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
- The administrative fund covers day-to-day operating expenses such as management, insurance and common-property costs.
- A reserve fund is maintained for future maintenance, repair and replacement of common property.
- Owners may also pay additional amounts linked to exclusive-use areas or utilities, depending on the scheme and rules.
- Compare the approved budget with the levy schedule instead of judging a levy as high or low in isolation.
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.
