Avoiding Sectional Title Property Issues in South Africa
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- čas přidán 5. 07. 2024
- Avoid Sectional Title Property issues in South Africa
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These are questions you need to ask before investing in a sectional title scheme. Share your insight and opinions in the comments 💪🏻
"What's up Louis it's guys here " brother 😂
🤣🤣🤣💪🏻💪🏻
does he say this on purpose mower days? First time I heard it, thought it was an accident...but now I think it's on purpose.
@@mariaqumayo9442 maybe he's trying to see if we really listening
@violegrace4220 🤔🤔🤣🤣
the first time i thought he missed it in post
This is something I had to learn the hard way. I have a cash deal on my apartment and there is a delay due to the building owing on Municipal rates. Throughout this process I also found that there are units owing levies collectivly in excess of R100k. Long story short: Do your homework before you buy!
Thanks for sharing and adding value to the comments. Also, as long as you can learn going forward, It's not the end of the world. At least the cost will be split between all owners. But at the end of the day, these body corporates are rotten from inside out.its quite sad.
Hi Louis. I used to be a Chairperson in our complex. You hit all the valid points. We hired a reputable property management company to manage our finances and everything is transparent.
Thanks for sharing. Good and honest management is all you need. Share this with friends and family that need to learn this. Thanks for the support.
All the best
I recently sold mine after owning it for 5 years. 2 of the biggest issues were, the developer handed the complex over to the body corporate with a high city of Joburg water bill and people not paying levies.
And then the special levies. I want nothing to do with sectional titles now.
Thanks for sharing. It's sad to see this happen to so many people. Thankd for adding value to the comments and sharing your experience 💪🏻
All this information is helpful. I wish I had seen this page before having my hands burnt. We learn, and we move forward.
Absolutely right attitude to have. There are no failures, only opportunities to learn. Thanks for the support. Share the channel with friends and family that need to learn this. 🙏🏻🙏🏻
I will never touch ST scheme again, we ran into a problem with non paying units not honouring their levies, MA mismanaging funds, levies escalating and no maintenance. Never again, I would rather invest in towship cheap properties.
Where was your property?
Damn this seems to be the problem at so many complexes. Sorry to hear but hopefully you can learn from this video. Share it with yout friends and family that needs to see it too.
This is very interesting to hear because I’m going through the same thing currently. so the complex has been without electricity for a month now because people are not paying their levies and now I’m so lost as to where do we go from here because it doesn’t look like the body corporate is doing anything about it, it’s just quite. I’m interested to hear what you did to get out of the situation because trying to sell doesn’t seem to be an option for now because people will want to see everything working. It has been just 3 months of being a home owner but already I’m thanks 😪
I work at a managing agent for some schemes and i always get queries from owners because they did not do enough homework regard their investments. This is a very good video to guide potential owners 🤝🏾
Thanks so much for sharing. I agree, beginner investors needs to be aware of this. Share it with your friends and family that needs to know this. 💪🏻
Yikes! Im so grateful for this vital information🙏🏾thanks
My pleasure, glad it can help 👏🏻👏🏻
Thank you, so far i do check financial statement & everything that you've mentioned seems to be in order😊
Thats awesome, well done. Share it with people you know needs the info. All the best. 💪🏻
Thank you for this. I had no idea
Insightful, Iam on the market and not certain if I should go for sectional or stand alone. I noticed that there is a lot of sectional for sale with high levies and less stand alone listed for sale😮Thank you so much, food for thoughts.
Pleasure my friend. Check out the rest of my property videos maybe it can help you decide. Or you can always consider my property course as it holds a lot of value and important information. This is the best way to learn all the necessary skills to be a successful investor.There is also a mentoring option available which is the most popular option.
To secure your spot, simply click payhip.com/LouisReynhardt and follow the easy registration process.
I'm in same predicament in my complex with many units defaulting on levies,with some units owing in excess amounts of R80k😢
I'm in the process of selling it now hecause there's no proper management not to mention a proper board of Trustees and we suffer from the all the red flags you mentioned here and I hope I won't encounter any problems with getting rid of it.
Sorry to hear man, unfortunately that seems to be the case in many complexes. But dont give up. Just make sure you have a healthy reserve fund and you should be good. Goodluck 💪🏻💪🏻
Man.. now that the video is out.. I've been doing this wrong.. good thing I haven't invested in such as yet but I was about to.. thing is your the only one that literally shines light on what we getting ourselves into .. I couldn't gotten burnt.. thanks for the video 🙏🙏🙏🙏🙏
What area are you looking to invest?
Thanks my friend. I appreciate the positive feedback. Im glad that my videos can help you in some way. Just keep learning and make sure you do your research. All the best 🏆 👍
I learnt this the hard way 😅
The complex has no proper record keeping
Seems to be the problem at so many complexes. Share this with the people who needs to see it
Thanks for watching 💪🏻
Often a body corp is confused with a homeowners assoc, not the same.
💪🏻💪🏻💪🏻
Thank you
Thanks for watching 🙏🏻🙏🏻
Bought and sold 2 in 10 years. Nightmare. Never again. So many issues. Don't even get me started on estate agents who sell us these properties and conceal information. Crooks!
Thanks for sharing. Agents are basically salespeople, so it's very rare to find a geniune and informed agent.
Spot on!
Thanks my friend 👊🏻
I never knew any of this, wow thanks
Pleasure my friend 🏆
Valuation information, we must do our homework before buying!
Absolutely, Always do your research. Thanks for watching 👊🏻 💪🏻
OMG, my bond for sectional has been approved , OTP signed and I have not checked all of this 😢
Don't stress. We all have to learn. You can still request for those documents, its still worth looking at them. Thanks for sharing.
This comes a little bit late😢for me but i will bounce back im sure of it
It's never too late. As long as you are willing to learn. Share it with friends and family that need to see it. Thanks for watching 👊🏻
Whats up Louis, its guys here lol.. I had to rewind.. You are hillarious..🤣🤣😂😂
Thanks my friend. Glad you enjoy the content 💪🏻💪🏻
Is there interest on the levies if you default on them?
Gteat questions. Yes absolutely, it varies from body corporate, but people not paying should be penalized .
That whats up Louis is guys here lol😅
🤣😅😅
Learned in hard way , 😮
Dont stress as long as you can learn from your mistakes 💪🏻💪🏻
Whats up Louis, its guys here😂
Hi Louis. As always, thanks for sharing your knowledge. Whenever, I look at your vids I need to look twice, just to make sure it's not Dale Steyn sharing info😂.
Don't you want to be my mentor?
Haha thanks for the feedback. I've heard that before 🏏. Glad the content can help. All the best 🏆 👍
Pop me an email for further guidance at louisreynhardt@gmail.com
Would these also apply to new development complexes ?
In some ways, yes, but new developments can't be assessed in the same way due to no track record. But they still have to comply with the same rules. Check my video I made about new developments
czcams.com/video/46j6iqxGthY/video.htmlsi=Q7I5UMUQAndrUdKY
so useful...
Thank you for the feedback 💪🏻
Why did you create this video so late😁, I wouldn't have invested in the current one I am living in... It's a disaster
Sorry my friend. As long as you can learn from it now for your next investment. All the best 🏆 👍
Thus us why i love algorithm sometimes❤ you just het the right people ❤
Welcome to the channel 💪🏻💪🏻🏆🏆
Hie im interested in the one on one consultancy
You can pop me an email at louisreynhardt@gmail.com 👊🏻
Hi Louis it's property here, just wanted to get your insight, is it possible to reduce your home loan term by setting daily up recurring payments, eg: if your monthly payment is 3000, then you pay R100 a day, is there any truth or benefits to this
Will this reduce the interest
Whatsupp my friend. Technically it will make a huge difference. BUT Banks wont allow this unless you setup daily stop orders. Most banks will charge R20 a stop order so just the cost of the banking fee for those stop orders will be R600 a month which defeats the point. Bi weekly payments will be the way to go or just to make additional or lump sum payments. 💪🏻💪🏻
Replied 💪🏻
Ohh I see what you saying, thanks for the knowledge sharing, your videos are super practical, when compared to what's on CZcams... Keep it up Boet..👌💪
There is lot around sectional title...no more
Definitely 😅😅
Inspired.
🙏🏻🙏🏻🙏🏻
What about iGrow is it best?
czcams.com/video/46j6iqxGthY/video.html
Check out this video. It should answer your questions 💪🏻