What is Sectional Title?
There is a title deed on a complex. All the units are a section of the total deed which get registered in the buyers’ names.
What does the monthly levy include?
The levy includes the security of the complex, waste management, building insurance premiums, maintenance of common property including mowing of lawns and exterior maintenance of buildings, wages and salaries of gardeners, cleaners and other staff involved in maintaining the common property, as well as any water and electricity required for the common property.
What does the levy exclude?
The levy does not include the rates and taxes, insurance for the contents of their home and for their monthly electricity and water consumption.
What is a Body Corporate?
All the registered owners of the complex are members of the Body Corporate. The members elect trustees. A chairman is selected from the trustees to manage matters on their behalf.