Stratafin news

Read news, views, and insights on all subjects relating to community housing schemes, bodies corporate, and homeowner associations.
Financial records
Articles

Body Corporate’s duty to keep financial records

The body corporate, through the trustees (or managing agent if one is appointed), have various duties to compile, keep and make financial records available to members of the body corporate. The timely and accurate execution of these responsibilities are fundamental to the sound, transparent and good governance of the scheme.

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Gassed up
Articles

All gassed up! Gas use in Sectional Title Schemes

Recently Tumi, The Narrator, did a very informative (and entertaining) video on the use of gas heaters in sectional title schemes. More and more individuals are making use of gas due to the breaks in our electricity supply during loadshedding. Gas can be used for many purposes in residential homes:
gas geysers, gas heaters, gas braais and gas burners

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Property Developers responsibility
AGM/SGM

The Developer’s responsibility in regard to the first General Meeting

In simple terms the developer owns the land on which the scheme is built. The developer then works with architects, engineers, builders, land surveyors, the local municipality, conveyancers, and the deeds registry to establish the buildings on the land that will make up the scheme. Once the first unit is sold the body corporate is formed.

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Ways in which Common Property can be legally structured
Articles

Ways in which Common Property can be legally structured

The community property element of sectional title schemes comes into play when we refer to common property. The body corporate must maintain the common property (while owners must each maintain their section). There are various ways in which the body corporate can restructure and reallocate common property legally

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