Auto Industry News
Auto Bailout News
Auto Show News
Car Dealers News
| Automotive News
| Submit Press Release
(I-AutoNewsWire.com, July 22, 2015 ) Johannesburg -- The Information Officer of Fitzanne Estates a letting property management company based in Johannesburg and Pretoria recently explained the sectional title scheme. He comments, "Sectional title is the ownership of a specific unit by an individual within a property, however, the common property is shared with other owners."
He continues, "Individuals who want to buy into a sectional title scheme must be aware of the advantages and disadvantages of this scheme before making the final decision. The first advantages of sectional ownership is that it permits socialisation especially for sociable individuals because the way of living is communal and it involves a lot of sharing of some of the facilities that are in the building.
Some residents of these properties usually start residents associations and conduct meetings; this means there are more chances of establishing relations with other individuals. Owning a sectional unit is much cheaper when compared to buying and owning a property alone."
He adds, "Becoming a solo owner of a property means that any additional renovation or maintenance costs will only be paid solely by the owner only. While people who are in a sectional title scheme and use the common property all have to pay a certain amount. It is vital to get the best management of sectional title complexes a property letting management company can offer, so as to make sure that the common property of complexes is well taken care of."
"The common property that is used by everyone who owns a sectional management scheme is usually controlled by the body corporate. Most sectional title schemes have rules that must be followed by everyone.
The body corporate responsibilities include making sure that the common property is its best condition.
Making sure that all the rules are followed by all the owners that pertain to the common property.
Collecting and receiving all levies paid by the owners that aid in payment of wages of cleaners, security officers, electricity and water used in the common property area. The security of sectional title schemes is usually perceived to be stronger and strict in comparison to privately owned property."
The information officer of Fitzanne Estates noted the disadvantages of sectional title scheme. He comments, "Living in a sectional title managed setup is not for the power hungry individuals because there is no full title ownership. It is always important to follow the rules set up by the management, for example, a rule might state no dogs or pets allowed. Failure to keep the rules will often lead to problems with the management and other owners.
The freedom to do as you please is restricted you must always think of the other owners in the building, for instance, you cannot play the volume of your radio high any time of the week. It is also vital to expect any sudden changes that might occur as rules can change at any given time.
Sectional title unit's owners cannot just demolish and renovate their units to expand their property first without getting the approval from the managing body." He mentioned that it was very important for people who want to buy into sectional title ownership to weigh their options carefully first and to deal with the best property agents in Gauteng.
"Before you make your final decisions do your homework first, research and verify. Do not be quick to sign any contract that you do not understand. Consider all the rules and implications. Make use of your lawyer if you feel the need to. Among other sectional title management companies, Fitzanne Estates agents are real property management experts. If you need more insight visit www.fitzanne.co.za."
About Fitzanne Estates:
Fitzanne Estates journey in the property sector began in 1982. Fitzanne property agents are well experienced and experts in property administration, sectional title management and full-time management. Fitzanne Estates is based in Johannesburg and Pretoria in South Africa. Their main purpose is to sufficiently administer property to the benefits of Landlords Body Corporate and Non Profits Company. Fitzanne Estates is a member of NAMA (National Association of Managing Agents), SAPOA (Southern African Property Owners Association) as well as the National Debt Collector's Council. They provide efficient title and full title management reporting, transparency and financial monitoring.
082 570 3858