Property Update

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The information officer of Fitzanne Estates recently shared the latest developments in the new legislation sectional title.

She comments, “We were privileged to have been invited to attend the Public Participation Session initiated by the Department of Human Settlements and CSOS (Community Schemes Ombud Services) – Monday, 26 October 2015 Gauteng Region.
The main purpose was to allow discussion on the new legislation pertaining to Sectional Title Scheme Management:

• Regulations on Community Schemes Ombud Services.

• Regulations for Fees and Levies on Community Schemes Ombud Scheme.

• Sectional Title Schemes Management regulations.
Published Government Gazette No. 10505, 2 October 2015

Many concerns were raised and we hereby focus on just a few:

• Body Corporate to have a reserve fund of at least 25% of their annual budget. We recommend that all Sectional Title Schemes commence working towards this aim, although these regulations not proclaimed yet, it could come into effect within the next 6 to 12 months.

• Proxies to attend Owners Meetings limited to 2 (two) per attendee.

• Annual General Meeting is to be held within 2 (two) months after financial year end. CSOS agreed that this could be impractical and must be revised.

• Individual members will be obliged to contribute a monthly levy (payable annually) to CSOS:

She also explained that Knowledge sharing is very important. “Knowledge sharing is very essential and when one shares information it empowers others. Sharing information is a great way of gaining trust within a community.

The best way to learn sometimes is through sharing and teaching others. Sharing information through social networks is great for building trust and credibility. It is no secret that sharing is vital in today’s world.

Many organisations now use online blogging platforms to share information about their products and how to use them, company goals and latest industry relevant news. In today’s economy information distributing is very important in order to survive. If you want your business to succeed you must make sure that your organisation supports and has the sharing culture.”

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Fitzanne Estates is a property management that provides property management, trustee training and Property trends are the name of the game. Fitzanne Estates are the best players of the game, with a management portfolio containing more than 6 000 units.
Their expertise in Sectional Title Training the latest property news as well as property sales is clearly evident. Since 1982, their knowledge and skills have been continually refined. Not only do we keep you informed on the very latest in property industry, sales, and section 21 companies and more, we also empower by expanding your knowledge base.

As the property industry evolves (and it does so often), you can rely on us to keep you informed in every aspect. Their service offerings include giving access to the very best service providers. From Plumbers to Electricians from Auditors to Handy men, our preferred service providers will add immense value and comes highly recommended.
We proudly and strictly comply with all the necessary legal requirements concerning property law and we will ensure that you do too. It’s true; our best is the least we can do!

Author: Leslie Mitchell