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What sectional title schemes may do to increase income
By Opinion
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The Covid-19 pandemic has had a negative impact on levy income cash flow in many Sectional Title schemes this year so it is no surprise that trustees are looking for other sources of revenue, including rentals for certain parts of the common property.
“Trustees are often approached to allow the erection of cell phone towers in the grounds of their schemes, or to allow companies to put up advertising signage on the perimeter walls or building roofs – and doing so can prove to be quite a lucrative source of additional income for their schemes,” says Andrew Schaefer, MD of national property management company Trafalgar.