CSOS Act: Paragraph 15.
(1) Subject to sub-rule(7), at least 14 days written notice of a general meeting specifying the place, date, and hour of the meeting must be given to-
(a) all members;
(b) all registered bondholders;
(c) all holders of future development rights; and
(d) the management.
(2) A person who has a right to be notified under this rule may waive that right by notice in writing delivered to the body corporate and may, at any time and in the same way, revoke that waiver; provided that if the two or more persons are jointly entitled to exercise a vote, all of them must waive the right to notice and any of them may revoke that waiver.
(3) The notice of a general meeting must be accompanied by at least-
(a) an agenda, as required in terms of these rules
(b) a copy or a comprehensive summary of any document that is to be considered or
approved by members at the meeting; and
(c) a proxy appointment form in the prescribed format.
(4) A general meeting must be held in the local municipality area where the scheme is situated unless the members have by special resolution decided otherwise.
(5) Registered bondholders, holders of future development rights and the managing agent may attend general meetings and may speak on any matter on the agenda, but they are not, in those capacities, entitled to propose any motion or to vote; provided that such persons are not entitled to attend any part of a general meeting if the members resolve that their presence would unreasonably interfere with the interests of the body corporate or any person’s privacy.
(6) Notice of a general meeting must be delivered to-
(a) members at their service addresses in terms of rule 4(5), and
(b) other persons at the most recent physical, postal fax, or email address of which they have notified the body corporate in writing.
(7) A general meeting may be called-
(a) on 7 day’s notice if the trustees have resolved that short notice is necessary due to the urgency of the matter and set out their reasons for this resolution; provided that the trustees must not take such a resolution in regard to a meeting referred to in rule 29(2) or (4)
(b) on less than 14 days notice, if this is agreed to in writing by all persons entitled to attend.
(8) Failure to give proper notice of a general meeting to a person entitled to receive notice does not invalidate a vote taken at the meeting, as long as the body corporate made a reasonable attempt to give the notice.
(9) Voting at a general meeting may proceed despite the lack of notice as required by this rule if all persons entitled to receive notice in writing waive their right to notice.
It gives protection against inflation. The fundamental component of property is that people will always need somewhere to stay and in Grahamstown/Makhanda there are always people looking for accommodation. If you have the right property in the right location, you will do well. Ideally, you want both your capital and rental values to increase over the years (and not become flat or decrease). The longer you keep your investment the better the capital appreciation is likely to be because over time your property will ride through cyclical highs and lows, but will appreciate in the long run. In most cases, properties held for a long time have capital appreciation that exceeds the rate of inflation for the same period.
A huddle of properties. Property is an asset that you can use to grow your investment portfolio. Because you are locked into the bond for the first few years (when cancellation penalties may apply)and the investment, your commitment is necessarily long term. As you acquire more investment properties, your level of debt increases along with the value of your portfolio. You must develop a track record and expertise and this requires that you know and understand what the different suburbs in Grahamstown/Makhanda offer tenants and buy according to the needs of your target market.
Fortune favours the bold. Investing in Grahamstown/Makhanda is an opportunity to build wealth for the future. It is too easy to forget the benefits of time and compound interest so the younger you start thinking about investing, the better the returns tomorrow. It is still a buyers’ market so there are bargains to be had if your agent negotiates well for you, and you can negotiate low interest rates on your bond if you use a canny mortgage originator. The environment is, therefore, conducive to property investments right now.
