Definition of an Executive Managing Agent Essentially an Executive Managing Agent is one that takes over control of a Body Corporate in place of the Trustees. This is the case when the trustees cease to exist. The role of the Executive Managing Agent is to run the building as a professional in place of the […]
Why are small schemes not getting the best Property Manager? Small schemes must be run in much the same way as larger schemes but there are economies of scale.
Body Corporates are run according to the Sectional Titles Management Act. The basis of which is that every owner is automatically a member of the body corporate and that levies are paid in the same ratio as the registered PQ. There is no option to opt out. No owner can decide that he does not […]
Body Corporate of Marine Sands v Extra Dimensions 121 (Pty) Ltd, interpretation of the expression ‘adversely affected’ in s 32(4) of the Sectional Titles Act 95 of 1986.
It is your responsibility as an owner or tenant to know the managing agent in your sectional title complex. This includes understanding their role to use the knowledge to better increase the property value. Managing agents are appointed by the Trustees, who enforce all the duties and responsibilities of the Body Corporate. They are responsible […]
A great property complex that you moved into because it allowed you to be close to your work and everything that you love can quickly turn sour when you receive an envelope from your body corporate. Your first thought is that it might be a reminder for an upcoming meeting. But you are shocked when […]
One of the major challenges facing new owners who have bought into a Sectional or Full Title Schemes is that they are not informed about what a levy is or how it is calculated.
Access to the property market is restricted to those with deep pockets and is difficult even for those trying to buy affordable entry level units. Much of the current market is made up from existing and older properties and in the South African contexts, many of these existing opportunities give poor returns, are not in good condition and are not suitable for modern living.
SCHEDULE ARRANGEMENT OF SECTIONAL TITLES SCHEMES MANAGEMENT REGULATIONS 1. Definitions 2. Minimum amounts for reserve funds 3. Other risks to be insured against 4. […]
Managing your condo without the help of an industry specific software is not easy, not even for specialists.