In our new series of newsletters – Advice from the Experts -we will be sharing valuable information relating to the Sectional Title Schemes and the legislation they must adhere to.
In Part 1 of this series we are going to look at the compulsory legislated requirement for Sectional Title Schemes to have a 10 year maintenance, repair and replacement plan.
Along with buying a property comes the responsibility of maintaining the property. This is especially true in sectional title developments where many owners can be affected by a single maintenance deficiency.
Historically, before the current legislation was enacted, maintenance was one of the easiest items to trim on the budget – with only a simple majority needed at an AGM to veto any proposed increase in levies, regardless of how necessary.
Over the years we’ve observed many schemes fall into a state of disrepair because unit owners had not adequately provided for the ongoing maintenance of the buildings.
With the introduction of Prescribed Management Rule (PMR) 22 this has now thankfully been changed.
Rule 22 specifically ‘requires’ that schemes MUST prepare or have prepared a written maintenance, repair and replacement plan for the common property.
In Part 2 of this newsletter we will look at what items must be included in the maintenance plan.
Article courtesy of Marina Constas and Karen Bleijs Demystifying Sectional Title