STO Forums

I would like to know what the ST Act says when owners reject an increase in levies.
At the recent AGM owners rejected the increase in levy as they said we have enough in our bank account (R100 000) to cover expenses.

Our complex (17 units) is very basic, just the houses. The complex is face brick, and we only paint gutters, downpipes & seal roof ridges which have just been done.
We have our own water meters, and pay our own electricity.

But there are the general expenses that need to be paid, municipal refuse, insurance, MA, garden service, and general maintenance.

Our MA accepted their decision.

The levies cover these expenses but the problem is the owners don’t want us to have a huge amount in our bank account as they say they cannot have their portion refunded when they move out. We do have 3 months levies saved.

My point is what happens if we have an emergency and need money for something? Our only option would then be to raise a special levy but then we would not have the money immediately.

They don’t believe in saving for a rainy day, just so long as our expenses are paid they say it is okay.

Is there anything the trustees can do about this legal wise?