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Sectional title corner – On what levy is the CSOS actually calculated?

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Q

Good day, I followed your notice regarding payment of CSOS levy and how to work it out. We are not sure whether CSOS levies are worked out on full monthly levy or only administrative levy

Can you please assist me herein? Thanks – Martie

A

Hi Martie, please note that the CSOS levy is calculated on the full levy exclusive of the maintenance or reserve levy.

Note: Schemes that would benefit from using a CSOS scheme levy calculator can email mariette@hometimes.co.za to have the calculator emailed to you


Got a burning question? Email mariette@hometimes.co.za and we’ll be sure to assist you


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PetraAnswered by Petra Lewis, portfolio manager at Belmont Property Management

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ungerermariette@gmail.com

Mariette Steynberg is a qualified economist with a post-graduate diploma in financial planning. She has enjoyed working on holistic financial plans for clients in various stages of life, as well as a development economist assessing the socioeconomic impacts of new developments. When she is not working, Mariette enjoys parenting her quirky, delightful toddler girl. Cloth diapering, Eskimo kisses and the importance of reading to your child are all causes close to her heart. Mariette is passionate about financial education and hopes to use the experience she has gained to share knowledge with HomeTimes’ readership. Her goal is to provide information that is implementable by everyone.

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1 COMMENT
  • Raymond 26th May 2018

    Good day

    I was a trustee previously and decided to not be in the new financial year at my complex.
    Yet at the AGM i made myself clear and asked that it be minuted that i as a owner have the right to receive the monthly disbursements of the building as well as attend trustee meetings.
    It was never minuted and my request ignored. No monthly disbursements received and no invite to any meeting.
    I took this up with the agent and the trustees and they blatanty ignore this.
    I believe that if they do this i now have a valid reason to stop paying my levies.
    The agent also dont do payments from the buildings own account. They transfer approx 30k or more a month into their own account and do payment from their.
    The agent has also been keeinp our reserve fund money in their own trust account and no interest has been reflecting.
    Another concern i have is that when a new owner purchase a unit in this sectional title complex. He get charge approx R1500 once off electricity deposit by the agent claiming its a municipal charge? This get refunded later when the owner sell his unit without interest. My concern here is that only the municipality can charge a electricity deposit. And the muncipality only charge a electricity deposit on new accounts!(buying a unit in a existing complex is not a new municipal account as there is a bulk meter for the whole complex.)
    What do i do next. This agent is obvioulsy corrupt. And the trustees as well. And where do i find a good lawyer to help me sort this out?

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