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Q Hi, I refer to the amendment to the Sectional Title Schemes Management Act as follows (as sent to us by our managing agent): “Body corporate is to establish and maintain a separate MINIMUM RESERVE FUND. An amount of 10% of the monthly levy contributions must be allocated

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Q With many schemes being unprepared for the requirements of the STSMA and CSOS regulations, they are scrambling to meet their requirements and as such are following the law to the letter. I received an email notice from my managing agent which said our levy would

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Many sectional title schemes are nearing the end of their financial year (from 1 March to the last day of February) which means budgets need to be analysed very carefully for the year ahead. The increase in levies, over and above the new requirements set out in the

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Q All of our properties have separate entrances, linked only by the shared wall. There is no common property. If we can install individual prepaid meters for our water, is a reserve fund and maintenance fund still required? – Nadine A Dear Nadine, as long as you are

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The sectional title property market is the fastest-growing housing type in the country. Reasons for this include the fact that a higher concentration of homes on a stand reduces pressure on municipal infrastructure and thus costs less to service than traditional suburban homes which each

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Sectional title owners could see their levy costs increase by 15% per year for the next few years. This is due to last week’s gazetted Sectional Titles Schemes Management Act requiring schemes to have a reserve fund equal to at least 25% of the scheme’s

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