People who live in communally owned property developments, such as sectional title schemes and retirement villages, now have a cheap and efficient way to resolve their complaints about anything from noisy neighbours to trustees who spend money without authorisation. The new Community Schemes Ombud Service is finally open for business, but there is a sting in the tail: community schemes have to pay levies to the ombud service to fund its operations. This Saturday, Personal Finance unpacks the implications of the new service and other changes to sectional title legislation for owners, residents and scheme managers.
Also in this weekend’s edition:- The risks of investing in offshore endowment policies. - Your financial queries answered, courtesy of Old Mutual.