As trustees who have recently obtained a judgment against an owner in respect of arrear levies, you may be considering how to effectively enforce this judgment. STS receives numerous queries on a regular basis regarding the recovery of arrear levies, which can be a complex process, especially after obtaining a court judgment.
After judgment against an owner for arrear levies has been obtained, one of the critical steps in the execution process is initiating a Section 65 financial enquiry in terms of the Magistrates' Courts Act No. 32 of 1944.
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.
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.”
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.
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).
The current economic climate has taken a toll on people's finances and mental well-being. Rising interest rates and increased cost of living left individuals struggling to make ends meet.
In this blog, we continue our series on tips for bodies corporate to navigate a financial crisis. (See part I and part II). As body corporate members, unit owners are legally bound to pay their monthly levies. However, tough economic times can result in homeowners falling into arrears.
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