Sectional Title Ownership – The Pain and the Pleasure
Sectional title life in South Africa has definite cost and security advantages, but also major “pain points” as regards financial risk and personal frustration – if you and your fellow sectional title owners (and trustees) don’t follow the rules.
This book has been compiled by HouseCheck to help you, the sectional title owner or trustee to: Understand your rights and so “Increase the pleasure and reduce the pain” of sectional title life.
This is an important book because many sectional title owners, trustees, and managing agents ignore aspects of the South African law which has been put in place to protect sectional title owners. The topics we cover in this book are:
- How to protect, and enhance the value of your sectional title property investment by
- Knowing your rights as an owner
- By attending AGMs and by insisting that the trustees of the body corporate do not cut corners, but rather comply with the sectional title regulations in a fair and open-handed way. These laws have been put in place for the protection of everyone. Sadly compliance is often an area of ignorance and neglect for many owners and trustees (and indeed managing agents).
- By following, the rules fairly and openly, trustees can reduce their fiduciary risk and also ensure that their governing role does not open them to personal attack and unpopularity within their sectional title community.
- By following the rules, the triple frustrations of sectional title life: “People, pets and parking” can be reduced to a minimum.
Why did HouseCheck produce this book? Simple really. HouseCheck’s vision is to ”build bridges of trust” within the property industry – by promoting knowledge and transparency.
Many body corporates are financially stressed because trustees don’t follow the rules and don’t systematically and fairly fund maintenance of the common property. When sectional title properties become run-down everyone suffers. Property values decline and frustrations grow as defects on the common property multiply.
The new Sectional Title regulations now requires all body corporates to prepare and fund a realistic 10-year Maintenance Action Plan for the common property.
HouseCheck stands ready to assist.
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