LEGACY EXCELLENCE - A OGATSHENI INITIATIVE - OGatsheni Architectural ...
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LEGACY EXCELLENCE – A OGATSHENI INITIATIVE
Property Lifestyle Stokvel, is an association- stokvel, where individuals with a common course, mindset and purpose come
together, in empowering one another through property development and investment. It is also commonly known as a Property
Investment Club or Crowd- Funding Property Club. Property Lifestyle Stokvel (also referred to as PLS), is mandated to assist
members in purchasing, acquiring land and making investments in property(ies). The Stokvel Initiative is founded by oGatsheni
Architectural Engineering (PTY) LTD, also referred to, as oGatsheni. The PLS is an autonomous body/structure of oGatsheni,
which boast of exquisite, modern and sophisticated designs and buildings and with it long term of providing built environment
services to its client
The Stokvel Association, shall be administrated by oGatsheni. The Administrator- President shall form, an interim structure
leadership compromising of registered members of the Stokvel-Association, who shall serve for a period of 1 year until a new
leadership structure is elected by registered members, guided by the founding constitution.
The Leadership/NPCW shall assist in the daily decision making and operation of the Association-STOKVEL.
The Property Lifestyle Stokvel will be guided by its constitution, laws, regulations and policies. The constitution, will cover the
frame work within the Stokvel, on how it shall operate; & with the Administrator seeing to the day to day operations of the
Stokvel. The Property Lifestyle Stokvel laws, policies and constitution shall be reviewed and changes will be made in
consultation with members.
The Property Stokvel Administrators primary objective is to help ordinary South Africans achieve financial freedom through
property investing and to also assist members to acquire & develop property.
This is achieved by providing the best possible properties, together with innovative planning solutions & wealth protection.
PLS is a property Stokvel- Association structured under oGatsheni as an autonomous body, that shall assist in building lasting
wealth through growing its members property portfolios. We shall assist members to master every phase of a successful
property development and investment.
This involves
The professional team assists investors to research, identify, structure, finance, acquire and manage top-
performing residential investment properties.
Identifying, acquiring and managing top properties that provide above-average rental income and capital growth
yields.
Empower themselves with cutting-edge financial education, tools, resources and a team of property
professionals.
We are specialists in providing South African buy-to-let property investments yielding high income for our
investors.
Our team shall develop strategists that will evaluate a members current position, work out a step-by-step plan, to
ensure the correct property development and wealth. We will also help to find, negotiate, structure and acquire below-
market value properties, either in newly-formed property structures, etc.
We shall work closely with our members to select the right property deals tailored to meet their investment
requirements, to help them achieve their long-term financial objectives.
We have a very clear and detailed due diligence process that we carry out on every new property deal.
oGatsheni and/or its partners will create a deal that will assist the members to design and build a development of their
choice.
All the Stokvel/associated business and accounts shall be audited by a Black - owned Auditing and Accounting firm.
As mandated, all investments will be done on the principle of diversion and all assets shall be equally bought. All
members per cluster group will have a say to which area, location will they prefer their property. Properties must be
within the range as per contribution.
When time approaches to register as a co-operate financial institution (CFI), we shall permanently elect a committee as
prescribed by the constitution, with oGatsheni as the Administrator. There shall be a guiding principle policy for
properties and assets which will be purchased. In the interim, the Stokvel- Association shall be legally deemed as a
Stokvel social club - saving status.
Principle contractual agreements shall be in the form of a legal binding document that shall be covered with all parties
involved. From registration to purchasing of properties and co-jointly owning of properties to transferring of title deeds,
etc.
All Properties shall be developed by oGatsheni Architectural & Engineering and/or its Partners.
Purpose Aims and Objectives
The purpose of the Stokvel – Association is to To give financial freedom in property investment and
empower members with cutting-edge financial wealth.
education, tools, resources and a team of property
professionals who will support them in developing a To see members own land or property.
home and/ or land of their choice and secure an early
retirement through investing in property development To uplift the previously disadvantaged and excluded
and property; either residential or commercial. societies through land ownership
We shall also focus on providing property education,
detailed property research and quality services to our Distribution of wealth through property investment and
members. wealth.
To Provide property education, workshop and training.
To make the Stokvel – Association self sustainable.
To Promote unity amongst members.
3.1MEBERSHIP
1. To be a member; one must be a South African Citizen.
2. Be 18 years & older.
3. Have a solid and stable source of income over a prolonged period.
4. To be committed for the stipulated years
5. Registration Categories (5% of Annual contribution, these are monies for administrational and legal purposes)
6. Abide by the constitution, policies, laws and regulations of the Stokvel-Association
3.2 ORDINARY MEMBERHIP
3.2.1 As per 3.1 guideline.
3.3 SPOUSE/PARTNER (DUAL MEMBERSHIP)
Membership for a Spouse/Partner who wish to share in contributions for registration and category/ partners who would like to join
separate Categories.
e.g. Category A e.g. Category C & D
REGISTRATION REGISTRATION
Member R4500 Member R4500 (Category C)
Spouse/Partner 1 R4500 Spouse/Partner 1 R3,500 (Category D)
R9000 R8000
PREMIUMS PAYMENT
PREMIUMS PAYMENT
Member R7,500.00
Member R7,500.00 Category C
Spouse/Partner R7,500.00
Premiums R15,000.00 Spouse/Partner R5,500.00 Category D
Premiums R13,000.00
** Members to receive their dues on the same year regardless of allocation unless
otherwise.
3.4 FAMILY/PEER MEMBERSHIP (PACKAGES BUILD/BUY TO SELL/ BUILD /BUT TO RENT OUTZ0 3.4.1This membership is given to family members of the same clan/. 3.4.2 For registration purposes 3.4.2.1 A certified avidity needs to accompany such application- registration with supporting FICA documents of all registering members within the same family. 3.4..3 The only package that is applicable to this membership is to build to rent out or to build to sell, however should it be they want the other packages to apply, a letter should be sent to the Administrator stating reasons. 3.4.4 Members of this Cluster- Pool shall be group together. 3.4.5 A letter of motivation for such application should also be attached as a supporting document. 3.5.6 The application, form needs to be accompanies with all individual IDS, Proof of Residence, Salary Note ( If applicable), Business Registration Doc (If Applicable) and/or 3 Months Bank Statement 3 5 STOKVELS, ORGANISATION AND CHURCHES (Packages that apply FOR BUILT/BUY TO SELL OT BUY/BUT TO RENT OUT) 3.5.1 Membership is given to an organization, however they need to elect a Public representative, who will represent them in all Programme and Activities. The Organization needs to submit a letter of APPOINT FOR THE Public Representative signed by everyone, 3.5.2. A certified avidity needs to accompany such application- registration with supporting FICA documents of all registering members within the same family. 3.5..3 The only package that is applicable to this membership is to build to rent out or to build to sell, however should it be they want the other packages to apply, a letter should be sent to the Administrator stating reasons. 3.5.4 Members of this Cluster- Pool shall be group together 3.5.5 The application, form needs to be accompanies with all individual IDS, Proof of Residence, Salary Note ( If applicable), Business Registration Doc (If Applicable) and/or 3 Months Bank Statement.. 3.5.3Members under this membership are also deemed as part-time members and may attend the programmes and activities when an invitation is extended.
4.1 Completion of the Application form attached with the following supporting documents:
1. Copy of ID
2. Proof of Residence (Not less than three months old)
3. Copy of bank statement confirming banking account (not less than three months old)
4. Company Registration Documents ( Business Individual)
5. Organization Letterhead (Organization Membership)
6. Proof of Income (latest available date- not older than two months)
4.2 On confirmation of application, a letter of acknowledgement will be sent to a member. Once the member is in possession of
an acknowledgement letter, a member can proceed to make payment of his/her membership-admin fee.
8 YEARS Term (2019 – 2028) – Cluster Members will be grouped into a Category Cluster-
Pool, made of eight (8) members per pool, guided by the registered categories (A-E). Allocation
of table position and placement of the Category Cluster-Pool is guided by “FIRST COME, FIRST
SERVED BASIS“ RULE, as they is no systemic formula for allocation/placement.
Year 1 =M1 Year 2 =M2 Year 3 =M3 Year 4 = M4
2020/2021 2021/2022 2022/2023 2023/2024
Year 5 =M5 Year 6 =M6 Year 7 =M7 Year = M8
2024/2025 2025/2026 2026/2027 2027/2028
EXAMPLE OF CLUSTER –POOL ALLOCATION/PLACEMENT
e.g. Category A/B/C/D E - Durban
8 Members Registered e.g. Category A/B/C/D /E
1. Vusimuzi Cluster Durban Category 16
MEMBER 1 MEMBER 2
2. Mabena Members
3. Lunga 1. Vusimuzi
4. Thembi 2. Mabena
5. Zodwa 3. Lunga 9. Leon
6. Gugu 4. Thembi 10. Anthony
7. Dudu 5. Zodwa 11. Radebe
8. Amos 6. Gugu 12. Menzi
MEMBER 3 MEMBER 4
7. Dudu 13. Khumalo
8. Amos 14. Ndaba
15. Gijima
16. Sonto
CLUSTER DURBAN 1 CLUSTER - POOLDURBAN 2
CLUSTER - POOL DURBAN 1 CATEROGRY A/B/C/D/E CATEGORY A/B/C/D/E
1. VUSIMUZI 1. VUSIMUZI 1. MABENA
MEMBER 5 MEMBER 6
2. MABENA 2. LUNGA 2. THEMBI
3. LUNGA 3. ZODWA 3. GUGU
4. THEMBI 4. DUDU 4. AMOS
5. ZODWA 5. LEON 5. ANTONY
6. GUGU 6. RADEBE 6. MENZI
7. DUDU 7. KHUMALO 7. NDABA
8. AMOS 8. GIJIMA 8. SONTO
MEMBER 7 MEMBER 8
24 Members – Registered
Members
1. Vusimuzi 9. Leon 17. Lammy
2. Mabena 10. Anthony 18. Berry
3. Lunga 11. Radebe 19. Wisdom
4. Thembi 12. Menzi 20. Lolo
5. Zodwa 13. Khumalo 21. Kaizer
6. Gugu 14. Ndaba 22. Mpilo
7. Dudu 15. Gijima 23. Sebenzi MEMBER 1 MEMBER 2
8. Amos 16. Sonto 24. Tholi
Durban Cluster Pool 1 Cluster Durban 2 Cluster Durban 2 Category A/B/C/D/E
Category A/B/C/D/E Category A/B/C/D/E
Vusimuzi Mabena Lunga
Thembi Zodwa Gugu
Dudu Amos Leon
Anthony Radebe Menzi
Khumalo Ndaba Gijima
MEMBER 3 MEMBER 4
Sonto Lammy Berry
Wisdom Lolo Kaizer
Mpilo Sebenzi Tholi
MEMBER 5 MEMBER 6
MEMBER 7 MEMBER 81. On the formation of the cluster groups, it is the prerogative GROUP OF 8 – CATEGORY A -D
of the Administrator (oGatsheni) in grouping and allocating
of members as per registration. (members would in some
instances be grouped regionally as the traditional laws may
dictate that only locals have access/right to land where it is
leased by the local traditional authorities)
2. no member shall have the right to formation and allocation
of cluster group(s).
3. Grouping is based on “FIRST REGISTRATION, FIRST
SERVED, FIRST PLACED” RULE.
4. Groupings will be guided by members information and
members shall be grouped as per province and city.
5. A member has the right to appeal such a decision. A
member will need to write and email a letter to the
Administrator (oGatsheni). The letter should be titled
“cluster group dispute allocation” should he/she feel not
properly placed/accommodated.
6. A member who disputes the second response from the
Administrator, can then direct his/her letter to the SG of the
Stokvel.
7. All grouping shall be as per category registered.
8. Only special cluster shall have relaxed laws to groupings
and allocation.
9. Cluster - Groups shall have their own representation.
10. A Allocation list shall be sent to all member, such list will be
revised from time to time. Category A: R15,000.00 Category B: R10,000.00 Category C: R7,500.00 Category D: R5,500.00 Category E: R3,500.00 ** Categories A-E determines the monthly premiums that a member shall pay monthly for a period of 9 years. To match the value of the 1st property to the 8th property, the premiums are subjected to an increase based on the inflation percentage or a percentage (%) as decided by the National Property Assembly. A member shall not be warranted to change his/her category for a period of nine (9) years. Unless in a period for upgrade/downgrade, which shall only be declared by the Administrators office.
TOP UP OPTIONS DESCRIPTION
TOP UP LAND (Already This option is only applicable to members, who wishes to for their HOUSE to be built
Existing)excluding the Chiefs Land, to his/her already existing land as a TOP UP OPTION. A member who goes with this
Traditional Land also known as PTO option, will need to get into an agreement with members in his/her Category Cluster-
Pool a MOU drafted by both parting, leasing his/her land to his Cluster- pool for a
period of 9 years.
LAND TO TOP UP This option only applies to a member who wishes to stay in a better suburban area
or
MONEY TO UP This Option is applicable to a member who wish to stay in a up market area/site or a
member who wishes to to add more rooms to his/her Standard Architectural Plan as
per his/her Category.
UPGRADE/DOWNGRADE A Member may upgrade his/her Category to a different when the Administrators
Office declares the floor – crossing window SPECIAL CLUSTER GROUPINGS (Special projects)
1. The Medics - (Medical Practitioners, Dentist, Pharmacist, etc.)
2. Companies & Businesses
3. International (diaspora) – ( South Africans Living Abroad)
4. Soccer and Artists Cluster
5. Families and Friends
6. Organization and Churches
7. Tribal Land allocated homes/properties
** These Clusters are to accommodate members who wish to be grouped within such special groups to enhance their common
goal in achieving the primary goal as set by the Ultimatum vision of the Stokvel-Association.CATEGORY AMOUNTS MONTHS ANNUAL MEMBERSHIP-ADMIN FEE IS
(PER MONTH) (CONTRIBUTION PER CALCULATED
MEMBER) @ 8.5% PER ANNUAL FEE
A R15,000.00 X 12 R180,000.00 R15,300.00
B R10,000.00 X 12 R120,000.00 R10,200.00
C R7,500.00 X 12 R90,000.00 R7,650.00
D R5,500.00 X 12 R66,000.00 R5,610.00
E R3,500.00 X 12 R42,000.00 R3,570.00
***Registration fees/ Administrational fees are at a 8.5% calculation base, which is based on the total annual contribution. services of a member and
administrative assistance or services shall be based as per admin fee percentage contribution.CATEGORY AMOUNTS MONTHS ANNUAL
(PER MONTH) (CONTRIBUTION PER
MEMBER)
A R15,000.00 X 12 R180,000.00
B R10,000.00 X 12 R120,000.00
C R7,500.00 X 12 R90,000.00
D R5,500.00 X 12 R66,000.00
E R3,500.00 X 12 R42,000.00Category Amounts Months Annual Group of 8 Annual Contribution
(per month) (Contribution per (House Range)
Member)
A R15,000.00 X 12 R180,000.00 8 R1,440,000.00
B R10,000.00 X 12 R120,000.00 8 R960,000.00
C R7,500.00 X 12 R90,000.00 8 R720,000.00
D R5,500.00 X 12 R66,000.00 8 R528,000.00
E R3,500.00 X 12 R42,000.00 8 R336,000.00 Category A: R1,440,000.00 (200 sqm -250 sqm) Category B: R960,000.00 (150 sqm – 200 sqm) Category C: R720,000.00 (100 sqm – 170 sqm) Category D: R528,000.00 (50 sqm – 150 sqm) Category E: R336,000.00 ( 50 sqm – 100 sqm) ** As per cluster grouping, a member shall develop, acquire land or property as per category range and contribution. All properties shall be co-owned by the 8 members until the 9th year and on the end of the 9th year, the Cluster- groups shall be dissolved should they not have any shares in other property schemes. All properties shall be transferred to their rightful owner as per grouping allocation in position. ****Property ranges as per contribution shall increase annually based on the premium increment fee structure which shall be determined by an inflation percentage or percentage agreed by the Peoples Assembly (AGM)
DESCRIPTION SINGLE STORY SINGLE DOUBLE DOUBLE
– 3 BEEDROOM STOREY – 4 STOREY - 3 STOREY – 4
BEDROOM BEDROOM BEDROOM
LAND R440,000.00 R350,000.00 R300,000 – R250,000 –
BUILDING FEE R1,000,000.00 R1,100,000.00 R1,150,000.00 R1,200,000.00
(R1M) (R1,1M) (R1,15M) (R1,2M)
RATES & LEVY Cluster Pool to Cluster Pool to Cluster Pool to Cluster Pool to
pay pay pay pay
WATER AND Occupant/ Occupant/ Occupant/ Occupant/
ELECTRICITY Cluster Pool Cluster Pool Cluster Pool Cluster Pool
PRICE RANGE: R1,400,000.00 (R1,4M)
** Price Range are Adjustable annually based on an inflation percentage or a percentage agreed by
members at the Property Assembly (AGM) annually.
TOP UP for flat/ concrete Roofs, an additional rooms and/or complex Architectural designs (Option)
Artist Impression - Credits: Design (Porch decking, landscaping
and driveway not included
** Should a member wish to develop in an up-market area, he/she has the right to
Top up by any amount.DESCRIPTION SINGLE STORY SINGLE DOUBLE DOUBLE
–3 STOREY – 4 STOREY - 3 STOREY – 4
BEEDROOM BEDROOM BEDROOM BEDROOM
LAND R450,000.00 R350,000.00 R300,000 – TOP UP
OPTION
BUILDING FEE R550,000.00 R600,000.00 R650,000.00 TOP UP
OPTION
RATES & LEVY Cluster Pool to Cluster Pool to Cluster Pool to TOP UP
pay pay pay OPTION
WATER AND Occupant/ Occupant/ Occupant/ TOP UP
ELECTRICITY Cluster Pool Cluster Pool Cluster Pool OPTION
PRICE RANGE: R960,000.00 (R960K)
** Price Range are Adjustable annually based on an inflation percentage or a percentage agreed on
at the Property Assembly (AGM) annually.
TOP UP for flat/ concrete Roofs, an additional rooms and/or complex Architectural designs (Option)
** ** Should a member wish to develop in an up-market area, he/she
Artist Impression - Credits: Design (Porch decking, landscaping has the right to Top up by any amount.
and driveway not includedDESCRIPTION SINGLE STORY SINGLE DOUBLE DOUBLE
–3 STOREY – 4 STOREY - 3 STOREY – 4
BEEDROOM BEDROOM BEDROOM BEDROOM
LAND R300,000.00 R200,000.00 N/A N/A
BUILDING FEE R450,000.00 R550,000.00 N/A N/A
RATES & LEVY Cluster Pool to Cluster Pool to N/A N/A
pay pay
WATER AND Occupant/ Occupant/ N/A N/A
ELECTRICITY Cluster Pool Cluster Pool
PRICE RANGE R7,200.00 **Adjustable by inflation percentage/percentage agreed on @ Property
Assembly (AGM) annually
Artist Impression - Credits: Design (Porch decking, landscaping
and driveway not included
TOP UP for flat/ concrete Roofs, an additional rooms and/or complex Architectural designs (Option)
** ** Should a member wish to develop in an up-market area,
he/she has the right to
Top up by any amount.DESCRIPTION SINGLE STORY SINGLE DOUBLE DOUBLE
–2 STOREY – 3 STOREY - 3 STOREY – 4
BEEDROOM BEDROOM BEDROOM BEDROOM
LAND R250,000.00 R200,000.00 N/A N/A
BUILDING FEE R250,000.00 R300,000.00 N/A N/A
RATES & LEVY Cluster Pool to Cluster Pool to N/A N/A
pay pay
Artist Impression - Credits: Design (Porch decking, landscaping
and driveway not included WATER AND Occupant/ Occupant/ N/A N/A
ELECTRICITY Cluster Pool Cluster Pool
PRICE RANGE R1,400,000.00 R1.4M **Adjustable by inflation percentage/percentage agreed on @
Property Assembly (AGM) annually
TOP UP for flat/ concrete Roofs, an additional rooms and/or complex Architectural designs (Option)
**DESCRIPTION SINGLE STORY SINGLE DOUBLE DOUBLE
–1 STOREY – 4 STOREY - 3 STOREY – 4
BEEDROOM BEDROOM BEDROOM BEDROOM
LAND N/A N/A N/A N/A
BUILDING R320,000.00 N/A N/A N/A
/BUYING
FEE
RATES & LEVY Cluster Pool to N/A N/A N/A
Artist Impression - Credits: Design (Porch decking, landscaping pay
and driveway not included
WATER AND Occupant/ N/A N/A N/A
ELECTRICITY Cluster Pool
PRICE RANGE R320,00.00 (RR320K)
**Adjustable by inflation percentage (%) agreed on @ Property Assembly (AGM) annually
TOP UP for flat/ concrete Roofs, an additional rooms and/or complex Architectural designs (Option)
** Members in this Category may Land Top Up or
Top Up with money to add rooms.Artist Impression Credits: Design
14.1 Land is only provided for Category A – C, Members of Category D- E can either provide their own land or advise of a land on a market value that is to their range. Members of category A – E can also use the “TOP UP” option. 14.2 The Chief Agent Officer/Real Estate Agent Office and his/her team shall release a short list of sites/land that is to their preference, and the member shall have 14 days to advise the office, so an offer can be placed. 14.3 Members my choose or select an area/site that is to their range within their contributions.
1. BUY/PURCHASE TO OCCUPY
Should the receipted choose this option and advise to occupy the property purchased on his/her behalf but co-owned by the
cluster group, he/she will pay rent money (discounted rate) for the period of 9 years to the cluster group, which is also referred
to as RENT TAX (as a member should not pay rent that would be to a market value). A member will have to pay a lower rent
(rent tax). The amount of money (rent tax) shall be determined by the cluster group and approved by the Administrator. The rent
tax shall be equally distributed to all 8 members within the cluster group.
E.G FOR RENT TAX – CO-OWNERS
STANDARD -NORMAL RENT R6,000.00
“RENT TAX” – (Discounted Rent which is guided by R3,000.00
the area market rent)
MEMBERS ( 8 IN THE POOL) EQUALY DIVIDES R3,000.00 / 8 = R375 each
.
MEMBER DUE R375 each
** Levies and rates affairs are to be covered by the member2. BUY/PURCHASE TO RENT OUT
A recipient shall guide his cluster group members, of his/her intentions, should he/she choose this option, the members shall
seek services to rent out the place and all rental incomes shall .
E.G FOR RENTAL INCOME – CO-OWNERS
STANDARD -NORMAL RENT R6,000.00
MEMBER DUE 50% TO MEMBER WHO CHOOSE R3,000.00
THIS OPTION
50% RENTAL TAX IS DISTRIBUTED FAIR AMONST R3,000.00
MEMBERS
MEMBER DUE R3.375.00
** Levies and rates affairs are to be covered by the member3. BUILD TO SELL (with members in different packages)
Should the due recipient go with this option or cluster- group, they shall seek the oGatsheni services as the developer or
Partner services (Administrator approval) to develop such property and then an in-house Estate Agent shall find a buyer. On the
sale of such development the profits made shall be equally distributed to all group members.
E.G BUILT TO SELL -PROFIT– CO-OWNERS
BUILT FOR R1,400,000.00
“SOLD FOR R2,400,000.00
PROFIT R1,000,000.00
60% Profits goes to member due R600,000.00
40& Profits is shared equally amongst the pool of 8 R400,000.00
members
All member receiver R50,000.00
MEMBER DUE R650,000.00
When all members receive their Title Deeds R1,4000.00 (Will be paid to the member)3. BUILD TO SELL (Same special Cluster Package)
Should the due recipient go with this option or cluster- group, they shall seek the oGatsheni services as the developer or
Partner services (Administrator approval) to develop such property and then an in-house Estate Agent shall find a buyer. On the
sale of such development the profits made shall be equally distributed to all group members.
E.G BUILT TO SELL -PROFIT– CO-OWNERS
BUILT FOR R1,400,000.00
“SOLD FOR R2,400,000.00
PROFIT R1,000,000.00
All members receive R125,000.00
Member Due R125,000.00
When all members shall either have an option to rebuild R1,4000.00 (Will be paid to the member on the 9th year)
or use their profits to build a second house.
** Levies and rates affairs are to be covered by the member4. BUILD TO RENT OUT
Should the due receipting go with this option or cluster- group, they shall seek the oGatsheni services as the developer or
Partner services (Administrator approval) to develop such property and then an in-house Estate Agent shall
Find tenants to let. Income Rental fees shall be equally distributed to all group members.
E.G FOR RENT TAX – CO-OWNERS
STANDARD -NORMAL RENT R6,000.00
MEMBER DUE TAKES 50% R3,000.00
MEMBERS ( 8 IN THE POOL) EQUALY DIVIDES R3,000.00
MEMBERS ( 8 IN THE POOL) R375 each
MEMBER DUE R3,375.00Purchase Land to Develop
Should a recipient wish to use the funds due to his/her intentions to purchase land, the land shall be co-owned and the
recipient should have a plan for such land within the period of 2 years.
NOTE – No money will assist a member to pay an existing bond or renovate any existing properties. All monies shall
not go to an existing agreement or property registered under the sole member.Property Education and Seminars The Stokvel-Association shall organize seminars, workshops and educational platforms for Property Development and wealth. Our support team/Leaders shall advise members of upcoming training and educational seminars and resources such as books, checklists, etc. so you can grow your knowledge and expertise as a professional property investor. They shall be taught how to successfully, intelligently and profitably invest in property and build a sustainable, tax free portfolio. Sharing of secrets of the most wealthiest property entrepreneurs and how they acquired multi-million property portfolios with other people’s money (OPM) and how you can do it too. We shall equip our members with the necessary tools, knowledge and peace of mind for how cluster group can make business and make property their retirement savings.
16.1 For the first year (2018) contributions all members
premium payments contributions, shall be saved in the
Stokvel-Association account. Which shall also be
referred too, as an Guarantee – Investment Account. The
Administrator and National Property Working Committee
will be tasked to propose strategies of making the funds
have interests and the Stokvel-Association making
money to be self sustainable.
16.2 Proposed Options
A. 1. Mini Estate – Members will qualify to be
shareholders of the Mini Estate , shares will be
distributed as per their contributions
B. 2. Internal Bank (CFI)
C. 3. Investment Options
• Proposals of how the Guarantee account shall be
used, will be presented by the leadership and
resolutions will be taken during the
November/December NATIONAL PROPERTY
ASSEMBLY “AGM” 50 luxury Rooms 10 x Bachelor Pads 10 x 1 Bedrooms 10 x 2 Bedroom 20 x 3 Bedrooms 3/5 Stokvel Members Vocational/Holiday Home. (Guest House) Club House 2 x Offices Boardroom Lounge Gym 2 x Restaurant Business Hub
Services due to the membership body
1. Free PROPERTY CONSULTATIONS
2. Discounted PROFESSIONAL FEES
3. Discounted oGATSHENI turnkey services (Architectural Plan, developments and services)
4. Discounted building costs and evaluation
5. Assistance in property search and acquiring
6. Discounted legal fees – Admin % BASED on a member as per contributing
7. Pre-launch access to NEW DEVELOPMENTS
8. Discounted TRUST ACCOUNTING FEES
9. Consultations with in-house service providers
• members have exclusive access and FREE consultations with oGatsheni accredited service providers/partners,
including Trust experts, financing strategists, tax specialists, financial advisors, rental agents, as well as estate
agents and property consultants.
10. Property acquisition strategy
• Our specialists will help you with a holistic property strategy and plan; tailor-made to your cash flow, affordability,
current exposure and END goal.
11. Access to list of auction/distressed and below market value properties
• You will get the opportunity to buy properties for up to a % below current market value, and
enjoy oGatsheni exclusive turnkey service of proper due diligence, acquiring, financing and selling.
12. Customized financing strategy
• Our specialists will help you formulate a VERY unique tailor-made financing strategy, property
acquisition strategy that will substantially increase your financing capacity and potential.1. Discounted oGatsheni Architectural and Construction services
2. Assistance of oGatsheni/Stokvel Partners and Support Services
3. Shall be assisted with house evaluation
4. Home Value Assistance
5. Assistance in Legal fees
6. A member shall get legal subsidy as per % contribution
7. Consultations with oGatsheni service provider(s).
• members have exclusive access and FREE consultations with oGatsheni and Partners plus accredited service
providers, including trust experts, financing strategists, tax specialists, financial advisors, rental agents, as well as estate
agents and property consultants.
8. New developments Pre-launch access.
• Gain exclusive and first view options to pre-launch opportunities. These properties give members access to the best
properties at the best prices and locations in a particular development.
9. Property Acquisition & Financing Strategy.
• Our specialists will help you with a holistic property strategy and plan tailor-made to your cash flow, affordability, current
exposure and end goal. This includes a unique tailor-made financing strategy that will substantially increase your
financing capacity and potential.oGatsheni Partners team consists of: 1. Architects 2. Quantity Surveyor 3. Landscapers 4. Builders/Contractors and Trades man 5. Real estates 6. Property Developers 7. Property investment strategists 8. Property management specialists and letting agents 9. Trust attorneys 10. Conveyancing attorneys 11. Financial planners (authorized and accredited financial advisors) 12. Financing strategists 13. Chartered accountants and tax accountants 14. Events and Promotions company 15. Branding and Marketing company & many more **In Awarding business to partners a Rotational System shall apply. (All partners shall be Registered and Approved by the Administrator and/or Executive board and NPWC )
1. Work with our expert team
• Our team of experts shall assist and support members.
2. Property and Wealth
• oGatsheni has negotiated for many Client property opportunities below their market value and
shall also continue working with its partners to negotiate on behalf of its members. These rental
properties are in demand and shall provide members with high capital growth. We shall work
closely with our members in selecting the right property deals that are tailored to meet your
investment requirements and help to achieve long-term financial objectives.
3. Legal Team
• Each of our specialized legal teams delivers impeccable service in their own field of law. The
number of experts in each team ensures that it is richly resourced and able to deliver close and
personal services to each property club member. The legal team will assist with the formulation of
a dual trust structure and also act as independent trustee, as required by legislation. Our legal
team offers comprehensive advice on estate planning, the drafting of wills and all aspects of trust
administration.
4. Accounting Team
• Once Members have established the trust set-up it is of utmost importance to appoint a
professional trust accountant to manage the trust's accounting aspects. SARS will require income
tax returns at the end of each financial year. It is important that precise bookkeeping is
executed from the outset, as trust accounts must show all assets held. Accurate and
orderly sets of books will ensure that no doubt exists about the ownership of the trust’s
assets in the event that a member comes under attack from creditors.6. Conveyancing Attorneys
Our conveyancing (transfer) attorneys offer full support throughout the process of finalizing the transfer of a property
to a member, and closely monitor the conveyancing process from start to finish.
oGatsheni shall negotiate large discounts on conveyancing (transferring) fees for members.
Letting Rentals Agents - Conducting credit checks, drawing up leases, inspections each time a new tenant
vacates, rent collection etc... The admin involved in rental management does not suit all investors, although some
might consider that it would be a good experience to let their properties themselves. oGatsheni cautions investors to
follow this strategy only after due consideration and having conducted extensive research beforehand to gain a full
understanding of the entire process.
oGatsheni believes that members' time is more valuable, and so advises them to leave these very important
functions in the administration of a property portfolio to a capable letting agent who has the necessary resources,
manpower and expertise at hand.
Accounting and Trusts
services:
• Advise clients on all aspects of trust, company and property law;
• Attend to the drafting of Wills;
• Submit annual returns for companies
• Attend to the drafting and lodging of trust registration documents;
• Attend to the drafting and lodging of company registration documents
(Private Companies and NGO’s / PBO’s)
**More oGatsheni & Partner services to be added• **A member or cluster – pool group shall cover the following costs towards the property.
1. Rental insurance
2. Transfer tax
3. Tax expenses
4. Water & Electricity
5. Rates and Levies
6. (other member costs to be covered as per transfer or insurance will be further updated, or added within the next
updated/revised guideline document)20.1 Cancellation of Membership Our membership/administrational fee is 100% risk free. If you're not happy with our Stokvel – Association for any reason, simply let our friendly support team know (via email) and we will happily refund your money within 30 day from registration, however after 30 days after registration no money will be refunded. 20.2 Retrenchment 20.2.1 Incase of retrenchment, a member/benefactor will decide on either to continue or withdraw his membership. On his/her withdrawal, a 75% of his/her contributions will be refunded to the member. 20.2.2 NPWC will look at an insurance that will cover a member in terms of retrenchment of which this may affect members premiums should they take a policy that will cover their retrenchment or death. 20.3 Death 20.3.1 In case of death, the law that governs how a deceases estate is wound up will also govern one as a member; it will be up to a members last will and testament, if a member has one. If a member does not have a last will and testament, or a Letter of Wishes, legal advisors will assist in terms of the next kin. (evidence of death, such as a death certificate should be produced). 20.3.2 The membership of a member who has died may in terms of this terms of this clause be transferred to a member of that deceased members family or another person appointed by the executor of the deceased members estate subject to the approval of the Administrator and/or Executive Board of the proposed transferee. In the event of such transfer not taking place the membership of the deceased member shall be terminated by the resolution of the Administrator or Executive Board And 100% contributions will be paid out to the member. A member will be paid out 20.3.3 20.2.2 NPWC will look at an insurance that will cover a member in terms of retrenchment of which this may affect members premiums should they take a policy that will cover their retrenchment or death.
Cancellation
1. • A Member has to notify Stokvel-Association of his/her intention to cancel, 30 days before cancelling his/hermembership, which
entails that a pro-rata premium could be collected at the next collection date. Scenario: Should a member his membership on
the 7th of a month, the cancellation will be effective from the 7th of the following month.
2. • Stokvel-Association may cancel your membership by giving a 30 days' notice. Stokvel-Association may give a notice orally, by
email, fax or post to a members address..
3. • Stokvel-Association will cancel a members membership with immediate effect should a member, anyone covered under
policy or anyone acting on his/her behalf fails to comply with Stokvel - Association's reasonable instructions or requests,
commit fraud or is found to be dishonest in any relation.
4. • If a member does not pay his monthly premium for 3 months in a row; his membership will cancel automatically from midnight
on the last day for which premium/membership contribution should have been received and a member shall forfeit his/her
contribution.
5. • A members membership will automatically be cancel should his/Her annual membership fee/contribution not be paid on the
collection date or on the date after the grace period has lapsed.
6. Refunds in the event of cancellation If a premium has been paid for any period beyond the date of cancellation of an insured
item or this policy, Stokvel-Association will refund 40% - 70% of contribution/payments as guided by the table below. Any
administrative costs, shall also be deducted.
Year Refunds
1 Year 1 - 5 40%
. 2 Year 5-7 60%
3 Year 7-8 70%
NOTE: Other clauses are covered in the Principle Contractual Agreement Contract, that shall serve as the final legal
binding document of the Stokvel. A member has 14 days to sign his contract after registration.. - PRINCIPLE
CONTRACTUAL AGREEMENT CONTRACT, TO BE ISSUED TO ONLY REGISTERED MEMBERS.Payments - pay premium
A member will pay every month and no later than the 7th day of a new month.
Members who have not paid membership/registration/admin fee shall not be deemed as members of the Stokvel.
A member MUST NOT MIX his/her registration/administration fee with his/her premiums. Should a member mix payments or pay
into the wrong account, they will be charged administration fees.
A member MUST NOT MAKE PAYMENT TO ANY PERSON/LEADERSHIP but should directly make payment to the Stokvel account.
A member should always produce proof of payment at all times. Members should scan and email the proof of payment to the PLS
official email address – propertylifestylestokvel@gmail.com.
A member shall have the option to pay once off, quarterly, half-yearly etc.,
A member who fails to pay due to financial issues should write a letter to the Treasures office.
The treasure will grant the member a three months grace period.
Should a member fail to make payment within the grace period he has the option to either seek an extra month grace period or
withdraw from the club.
If a member withdraws due to failure to make payment he/she is deemed to lose 30% of his contributions.
Contribution will increase by a percentage based on inflation rate and members shall vote and agree upon the % based on inflation at
every National Property Assembly “AGM”
Premiums which is noted and missed, is due and must be paid in advance monthly or annually.
It is upon the member to make arrangements on the method of payments.
Grace period to pay premium
If Stokvel-Association does not receive my premium on the collection date, I will not have any cover for the period for which I did not
pay.
Penalties & Levies
R200.00 late payments After the 7th of each month, late payment charges will be effectives
R 150.00 Payments paid into the wrong account
R50.00 for members who use incorrect reference number The bank account ,will temporary be held under 903 Prestige Stokvel Club, a club that has been in existed for
6 years and which banks with Standard bank. It will be a parallel structure to the property lifestyle Stokvel
even though the Property Stokvel is an autonomous body. 903 Prestige Club is a Stokvel that is
Administrated and Chaired by Mhlekazi Andile Siyabonga Ndhlovu ,who is the Director of oGatsheni
Architectural & Engineering. The Property Stokvel, shall be mandated within 6 months of operation to open a
Trust Fund/Bank Account (pending). During the process to finalize the Property Stokvel Trust Fund/ Bank
Account; all premium monies will be paid to Standard Bank, 903 Prestige Account - once a Trust Fund / Bank
Account has been opened and is operating, all premium monies will be transferred from 903 Prestige Account
to the Property Lifestyle Stokvel Trust Fund / Bank Account. The account signiturious will be disclosed to all
members.
No Premium money, should be paid to the oGatsheni and Architectural account,. oGatsheni ,shall ONLY
accept membership/ registration/administration fees, as it will serve as the administrational fees to assist
in the daily operations, administering and functioning of the office. oGatsheni as the Administrator is entrusted
with the functioning of the Stokvel and shall be accountable to the treasureReg/Membership fee Premiums as per
Account Category Account
Banking Details Banking Details
Bank Name: FNB Bank Name: Standard Bank
Account Holder/Name: oGatsheni Account Holder/Name: 903
Architectural & Engineering Prestige Club
Account Number: 62701481525
Account Number: 056448511
Branch Name: Davenport
Branch Name: Universal
Branch Code: 250655
Ref: PLSYA, Initials & Surname & Branch Code: 051001
Date of Birth: e.g. PLSYA REG Ref: PLSYA & Membership
K.A Dladla 13-07-1971 or Number: e.g. PLSYA
Membership Number (Membership Number)FOLLOW OUR SOCIAL PAGES
CELLPHONE 1: 067 001 3113/0659813227 (OFFICE) – HELP DESK (SMS/WHATSAPP)
CELLPHONE 2: 0671698610 – ENQURIES FOR REGISTRATION ,
CONFIRMATION LETTER/ CONTRACTS
CELLPHONE 2: 061485 2523 (WHATSAPP ONLY IN CASE OF EMERGNCY)
EMAIL: propertylifestylestokvel@gmail.com
SOCIAL MEDIA: @propertylifestylesa
WEBISTE: www.ogatsheni.co.za
ADDRESS: 78 Field CBD
78 Joe Slovo Street
Durban
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