning a Property? Owning property is a significant investment - but beyond your bond repayments, there are several ongoing costs every owner should be aware of, especially within a Community Scheme: 1. Bond Repayment for your home loan....
Do You Know the Key Role Players in a Sectional Title Scheme?
Do You Know the Key Role Players in a Sectional Title Scheme? Understanding the key role players within a Sectional Title Scheme is essential for effective Scheme management and smooth day-to-day operations. Each role comes with specific responsibilities designed to...
Here’s Why a Valuation Every 3 Years Is Essential.
Is Your Scheme Properly Insured? Here’s Why a Valuation Every 3 Years Is Essential. In South Africa, Sectional Title Schemes are legally required to conduct a valuation at least once every three years to ensure adequate insurance cover. But why is this so important?...