What area are you looking at? On Tue, Nov 12, 2013 at 4:05 PM, euraima tobias <euraima@xxxxxxxxx> wrote: > Ok Thanks guys I requested them today. Hopefully I can look at it > tomorrow. > On 12 Nov 2013 15:46, "Ilitirit Sama" <ilitirit@xxxxxxxxx> wrote: > >> What Stu said. You just have to be reasonably sure that you're aren't >> going to get screwed. When it comes to financials many places will be >> reluctant to give you detailed info because it can expose various owners' >> financial situation. After our AGM we get a statement containing a full >> breakdown of where the money comes from and where it goes to, and what debt >> (if any) exists. Maybe they'll give you that info, but they won't give >> more than they need to. But when with a full breakdown, there are some >> things you just won't know unless you study it thoroughly and ask the right >> questions. >> >> For example, I was under the impression the gym at my apartment was owned >> by the body corporate and use thereof was covered by the levy. Turns out >> the space is actually owned by one of the apartment owners, and he lets >> people use it as long as the BC maintains it. Now, he's thinking it's >> unfair that he's being asked to pay levies without receiving rental money >> from the BC. So now, our monthly levy goes up to cover the rental of the >> gym (voted on during AGM). >> >> Stuff like that is virtually unavoidable so I wouldn't really worry about >> it. As I said, just be reasonably sure you aren't going to get screwed. >> Only time you really need to go through financials etc with a fine tooth >> comb is if you're a big buyer. Retailers in Sea Point are having big >> problems at the moment because they conflated the meanings/roles of the >> owners, BC and tenants. Noob error. >> >> >> >> On Tue, Nov 12, 2013 at 3:19 PM, euraima tobias <euraima@xxxxxxxxx>wrote: >> >>> Can someone maybe advise me? How does the financial state of the body >>> corporate of a complex affect you as a owner of one its units? Ie. Its >>> solvency, its insurance etc. What happens to your sectional title in a case >>> where they are declared insolvent? >>> >> >>