Yes. Firstly shareholders meet a month prior to the completion of the unit at the first Shareholders’ Meeting. This is the most important meeting, which all shareholders are urged to attend. Rules and Regulations and the Shareholders’ Agreement are the main priorities for discussion. Other matters include add-on’s to the unit, the appointment of a new Director, domestic services, and actual vs. budget project costs. Shareholders will also meet the DJ Syndico team. Thereafter an AGM will be held once a year when the Company Financial are available, normally round about May.

DJ Syndico will manage the property on behalf of all shareholders. Management services include inspection of the inventory list after each and every shareholder’s visit, domestic service, maintenance, pool, jacuzzi and garden services, monthly bill payments, attendance of the Estate AGM on behalf of the shareholders, and updating shareholders on general aspects of the property.

You may at any time sell your share in the open market after first offering your share to the existing shareholders. Existing shareholders have 30 days to respond to the offer. DJ Syndico also offers a “once a year option to sell” service to shareholders. How this works: DJ Syndico will announce that they will actively market the shares of shareholders who wish to sell. We will take it upon ourselves to pay for marketing material to get these shares sold. We also hold an extensive database of interested parties nationally and abroad.

Yes. You may rent out your time slots to external parties with the consent DJ Syndico. A deposit, which varies per Estate, is required before any rental occurs. Shareholders do need to take full responsibility on behalf of tenants. DJ Syndico also offers a rental service to shareholders, in which we advertise the whole year, and not specific weeks, to interested parties nationally and abroad. When we find a potential tenant, we ask him which time frame he prefers – and if it falls within your timeslot, we will give you a call and ask if you are interested? The proceeds will go to you.

Yes. Our website has a member’s area where you can access your portfolio of weeks in our Exchange and Rental Programme (ERP). You can add some of your weeks to the swap pool, where after you can choose any of the available weeks in the swap pool in any of our 9 holiday destinations. We have a “week for a week” swap policy and do not believe in a points system as many time-share products have. We know that all our properties on the 9 different Estates are on the same high quality. The main aim with our exchange programme is to have a more diverse product.

A whole breakdown is available per Estate. It normally includes estate levy, water & lights, rates and taxes, domestic service, structural and household insurance, cleaning material, DSTV, pool, jacuzzi and garden services, provision for wear and tear and maintenance, auditors and management fees. The monthly levy will be revised every year at the AGM .

DJ Syndico caters for the upper end of the market and furniture varies from R450 000 to R600 000

Furniture is replaced more or less every seven years and linen once every 2 years. We provide for the cost of replacements in our monthly levy.

DJ Syndico Property Management will manage the maintenance process on behalf of the shareholders. Normally it is actioned in a time slot when a shareholder is not able to utilise his timeframe. We provide for the cost of maintenance in the monthly levy.

One of the Directors of DJ Syndico will carry the responsibilities as Director of the FO Company up to the time when the unit has been fully completed. One month prior to the completion of the unit, a shareholders meeting will be held at the offices of DJ Syndico where the original Director will resign and a new Director will be appointed. The new Director will be one of the shareholders and will carry the responsibility as the representative of all the shareholders.

Normally it is one vote per individual, no matter what his shareholding is. Shareholders can decide otherwise at the AGM if they wish the voting rights to be in relation to shareholdings.

Yes. Each and every Leisure Property forms its own Private Company. Thus, one FO Company cannot not have any influence on another.

When a project exceeds budget, all shareholders are requested to pay their pro rata portion in relation to their shareholdings for costs not budgeted for. Conversely, when costs are below budget, the surplus will be refunded to shareholders according with their shareholdings.

All deposits will be paid into the Auditors’ trust account, better known as a Third Party Administrator’s Account (TPA). The Auditors will open a TPA account for each and every FO Company. This means that the Auditors will be the third party between shareholders and DJ Syndico, and will handle all relevant payment authorizations on behalf of all parties involved. Before a specific project is advertised, the Auditors will receive a detailed breakdown of all project costs involved from DJ Syndico. The Auditors will control the actual vs. budget aspect and will not allow any unauthorised payments. This creates a safe and controlled environment for investors.

Like any asset, the share will go into your deceased estate, with transfer into the name of the stated beneficiary. If you have not specified a beneficiary, the executor has the option to sell to the share and split the proceeds between all of the beneficiaries. In this instance, the executor must first offer the share to existing shareholders for 30 days.

The calculation of transfer duty is dependable on which stage of the building project you buy in. If you buy off plan, the norm is to calculate transfer duty on the pro-rata percentage shareholding of the stand, as no building works have been done on the stand. If you buy in at the end of the project or near completion, transfer duty must include the value of the building works completed at that stage. Items like furniture, golf cart or game drive vehicles do not form part of transfer duty and is not part of the calculation.

Like any property transfer done by a Conveyancing Attorney, transfer costs will be applicable. The favourable rate that DJ Syndico shareholders pay is currently R2 900 per share transfer. This share transfer costs must be paid to the Auditors directly, as they handle this on your behalf. Certain Estates have additional charges during occupation and is not included in the normal levy. For instance, because Black Rhino Reserve is situated in a National Park, the normal park fees of R45 per adult per day and R25 per child/pensioner per day is applicable.

Once the contract has been signed, the CM 42 has been signed, the purchase price has been paid in full and the transfer costs have been paid, the Auditors will issue the share certificates.

Yes. The standard rates of CGT are applicable.