President signs Scheme Management and Ombud Acts
By Prof Graham Paddock I have some exciting news to share with you! On 11 June, President Jacob Zuma signed the Sectional Titles Schemes Management Act and the Community Schemes…
Articles
The effect of exchange rates on the property market
By Pierre Heistein Exchange rates are the price of one currency in terms of another. Therefore, just like with the price of any other good, it will fluctuate with supply…
Companies Act No. 71 of 2008 is in operation
By Prof Graham PaddockThe new Companies Act that came into effect on 1 May 2011 has been described as “a revolution for South African corporation law”. While this replacement legislation…
Who pays the costs related to exclusive use areas?
By Anton Kelly Owners of units in sectional titles schemes are responsible for the repair and maintenance of their sections but share the general costs of running the scheme.…
Q&A with the Prof – 2011 05
By Prof Graham Paddock Below is an example of two of the questions on the discussion forum on Paddocks Club. We want to show what is available to our Community…
How green are you?
Win 6 bottles of sparkling wine by showing us how green you are. Upload a picture of yourself on the Paddocks Facebook page, wearing as much green as possible, with…
Flat improvements on a budget
By Karlo Hendriks How can I make my flat look prettier on a budget? This is a common question among flat owners. Whether you own your own flat or you…
Q&A with the Prof – 2011 04
By Prof Graham Paddock Below is an example of two of the questions on the discussion forum on Paddocks Club. We want to show what is available to our Community…
Maintenance in sectional title schemes
By Anton Kelly The maintenance of sectional property is not always straightforward because the responsibility, both operational and financial, rests on different people or entities depending on the exact…
Overview of the Community Scheme Ombud Service Bill, 2010
By Prof Graham Paddock The Community Scheme Ombud Service Bill (the “Bill”) was recently approved by the Portfolio Committee on Human Settlements. In terms of the Bill, “community schemes” include:…
A fair share of the levy
By Anton Kelly A rather large home owners’ association (HOA) has another HOA as a subsidiary, which in turn has a sectional title scheme as one of its subsidiaries. This…
Threat to the financial stability of home owners’ associations averted!
By Prof Graham Paddock I am sure that all Paddocks Press readers know that an owner cannot transfer a unit in a sectional title scheme without first getting a clearance…
The trustees’ responsibilities relative to the audited financial statements
By Clint Riddin It is that time of year again, when many audit practices start auditing clients whose year-end is February. As the prescribed management rule in sectional title defaults…
Q&A with the Prof – 2011 03
By Prof Graham Paddock Below is an example of two of the questions on the discussion forum on Paddocks Club. We want to show what is available to our Community…
Meet Gerrie Scheepers
By the Newsletter Team Gerrie Scheepers is the CEO and executive director of Vision Properties, a property management, letting and sales company. Gerrie started working in the property industry in…
Extensions – Make it legal!
By Anton Kelly The Sectional Titles Act and the prescribed rules provide relatively complicated processes for certain operations. Getting everything right depends on a fairly comprehensive knowledge of the Act…
Paddocks Club
By the newsletter team Sectional title scheme executives often need support in carrying out their day-to-day scheme management duties. Members of community schemes regularly need assistance in establishing and enforcing…
The anatomy of a property bubble
By Pierre Heistein Property bubbles seem like strange things: if everyone wants to buy and build better property, why should this cause the prices and investments to crash? Using a…
Q&A with the Prof – 2011 02
By Prof Graham Paddock Petitions and controlling the managing agent Q1. We have received two weeks’ notice of our AGM and I would like to submit a petition signed by…
Stilus’ Santam Insurance
By Prof Graham Paddock Cash-flow Assurance as opposed to Levy Finance The type of insurance referred to in the Sectional Titles Act and the prescribed management rules is “indemnity insurance”.…
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