Just Letting
into the pool once the unit is sold, or whether you
will have an automatic option to rent them. There
is often a shortage of these amenities. A parking
bay or garage will usually go to the next person on
the waiting list, so parking will not be immediately
available to the prospective tenant.
“If there is a garden,
the prospective tenant
must ask if that is an
exclusive use area.”
maintenance or repairs are not being planned for.
Are there any special levies to be raised in the
future?
If there are, check how much will be needed. It will
be hard for a new tenant to be suddenly responsible
for a R50 000 special levy, for which no ordinary
household will have budgeted for.
Sectional title schemes offer very good lifestyles, in
that they are often more secure and offer various
amenities such as gyms and swimming pools. The
only compromise is that tenants live by rules, which
is not a hardship to many. If the scheme is well
managed, values will increase steadily and it will be a
good long term investment.
Are there enough visitors parking bays? What
are the rules with regard to residents parking
in those bays?
Are there open pieces of land around the
complex? Has the developer reserved a right
for a phased extention of the scheme?
It is worthwhile checking what these plans are,
as there have been cases where the developer has
exercised a right to extend.The plan was changed
which had added to the density of the scheme or
altered the overall ‘feel’ of the complex.
Can you have copies of the rules of the complex
and the audited financial statements?
These must be given to the prospective tenant
before any offer to let is signed. These rules may not
suit the lifestyle of the tenant (e.g. no pets).
Viewing financial statements will also show
whether the scheme is financially sound.
What amounts are owed by the body corporate
to the municipality?
These can be large amounts and will indicate
whether there is a problem within the scheme, either
with the collection of the levies or the managemen