Scheme-specific reminder
Community-scheme rules can differ. Always check the current rules, approvals and documents for the specific complex or scheme.
What to know
- Ask for the trustee or body-corporate resolution authorising the contribution.
- Understand what work or expense the money will fund and the payment timetable.
- Check whether the expenditure is urgent, insured, part of the maintenance plan or the result of earlier underfunding.
- Sellers and buyers should clarify in the sale agreement who will carry which special levies where timing creates uncertainty.
Important Information
The information in Fabulous Homes Insights is provided for general property education and information. Property, tax, finance, sectional-title, rental, municipal and compliance matters can differ according to individual circumstances, contractual terms, scheme rules, municipal requirements and changes in law. Where necessary, readers should obtain advice from an appropriate attorney, conveyancer, tax practitioner, financial professional, property practitioner, engineer, inspector or other suitably qualified professional.
