She advises potential sectional title owners to check the following five things:
1 Body corporate financial statements:
Ascertain whether the body corporate is solvent, and look for large or unusual expenses that could indicate a problem.
2 Body corporate minutes:
Will tell you whether the body corporate plans to raise a special levy for a major maintenance project or levies in general.
3 Benchmark your monthly levy:
Compare the levies with those of similar complexes. Unusually high levies could have a negative impact when you sell.
4 Understand the difference between ‘common’ and ‘exclusive use’ areas:
Within the body corporate property as a whole, there are areas zoned as common property and exclusive use areas.
5 Become familiar with the house rules:
These will provide an indication about the owners and their values to help you decide whether to live there .