On 14 March 2013 the following amendments were published stated to come into effect on 14 April 2013. • Prescribed Management Rule 7 was amended by adding the following sentence: “Provided that no nomination or appointment as trustee, of a person in breach of rule 64(1) or 64(2), may be accepted” What this means is that […]

When a sectional title scheme is mismanaged it has widespread repercussions, typically manifesting as cash flow difficulties with levy income not meeting expenses, high levy arrears, outstanding maintenance, municipal service interruptions and rapidly declining property values. Examples of major implications arising from property mismanagement are: • The buildings can become run down and unsightly – even

Buying a sectional title unit requires a specialised estate agency service focus. All too often a generic approach with potentially significant complications, is delivered. Purchasing a sectional title unit entails purchasing an undivided share in the common property as well, together with membership of the body corporate as provided for by the Sectional Titles Act.

The new Companies Act came into force on 1 May 2011. All of the new Act’s provisions to do with directors’ duties, conduct and liability, members’ rights to receive notice or have access to information, directors’ and members’ meetings and the adoption of resolutions automatically applied from that date. Any other provisions of the company’s

The 2013 General Valuation Roll has been released for public inspection and comment since 20 February 2013.  It will remain open for inspection until 3 May 2013.  It is the responsibility of every property owner to check the municipal property valuations ascribed to their respective properties and if the valuation is not in line with market value,

AN EMPLOYEE OR MANAGING AGENT OF A BODY CORPORATE IS DISQUALIFIED TO ACT AS A TRUSTEE UNDER CERTAIN CIRCUMSTANCES Prescribed Management Rule 5(b) stipulates that a Managing Agent or any of his or her employees or an employee of the Body Corporate may not be a trustee unless he or she is an owner. It

Sectional Title Schemes Management Act (STSM Act)(Act 8 of 2011) & Community Schemes Ombud Service Act (CSOS Act) (Act 9 of 2011) Both these Acts were signed by the President in mid-2011, but 2012 has come and gone we are still awaiting them to become operational. The STSM Act does not repeal the current Sectional

To all HOA directors this is a particularly important article as sourced from the CA(SA).News: The Companies Act of 2008 (“the Act”) requires that directors live in an era of transparency and accountability, and they can face severe consequences if they cannot show they have applied their minds when situations go awry. Thus, it is

FOR THE ATTENTION OF HOMEOWNERS ASSOCIATIONS THAT ARE NON-PROFIT COMPANIES MEMORANDUM OF INCORPORATION (MOI): THE 30 APRIL 2013 DEADLINE IS APPROACHING! One of the transitional arrangements of the 2008 Companies Act (the Act) was that businesses had two years to migrate from their constitutional documents (‘Memorandum and Articles of Association’ for a company) to the new

Construction to start on next 70 000m² of Waterfall Business Estate As published by SA Property News Atterbury has started the next 70 000m² of development at Waterfall Business Estate. Waterfall is a massive 330 ha mixed-use development spanning both sides of the N1, from Woodmead Interchange through the bustling Buccleuch Interchange to Allandale Interchange. It