Sectional Titles

Paddocks Press – June 07

Paddocks Press is ad hoc free digital newsletter published to educate and update the sectional title community. The current issue (Volume 2, Issue 5) has a number of articles of interest including:

NAMA Consultation Paper on multi-tiered sectional title bodies corporate - The National Association of Managing Agents (NAMA) is inviting comments regarding a proposal to overcome problems being experienced with 'multi-use' or 'mixed schemes'.

Mountain or Hillside Rockfalls- Do insurance Companies cover the risk? Buildings that are developed on land with steep gradients could be exposed to the risk of rock falls, whether it be a multitude of small rocks or large single boulders. Many buildings are situated on the slopes of Signal Hill, Lion's Head, Devil's Peak, Table Mountain chain of the Cape Peninsula.

Addsure approached three insurance companies with whom they place cover for buildings in the sectional title environment and their responses to the query about rock-fall cover make for interesting reading.

Choose a qualified sectional title estate agent - Over 120 estate agents recently obtained the Sectional Title Specialist Realtor course at UCT, making them amply qualified to sell sectional title units.

The Taxman Cometh - Clint Riddin addresses common misconceptions and aspects about tax implications for bodies corporate and home owners' associations.

Q & A with the professor - Graham Paddock answers the following question on management agreements: "A month-to-month agreement for managing buildings is really not working for any of us managing agents. It is virtually impossible to get a resolution passed by the Trustees to sign a contract for a twelve-month period, which seriously affects our nerves and budget. There are so many managing agents nowadays in the field and poaching is very common. We really need some proper protection to secure our business. Please tell me what is going to be done about this?"

Paddocks Press Vol 2, Issue 5

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