On 7 October 2016, in terms of the gazetted proclamation and the publication of the regulations, the Community Schemes Ombud Service (CSOS) came into operation.
The Community Schemes Ombud Service mandate is to provide a dispute resolution service, to quality insure and regulate all schemes governance documentation and to ensure that there is awareness and education provided to community schemes.
Owners must pay monthly CSOS levies over to the HOA from 1 January 2017.
The HOA must then pay these levies over on a quarterly basis to CSOS. Outstanding levies will bear interest at a rate prescribed by the National Credit Act, 2005 (Act No.
34 of 2005) as amended.
CSOS levy calculation: 2% on the amount, by which the monthly levy charged by the HOA exceeds R500.
|Blue Mountain Village & Gardens||R970-500 =470×2%=R9.40|
|Blue Mountain Gardens Duets||R700-500 =200×2%=R4.00|
|Blue Mountain Carenet Retirement||R1081-500 =581×2%=R11.62|
Please visit the Community Schemes Ombud Service website www.csos.org.za to familiarize yourself with the impending levy addition. Please do not hesitate to contact us should you require additional information.