Avoiding Sectional Title Property Issues in South Africa

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  • Опубликовано: 23 июл 2024

Комментарии • 87

  • @louisreynhardt
    @louisreynhardt  3 месяца назад +5

    These are questions you need to ask before investing in a sectional title scheme. Share your insight and opinions in the comments 💪🏻

  • @violegrace4220
    @violegrace4220 3 месяца назад +57

    "What's up Louis it's guys here " brother 😂

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +6

      🤣🤣🤣💪🏻💪🏻

    • @mariaqumayo9442
      @mariaqumayo9442 3 месяца назад +1

      does he say this on purpose mower days? First time I heard it, thought it was an accident...but now I think it's on purpose.

    • @violegrace4220
      @violegrace4220 3 месяца назад +3

      @@mariaqumayo9442 maybe he's trying to see if we really listening

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +1

      @violegrace4220 🤔🤔🤣🤣

    • @kreativekraal
      @kreativekraal 3 месяца назад +2

      the first time i thought he missed it in post

  • @MrEltonArendse
    @MrEltonArendse 3 месяца назад +12

    This is something I had to learn the hard way. I have a cash deal on my apartment and there is a delay due to the building owing on Municipal rates. Throughout this process I also found that there are units owing levies collectivly in excess of R100k. Long story short: Do your homework before you buy!

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Thanks for sharing and adding value to the comments. Also, as long as you can learn going forward, It's not the end of the world. At least the cost will be split between all owners. But at the end of the day, these body corporates are rotten from inside out.its quite sad.

  • @falakhemthethwa3171
    @falakhemthethwa3171 3 месяца назад +3

    Hi Louis. I used to be a Chairperson in our complex. You hit all the valid points. We hired a reputable property management company to manage our finances and everything is transparent.

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Thanks for sharing. Good and honest management is all you need. Share this with friends and family that need to learn this. Thanks for the support.
      All the best

  • @kopanomokoena7539
    @kopanomokoena7539 3 месяца назад +3

    I work at a managing agent for some schemes and i always get queries from owners because they did not do enough homework regard their investments. This is a very good video to guide potential owners 🤝🏾

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Thanks so much for sharing. I agree, beginner investors needs to be aware of this. Share it with your friends and family that needs to know this. 💪🏻

  • @GSmithCT
    @GSmithCT 3 месяца назад +3

    All this information is helpful. I wish I had seen this page before having my hands burnt. We learn, and we move forward.

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Absolutely right attitude to have. There are no failures, only opportunities to learn. Thanks for the support. Share the channel with friends and family that need to learn this. 🙏🏻🙏🏻

  • @kamohelosinqaba
    @kamohelosinqaba 3 месяца назад +5

    I recently sold mine after owning it for 5 years. 2 of the biggest issues were, the developer handed the complex over to the body corporate with a high city of Joburg water bill and people not paying levies.
    And then the special levies. I want nothing to do with sectional titles now.

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +2

      Thanks for sharing. It's sad to see this happen to so many people. Thankd for adding value to the comments and sharing your experience 💪🏻

  • @mzansipunters4295
    @mzansipunters4295 3 месяца назад +8

    I will never touch ST scheme again, we ran into a problem with non paying units not honouring their levies, MA mismanaging funds, levies escalating and no maintenance. Never again, I would rather invest in towship cheap properties.

    • @entertainmentfolloworgomis3169
      @entertainmentfolloworgomis3169 3 месяца назад +1

      Where was your property?

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +2

      Damn this seems to be the problem at so many complexes. Sorry to hear but hopefully you can learn from this video. Share it with yout friends and family that needs to see it too.

    • @belindazulu8219
      @belindazulu8219 2 месяца назад

      This is very interesting to hear because I’m going through the same thing currently. so the complex has been without electricity for a month now because people are not paying their levies and now I’m so lost as to where do we go from here because it doesn’t look like the body corporate is doing anything about it, it’s just quite. I’m interested to hear what you did to get out of the situation because trying to sell doesn’t seem to be an option for now because people will want to see everything working. It has been just 3 months of being a home owner but already I’m thanks 😪

  • @heavenly894
    @heavenly894 3 месяца назад +4

    Yikes! Im so grateful for this vital information🙏🏾thanks

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      My pleasure, glad it can help 👏🏻👏🏻

  • @nompiloangelmakamo5414
    @nompiloangelmakamo5414 3 месяца назад +1

    Thank you, so far i do check financial statement & everything that you've mentioned seems to be in order😊

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Thats awesome, well done. Share it with people you know needs the info. All the best. 💪🏻

  • @merle3858
    @merle3858 День назад +1

    The age of the complex gives an indication if trustees and service providers are operating like mafias. It's sad the same service providers operate in all the huge complexes. They create unecessary plumbing and electrical problems that are rinsing funds necessitating high increases in levies and special levies.
    Because owners do not attend AGM trustees in big complexes with several hundred units work with service providers to line their own pockets. Get involved otherwise buy into small complexes where such mismanagement is easier to identify.

    • @louisreynhardt
      @louisreynhardt  3 часа назад

      Thanks for sharing. This is very true. It's sad to see how complexes are managed all over SA.

  • @FusionThunder
    @FusionThunder 3 месяца назад

    Thank you for this. I had no idea

  • @somethingthoughtful.3243
    @somethingthoughtful.3243 3 месяца назад +2

    Insightful, Iam on the market and not certain if I should go for sectional or stand alone. I noticed that there is a lot of sectional for sale with high levies and less stand alone listed for sale😮Thank you so much, food for thoughts.

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Pleasure my friend. Check out the rest of my property videos maybe it can help you decide. Or you can always consider my property course as it holds a lot of value and important information. This is the best way to learn all the necessary skills to be a successful investor.There is also a mentoring option available which is the most popular option.
      To secure your spot, simply click payhip.com/LouisReynhardt and follow the easy registration process.

  • @TalkSteer
    @TalkSteer 3 месяца назад +3

    Man.. now that the video is out.. I've been doing this wrong.. good thing I haven't invested in such as yet but I was about to.. thing is your the only one that literally shines light on what we getting ourselves into .. I couldn't gotten burnt.. thanks for the video 🙏🙏🙏🙏🙏

    • @entertainmentfolloworgomis3169
      @entertainmentfolloworgomis3169 3 месяца назад

      What area are you looking to invest?

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +1

      Thanks my friend. I appreciate the positive feedback. Im glad that my videos can help you in some way. Just keep learning and make sure you do your research. All the best 🏆 👍

  • @AndileMokhathi
    @AndileMokhathi Месяц назад +1

    Thank you

  • @tshepo7953
    @tshepo7953 3 месяца назад +3

    I'm in same predicament in my complex with many units defaulting on levies,with some units owing in excess amounts of R80k😢
    I'm in the process of selling it now hecause there's no proper management not to mention a proper board of Trustees and we suffer from the all the red flags you mentioned here and I hope I won't encounter any problems with getting rid of it.

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Sorry to hear man, unfortunately that seems to be the case in many complexes. But dont give up. Just make sure you have a healthy reserve fund and you should be good. Goodluck 💪🏻💪🏻

  • @EmD20v
    @EmD20v 3 месяца назад +3

    I never knew any of this, wow thanks

  • @user-jr8bx2is6s
    @user-jr8bx2is6s 3 месяца назад +2

    Often a body corp is confused with a homeowners assoc, not the same.

  • @BrunoSamwa
    @BrunoSamwa 3 месяца назад +1

    Spot on!

  • @fionatini9756
    @fionatini9756 3 месяца назад +1

    Valuation information, we must do our homework before buying!

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Absolutely, Always do your research. Thanks for watching 👊🏻 💪🏻

  • @william_8844
    @william_8844 3 месяца назад +2

    I learnt this the hard way 😅
    The complex has no proper record keeping

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Seems to be the problem at so many complexes. Share this with the people who needs to see it
      Thanks for watching 💪🏻

  • @munhu_wacho
    @munhu_wacho 3 месяца назад +1

    Whats up Louis, its guys here lol.. I had to rewind.. You are hillarious..🤣🤣😂😂

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Thanks my friend. Glad you enjoy the content 💪🏻💪🏻

  • @percynkomo9396
    @percynkomo9396 3 месяца назад +2

    This comes a little bit late😢for me but i will bounce back im sure of it

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      It's never too late. As long as you are willing to learn. Share it with friends and family that need to see it. Thanks for watching 👊🏻

  • @anjoes8428
    @anjoes8428 3 месяца назад +2

    Whats up Louis, its guys here😂
    Hi Louis. As always, thanks for sharing your knowledge. Whenever, I look at your vids I need to look twice, just to make sure it's not Dale Steyn sharing info😂.
    Don't you want to be my mentor?

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Haha thanks for the feedback. I've heard that before 🏏. Glad the content can help. All the best 🏆 👍
      Pop me an email for further guidance at louisreynhardt@gmail.com

  • @percynkomo9396
    @percynkomo9396 3 месяца назад +5

    That whats up Louis is guys here lol😅

  • @rabkmphahlele9690
    @rabkmphahlele9690 3 месяца назад +3

    OMG, my bond for sectional has been approved , OTP signed and I have not checked all of this 😢

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +1

      Don't stress. We all have to learn. You can still request for those documents, its still worth looking at them. Thanks for sharing.

  • @heelayahbahtisrael8438
    @heelayahbahtisrael8438 3 месяца назад +1

    Learned in hard way , 😮

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Dont stress as long as you can learn from your mistakes 💪🏻💪🏻

  • @milindogugu5327
    @milindogugu5327 3 месяца назад +1

    Thus us why i love algorithm sometimes❤ you just het the right people ❤

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Welcome to the channel 💪🏻💪🏻🏆🏆

  • @user-xp7bp7kk2f
    @user-xp7bp7kk2f 3 месяца назад +1

    so useful...

  • @dimakatsomothi1799
    @dimakatsomothi1799 3 месяца назад +1

    Is there interest on the levies if you default on them?

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Gteat questions. Yes absolutely, it varies from body corporate, but people not paying should be penalized .

  • @muzikayisenkosi4983
    @muzikayisenkosi4983 3 месяца назад +1

    Would these also apply to new development complexes ?

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +1

      In some ways, yes, but new developments can't be assessed in the same way due to no track record. But they still have to comply with the same rules. Check my video I made about new developments
      ruclips.net/video/46j6iqxGthY/видео.htmlsi=Q7I5UMUQAndrUdKY

  • @dexterthabo2692
    @dexterthabo2692 3 месяца назад +1

    Hie im interested in the one on one consultancy

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +1

      You can pop me an email at louisreynhardt@gmail.com 👊🏻

  • @Roseofnomansland201
    @Roseofnomansland201 3 месяца назад +4

    Bought and sold 2 in 10 years. Nightmare. Never again. So many issues. Don't even get me started on estate agents who sell us these properties and conceal information. Crooks!

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      Thanks for sharing. Agents are basically salespeople, so it's very rare to find a geniune and informed agent.

  • @stephanskgatle3264
    @stephanskgatle3264 3 месяца назад +3

    Why did you create this video so late😁, I wouldn't have invested in the current one I am living in... It's a disaster

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +1

      Sorry my friend. As long as you can learn from it now for your next investment. All the best 🏆 👍

  • @KutulloMadiope
    @KutulloMadiope 3 месяца назад +3

    Inspired.

  • @cocobutter9242
    @cocobutter9242 3 месяца назад

    There is lot around sectional title...no more

  • @tshimosechaba4493
    @tshimosechaba4493 3 месяца назад +1

    Hi Louis it's property here, just wanted to get your insight, is it possible to reduce your home loan term by setting daily up recurring payments, eg: if your monthly payment is 3000, then you pay R100 a day, is there any truth or benefits to this

    • @tshimosechaba4493
      @tshimosechaba4493 3 месяца назад +1

      Will this reduce the interest

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +2

      Whatsupp my friend. Technically it will make a huge difference. BUT Banks wont allow this unless you setup daily stop orders. Most banks will charge R20 a stop order so just the cost of the banking fee for those stop orders will be R600 a month which defeats the point. Bi weekly payments will be the way to go or just to make additional or lump sum payments. 💪🏻💪🏻

    • @louisreynhardt
      @louisreynhardt  3 месяца назад +1

      Replied 💪🏻

    • @tshimosechaba4493
      @tshimosechaba4493 3 месяца назад +1

      Ohh I see what you saying, thanks for the knowledge sharing, your videos are super practical, when compared to what's on RUclips... Keep it up Boet..👌💪

  • @innocentmaleswena1917
    @innocentmaleswena1917 3 месяца назад +2

    What about iGrow is it best?

    • @louisreynhardt
      @louisreynhardt  3 месяца назад

      ruclips.net/video/46j6iqxGthY/видео.html
      Check out this video. It should answer your questions 💪🏻