Funding and Treasury Archives | Page 2 of 5

25 June 2024 Funding and Treasury, Legal and Advisory, Webinars

Trustee and arrear levy lifelines

In today’s economy, managing a body corporate is more challenging than ever—just ask the trustees! Effective financial management is critical for any sectional title scheme, yet many bodies corporate find themselves in a cash flow deficit.

20 June 2024 Funding and Treasury

Financing options for community schemes

In Alice in Wonderland by Lewis Caroll, Alice asks the Cheshire Cat, “Would you tell me, please, which way I ought to go from here?”. The smiling Cheshire Cat responds, “That depends a good deal on where you want to get to.”

28 May 2024 Funding and Treasury, Legal and Advisory

Arrear levy collection reports: A checklist on what to include in the initial "hand over" instruction to attorneys

In continuation of our efforts to empower community scheme managers with essential knowledge for effective arrear levy collections, this blog post serves as a follow-up to our previous discussion on common legal terms used in collection reports. Building upon the foundation laid in that post, we delve deeper into the practical aspects of instructing attorneys for arrear levy matters.

28 May 2024 Funding and Treasury

Costs to look out for when buying into a Sectional Title Scheme

Buying your first home is an exciting milestone, but it's essential to approach it with eyes wide open, especially when considering a sectional title scheme in South Africa. While the allure of shared amenities and communal living may be appealing, there are hidden costs that first-time buyers often overlook, leading to financial strain and potential loss of investment.

23 April 2024 Funding and Treasury, Legal and Advisory

Common legal terms used in collection reports

A community scheme will usually instruct a firm of attorneys or a collection agent to handle its arrear levy collection matters. It is important that Managing Agents and Trustees understand the process involved so that they can make decisions and give further instructions as the matters proceed (as well as be able to answer questions at the next AGM).

28 March 2024 Funding and Treasury

Securing your investment: A guide to 10-Year maintenance plans for sectional title schemes

Owning property in South Africa is not just about acquiring a piece of land or a building—it's about safeguarding and nurturing that investment for the long haul. This holds especially true for sectional title schemes where communal living adds layers of complexity to property maintenance.

27 March 2024 Funding and Treasury, Legal and Advisory

When it’s urgent, who do you call and how? The trustees' resolution to call a Special General Meeting on an urgent basis

When determining the required notice period for a general meeting, the starting point should be to determine what business the body corporate seeks to conclude in the general meeting.

25 March 2024 Funding and Treasury, Legal and Advisory

Who foots the bill?

Some of the main reasons people invest in property in community schemes are the convenience and cost-effectiveness of shared responsibility and costs. However, who pays for what maintenance and repairs also result in some of the most heated debates regarding sectional title schemes (“schemes”).

23 February 2024 Funding and Treasury

Bridging the power gap: navigating municipal challenges and securing finance with STS

In a decisive move, the City of Tshwane launched a revenue-collection campaign, disconnecting electricity to non-paying customers in early February 2022. They've upheld their commitment to a "no fear, no favour" approach, targeting approximately 533 government accounts and 528 business accounts.

23 February 2024 Funding and Treasury

How to calculate your contributions to the reserve fund

In the past, many bodies corporate neglected to plan for unforeseen maintenance costs, leaving unit owners to foot the bill through special levies. However, since October 2016, bodies corporate are mandated to maintain a reserve fund, ensuring funds are available for common property upkeep.

Funding and Treasury