Despite the residential market improving its risk situation quarter after quarter, the highly constrained broader economy means potential buyers continue to adopt a wait-and-see approach and negatively impact on the current sellers’ market conditions. “The ongoing decline in the household sector debt-to-disposable income ratio, all the
Q Hi, our complex has seven units and our current levy is R1,500 per month. I have calculated that the levy that is due is as follows: R1,500 - R500 = R1,000 R1,000 X 2% = R20 Therefore, the total levy that is due every three months is R140. Is
A perfect storm is brewing for entrepreneurs: A slow economy, negative national average property price inflation, consumers’ high debt-to-disposable-income ratio, banks’ strict mortgage lending criteria and South Africans’ battle to sufficiently save for home loan deposits, as well as homeowners’ reluctance to sell. On the
Q Will I be able to claim for usage of my parking spot by the building manager from the date the property was registered in my name which was the beginning of 2013? - Cynthia A Hi Cynthia, the parking bays in sectional title schemes are rentals. If someone
Q I own and live in a flat in a sectional title development. I bought and renovated it approximately three years ago, and every six months I had water oozing through the tiles in my en-suite bathroom. Thinking it was my fault I have had plumbers
Q Hi there, I’m a trustee and the other trustees in my complex are refusing to register with the Community Schemes Ombud Service (CSOS). What are the fines/consequences of schemes/complexes refusing to register with the CSOS? - David A Hi David, the CSOS Act states the following, which
Q I own a sectional title apartment in Honeydew, Johannesburg, and yesterday got notice of increased sewer recovery charges (from R188 to just over R200). I understand that costs rise but November and December have been backdated so for January I have to pay my usual
Q Hi, I’m in a situation where we pay levies every month in a complex but we are getting no services (excluding buildings’ insurance and a security gate) which we are told is being paid for. And as for other services, they cannot be done due
There is no user manual for all aspects of homeownership, from moving, to taking occupation and to maintaining and understanding common and uncommon defects. Albert van Wyk has more than 38 years’ worth of building experience and has put all he has learned into a
The student accommodation game is similar to retirement in that demand exceeds supply and there will always be a demand for safe, secure and affordable residences. Many investors have jumped on this bandwagon, hoping to cash in on what they see as a proverbial cash cow. There