News & Events

Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.

Chris Renelce, MD of Renprop, explains that this is because the financial management of a complex will have significant impact on the property’s appreciation potential as well as levy amounts payable, future increases and the potential of special levies being implemented.

Before buying into a sectional title complex or apartment block, buyers should request a copy of the latest audited financials.

“These financials will give you a gauge as to how well the body corporate is doing its job, whether or not the common property will be well looked after and maintained, and will be indicative of how likely the implementation of a special levy will be in the future,” says Renecle.

He explains that the levies paid each month by homeowners in a sectional title complex are used for the maintenance and general upkeep of the property, as well as services such as security and gardening.

“Therefore it is essential to establish in the financial documents that the levies collected each month actually cover the costs of this upkeep and security. Properties situated within a well-maintained, secure complex or apartment block will naturally have a much better appreciation potential, and will therefore be a good investment option for buyers,” Renecle says.

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State of Disaster – Lockdown 27 March–16 April 2020

State of Disaster – Lockdown 27 March–16 April 2020

Following the announcement by the President on 23rd March, we have considered our operational arrangements in compliance with the order to close all businesses for 3 weeks. In anticipation of this possibility, Pro admin has considered contingency measures to enable us to continue with our normal operations as far as possible. Pro admin’s operational arrangements from Friday, 27th March 2020 will be as follows…

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