It is in owners’ best interests to ensure that their schemes are well managed to maintain and improve the value of their properties, in order to be attractive to future prospective purchasers.
Owners need to ensure that Trustees are elected who will properly manage their scheme, ensure compliance, & ensure that their properties are properly & efficiently managed & maintained to improve the value of the properties in the scheme.
Where Trustees employ Managing Agents, Trustees must ensure that Managing Agents are suitably qualified, experienced, & competent to support the Trustees in their roles & responsibilities.
A well-managed scheme run in line with Sectional Title Schemes Management Act & other applicable statutory requirements by Trustees and Managing Agents who fulfill their fiduciary duties, roles & responsibilities, acting in the best interests of Bodies Corporates, should result in little reason to have disputes lodged by disgruntled owners & residents.
Informed, savvy property purchasers will want to know that a scheme is well managed in order to be considered as an investment or their future home.
In a mismanaged scheme with a history of disputes lodged for issues relating to non-compliance & mismanagement, property owners who wish to sell may be compelled to settle for lower purchase prices. CSOS orders which point to poorly-managed schemes indicate risk which prospective property purchasers will avoid.
In terms of the Community Schemes Ombud Service Act 9 of 2011 under ‘Chapter 6’ regarding ‘Public access to information in regard to orders’: 58 (1) On receiving an application accompanied by the prescribed fee, the ombud must make available to the applicant—
(a) a statement indicating whether an order has been made within the previous six years in terms of this Act with regard to a community scheme identified in the application and, if so, a copy of the order; and
(b) a copy of every order made in respect of the community schemes specified in the application.
(2) The Service must publish and make available for inspection by the public—
(a) a copy of an order made at any time in terms of this Act; and
(b) the reasons for such order’.
© The Sectional Title Guru
