Published on: Feb 10, 2011
Q. What should I do before handover?
1. Ask the developer to pay for a deficit list and agree to pay for remedies.
2. Section 7 says that even after vesting common areas, the developer must still complete the development.
Q. The developer won’t let us join the board. What can we do?
1. AGMs must be held annually
2. Golden shares are not allowed in future.
3. Where an owner owns more than one unit, they cannot exercise more than one vote without first getting an order from the circuit court. This can only happen if they convince the Court that there us a good reason.
Q. I’m worried about the fire safety systems in my complex. What rights do I have?
1. Existing developments have added reporting requirements. The directors must report on the installed fire safety system including their maintenance procedures.
2. During transfer of common areas, the fire certificate (which is only based on plans), a list of fire safety equipment and the expected life span of that equipment must be handed over.
3. For new developments, the building must be signed off by a competent qualified fire official.
Q. Do service charges have to be approved by owners?
Yes. The budget must be voted on at an AGM. It can be approved by 60% of the attendees or rejected by 75%.
The reason for this is to give people more ownership and control over the budget and encourage them to pay.
Q. There are joint owners for my apartment. How many votes do we have?
Each unit will have one vote only.