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UCT (Law@Work) Sectional Title Scheme Management workshop

We held the Cape Town workshop last week. Here is a picture of the student group:

STSM CT workshop

The Durban and Johannesburg workshops and exams are being held this week. Good luck to our students!

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June Sectional Title Survival Manual special

Survival manual

During June 2011 only:
The Sectional Title Survival Manual will be sold for only R250 per copy PLUS we will give you a copy of the Deeltitel Oorlewingsgids for free.

The ultimate guide to living in sectional title – order yours online.

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Meet the team

The Paddocks Team

Contact details

Website: www.paddocks.co.za
Email: info@paddocks.co.za
Telephone: 021 447 7565

4th floor Fairland House
c/o Browning and Main Road
Observatory
Cape Town
7925



May 2011 (Volume 6, Issue 5)

Dear Paddocks Press Fan,

Prof. Graham Paddock Winter has well and truly arrived - storms in the Cape, rain in KZN and cold in Gauteng. We are "on tour" at the moment with the 11th presentation of University of Cape Town (Law@Work) Sectional Title Scheme Management course workshops.

In this edition:
1. I give a high-level overview of the recently implemented Companies Act No. 71 of 2008 from an HOA perspective.
2. Anton discusses the liability for costs in regard to exclusive use areas in sectional title schemes.
3. UCT's Pierre Heistein looks at how exchange rates affect the local and foreign property market.
4. I answer a number of questions.
5. We give you details of our upcoming community scheme training courses.

If you find this information useful, please forward it to others who you think might need it.

Kind regards,

Graham


P.S. The August Home Owners' Association Management course will include updates from the new Companies Act.

Companies Act No. 71 of 2008

Graham Paddock

Now in operation

By Graham Paddock

The new Companies Act that came into effect on 1 May 2011 has been described as "a revolution for South African corporation law". The Act is much more accessible than its predecessor, being drafted in plain language and logically structured. Graham's principle interest in the Act is its effect on home owners’ associations that were established as section 21 (now "non-profit") companies.

In this article, Graham will give a very brief overview of this newly implemented legislation. (reading time: ± 2 mins)

Read the full article...


Exclusive use area costs

Anton Kelly

Who pays the costs related to EUAs?

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. In addition to owning their sections, owners may also hold rights of exclusive use over portions of the common property. Exclusive use areas can also be areas or facilities used not just by one owner, but by groups of owners.

In this article, Anton explains how costs related to exclusive use areas should be attributed. (reading time: ± 1 min)

Read the full article...


Exchange rate effect on property

Pierre Heistein

How exchange rates affect the SA 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 and demand. In South Africa, we always state the exchange rate as the price of buying one unit of the foreign currency. When applying the effect of the exchange rate to the property market, we need to separate foreign and local demand. We also need to make a distinction between the short run and the long run.

In this article, Pierre looks at the effect that the exchange rate has on the local and foreign property market in South Africa. (reading time: ± 1 min)

Read full article...


Q&A with the Professor

Graham Paddock

Monthly Q&A

By Prof Graham Paddock

This month, we cover the following topics in our Q&A section:

• Liability for medical expenses arising from injury on common property
• Voting by spouses married in and out of community of property (reading time: ± 2 mins)

Read full article...


Upcoming training

UCT (Law@Work) Sectional Title Scheme Management course
Registrations close: 10 June 2011
Be equipped to manage sectional title schemes according to the legal aspects of scheme management with this benchmark course.
Click here for further details on this course.

Home Owners’ Association Management course
Registrations close: 29 July 2011
Learn all about the legal aspects of home owners’ association (HOA) management.
Click here for further details on this course.