levies Archives | Sectional Title Solutions

18 December 2024 Legal and Advisory

Do banks have a responsibility for levy contributions? A South African perspective

In the state of New South Wales (NSW), Australia, legislation imposes specific responsibilities on banks and other financial institutions, when they take possession of sectional title units (referred to as ‘strata lots’) after foreclosure.[1]

29 October 2024 Funding and Treasury, Legal and Advisory

Understanding sectional title levies: A comprehensive guide for trustees and managing agents

In the world of sectional title ownership, levies are a critical financial mechanism that ensures the proper functioning and maintenance of shared spaces and facilities.

29 October 2024 Funding and Treasury, Legal and Advisory

Understanding levy statements and accuracy in sectional title schemes

In the realm of sectional title schemes in South Africa, accurate levy billing is crucial for maintaining financial transparency and fostering trust among owners. Levy statements, which outline the contributions required from each owner to support the scheme's financial health, can sometimes lead to disputes if they are inaccurate.

26 September 2024 Funding and Treasury, Legal and Advisory

The annual budget: your roadmap to financial stability

“I wonder which way I ought to go!” - Alice in Wonderland. Unlike Alice’s approach for a body corporate, its trustees, unit owners, and managing agents, managing a sectional title scheme making this type of crucial decision, requires careful financial planning.

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

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.

25 August 2022 Legal and Advisory

Court finds withholding levies = grasping at straws

Most of us know that purchasing a unit in a community scheme would require the payment of levies. However, a defaulting unit owner attempted to justify the withholding of levies and contested the interest charged on the arrear amounts in a recent Western Cape High Court case. The court found that the defendant’s arguments amounted to “grasping at straws”.

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