If you’re thinking about purchasing a property, it’s crucial to know the property rates and taxes specific to that property. Municipal rates and taxes play a significant role in the overall cost of property ownership and can vary significantly depending on various factors such as the municipality, the value of the property, and the specific area where the property is located.
The purpose of the 10-year maintenance plan is to help stabilise the body corporate’s financial situation through preventative maintenance. This is achieved in combination with a cash flow forecast. Excel can be a powerful tool for creating intricate worksheets and financial forecasts…for expert-level users! But it does have some limitations when using it for the 10-year maintenance plan.
In the previous post, we addressed the most frequently asked questions regarding sectional title levies (read it here). In this post, we’ll explain how bodies corporate calculate these levies. Setting levies without bias When calculating sectional title levies, it is crucial to make impartial decisions. The process of determining body corporate levies should be transparent […]
What are body corporate levies and why are they important? In sectional title ownership, a body corporate is responsible for the management and maintenance of the common areas and facilities within a development or complex. Alongside the body corporate’s obligation to establish a thorough 10-year maintenance plan, each individual owner of a sectional title unit […]
Our website provides comprehensive information that addresses common queries about the reserve fund. In this article, we will provide a guide on how to calculate your body corporate’s reserve fund. Discover the Mirfin Dashboard, our online platform that automates the updating of your levies when modifications are made to your reserve fund. Creating a reserve […]