This week the panel considers the tax and other financial implications of selling a property that is not your primary residence. The question comes from a reader who has been renting out such a property for a decade and now wishes to sell it. He has obtained a valuation but is uncertain as to what the costs will be on his side. The reader asks firstly about the tax situation and secondly about the recommended commission payable to an estate agent with a sole mandate to sell the … [Read more...] about Capital gains taxing on seller
charlotte vermaak
Fixing a Shaky Chair
What role the chairperson of a body corporate plays and the nature of his or her responsibilities are the subject of this week's column. Our experts have been approached by a reader who recently purchased a sectional title unit and was subsequently elected as trustee at the annual general meeting. The group of trustees is quite small, numbering just four members including the chairperson. The reader is, unfortunately, concerned about some of the chairperson's actions and decisions. He … [Read more...] about Fixing a Shaky Chair
Agent lets owner down
One of our readers is unhappy with both a recent tenant of her property and the letting agent who initially secured and handled the tenant. It appears that the agent introduced the candidate and assured the reader that she was suitable and that all credit checks had been properly performed. The reader was satisfied with this and signed the lease agreement. At first everything went smoothly. The rental was paid on time and the reader had no other issues with the tenant. However, from the … [Read more...] about Agent lets owner down
Common ground for special levies
This week the panel tackles a reader's question about the calculation of levies and explains how special levies are divided between owners in a sectional title complex. The reader describes her complex as consisting of nine units, all of which are roughly the same size, give or take a few square metres. She would like to know whether this means that all owners should pay approximately the same amount with regard to levies. Extensive renovations are being done to the complex and, as a … [Read more...] about Common ground for special levies
Dead end in Estate Transfer
Purchasing a property from a deceased estate is often fraught with problems. The question before the panel this week relates to a transfer that appears to have hit a dead end. Some time ago, a reader signed an offer to purchase on a property that formed part of a deceased estate. The previous owner had passed away two years before and the deceased's sister appeared to be dealing with the property. The reader explains that the sister was in fact the beneficiary of the property, but decided … [Read more...] about Dead end in Estate Transfer
Paving the way for common problems
Our panel is often asked to deal with a variety of issues relating to sectional title complexes, from problems between neighbours to maintenance of the common property. This week's reader question is a classic example of the latter. The reader explains that he has owned and lived in his unit for some time. Approximately two years ago, he approached the trustees of the complex about paving a dusty and unusable area adjacent to his unit. He was well aware that the area formed part of the … [Read more...] about Paving the way for common problems
Rights and Responsibilities – Landlords, Leases and Liabilities
This week our panel once again sheds light on the rights and responsibilities in the landlord-tenant relationship. A reader explains that she moved into a flat and was required to pay a deposit of R2 000 into the landlord's account. Some time later, she gave notice and subsequently vacated the flat. Upon leaving, the reader was advised by the landlord that her satellite dish was not to be removed. He also informed her that he would use R500 of her deposit for repairs and painting. The … [Read more...] about Rights and Responsibilities – Landlords, Leases and Liabilities
Of Moral, Latent and Patent Defects
This week, our panel deals with a question from a reader grappling with the issue of moral defects versus latent and patent ones. The reader is currently renting a property, which is on the market and has been viewed by several potential buyers. When questioned by the viewers about possible issues or faults relating to the property, he has responded truthfully. Unfortunately, it appears that there are structural defects, which have caused the walls and tiles to crack. The reader’s … [Read more...] about Of Moral, Latent and Patent Defects
Unseating a complex chair
After experiencing ongoing problems with the chairperson of her homeowners' association (HOA), a reader asks our panel what the correct procedure is for unseating such a person. The reader says that, despite the HOA members having voted unanimously for her removal, she is continuing in the role. The chairperson contends her dismissal is merely temporary until a current dispute with her neighbour is settled. In such instances - where an HOA is formed as a non-profit company - the Companies … [Read more...] about Unseating a complex chair
