A detailed explanation of how service charges work in sectional title developments.
Service charges are monthly or annual fees paid by unit owners to cover the costs of maintaining and managing common property. These charges are essential for the proper functioning of the development.
Common expenses covered include security services, cleaning, gardening, utilities for common areas, repairs and maintenance, insurance, and management fees. The amount is typically calculated based on the participation quota assigned to each unit.
Understanding your obligations regarding service charges is crucial to avoid disputes and ensure the development remains well-maintained.