If you own a property in any kind of multi-dwelling facility you are probably paying a levy.Levies usually range from between a few hundred to a few thousand rand per month depending on what the body corporate or similar organisation is obliged to maintain.
When purchasing a property anywhere always check with your agent as to whether or not there are any additional costs involved.If you have budgeted that your bond will cost you R6000.00 per month and then suddenly there is an additional R1000.00 levy you may find yourself in a sticky situation.
Normally a levy covers the repair and maintenance of communal areas and facilities like gardens, lifts, pools, passageways, and staircases.They cover the cost of the staff employed to do the maintenance as well, so if you think you are purchasing a property with alot of added extras on the grounds you will probably end up having a pretty high levy.
Two things specifically will increase your levy quite a bit, namely a pool and a lift.Swimming pools are costly to maintain as they usually need daily attention to keeep them looking presentable and chemical treatment on a regular basis.Lifts on the otherhand need regular inspections and the cost of repairing them is usually quite high.
Both of these facilities need staff to maintain them and extra money spent on them on a regular basis to keep them safe and in working order.Make sure you are aware of exactly what you will be responsible for paying each month before you buy.It will be to your advantage.
