Levies in Homeowners’ Associations (HOAs): What You Need to Know
đź’° Levies in Homeowners’ Associations (HOAs): What You Need to Know Levies in an HOA work differently from those in a Sectional Title Scheme. Unlike Bodies Corporate, HOAs are not governed by the Sectional Titles Schemes Management Act (STSMA) – instead, their...
Understanding Annual Financial Statements in Community Schemes
Understanding Annual Financial Statements in Community Schemes Annual Financial Statements (AFS) are more than just numbers, they are the story of your scheme’s financial health. For Scheme Executives, understanding these statements is critical to making informed...
Trustees vs Directors: What’s the Difference?
Trustees vs Directors: What’s the Difference? In community schemes, the decision-makers are called Scheme Executives – but the title changes depending on whether you live in a Sectional Title Scheme or a Homeowners’ Association (HOA). Here’s how they compare:...
Who is the Body Corporate?
Who is the Body Corporate? We often hear owners say: “I want to speak to the Body Corporate.” But here’s the truth: the Body Corporate is not the Trustees or the Managing Agent – it’s all the owners, collectively. When does it come into existence? The moment the...
Financial Planning and Budgeting in Community Schemes
Financial Planning & Budgeting in Community Schemes Financial planning is the foundation of a well-run community scheme. Whether you manage a sectional title complex or a homeowners association (HOA), careful budgeting ensures the scheme can meet its obligations,...
What Do You Own in a Homeowners’ Association (HOA)?
🏡 What Do You Own in a Homeowners’ Association (HOA)? When you buy into a Homeowners’ Association, ownership works very differently from Sectional Title – here’s what you need to know: Erf and Home – You own the full stand (plot of land) and the buildings on it,...
What Do You Own in a Sectional Title Scheme?
What Do You Own in a Sectional Title Scheme? When you buy into a Sectional Title Scheme, your ownership is carefully defined in law – it’s not always as simple as “my unit, my walls.” Here’s how it works: Your Section: – Ownership is defined by the median...
Sectional Title Meetings Explained
Sectional Title Meetings Explained Not all meetings in a sectional title scheme are the same. Here’s what owners and trustees need to know: Annual General Meeting (AGM) Must be held once a year (within 4 months of financial year-end) At the AGM, members (all owners)...