Sectional title living has become a popular choice among buyers today, so much so that annual property inflation for sectional titles outperformed that of freehold properties at the end of 2023, according to Lightstone Property.
As popular as sectional title ownership is, many fail to take the time to understand the role of a trustee and the body corporate, and this can lead to some costly consequences.
To fully understand what the responsibilities of a trustee are, as well as to understand the regulations for this type of property ownership, Goslett recommended that homeowners familiarise themselves with the Sectional Title Schemes Management Act, preferably before they buy into a sectional title scheme.
