The moment you become an owner in a sectional title scheme, you will realise that you need to attend a Sectional Title seminar. Why? When becoming a sectional title scheme owner you enter into a series of interlocking relationships – largely with people you don’t even know – that will affect what you can do with your property, how you can use and enjoy your home, and the demands that can be made on your finances.
Buying into a complex usually involves a trade-off between the type of home we wish we could have and what we can afford, and where we want to live and what’s available on the market. Similarly, in an ideal world, we would buy only in a scheme that was well run, financially sound, and had no major structural defects or maintenance problems. And we would buy only once we had full knowledge of what we were letting ourselves in for.
The Sectional Titles Act (STA) of 1986 defines the rights and obligations of the various stakeholders who bring a sectional title scheme into being, and who manage and live in it. These rights and obligations are also set out in the Prescribed Management Rules (PMRs) and the Prescribed Conduct Rules, which were issued under the Act. Many people do not realise the extent to which what can and cannot be done in a sectional title scheme, how it should be done and by whom it should be done, has been carefully defined.
When you take transfer of a sectional title unit, you automatically become a member of the body corporate, which consists of all the owners (whether natural or artificial persons) of units in the scheme. The body corporate is required to meet at least once a year, when it must transact certain mandatory business, including adopting a budget and electing trustees. In addition to the annual general meeting (AGM), the body corporate may, if necessary, meet at other times during the year, in what are called special general meetings.
Some body corporate decisions require only a simple majority vote, but many require a much higher level of consensus.
COMSAC | Our objective is to not only to inform but to provide a forum for the exchange of information and other matters affecting property as well as owners and landlords in general. We furthermore actively encourage membership and maintain a record of relevant information. Seminars are held three times annually and this number is to be increased to four times annually from 2017. Subjects covered are varied to encompass inter alia the ever changing rules and regulations of the residential property industry. These seminars have, in the past, been well attended and this reflects both the desire of members to increase their knowledge of legislation which impacts on daily lives of communal living.
Source – https://www.iol.co.za/personal-finance/sectional-title-all-the-ins-and-outs-1858044