What an Annual Budget Tells You About the Health of Your Scheme An Annual Budget isn’t just numbers — it’s a window into the financial health of your Scheme. Here’s what a well-prepared budget reveals: Operational Coverage: Does the administrative budget account for...
Special Levies: When and Why They’re Raised. Ever been hit with a Special Levy and wondered why? Special Levies are once-off charges raised outside of the usual budget — and they serve a specific purpose. Here’s when they’re typically needed: Emergency Repairs – When...
Why Compliance Isn’t Optional in Sectional Title Living. Living in a Sectional Title Scheme means there are legal and governance structures to follow - and compliance isn’t optional. Here’s why it matters: Legal Requirements – The Sectional Titles Schemes Management...
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...
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...
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. 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? 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? 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? 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....