Verge Deposit

Subsequent to the HOA’s plan approval process: Once drawings are also approved by the CoCT (City of Cape Town) and prior to occupation of the property/site in question for commencement of construction-related works, a few HOA documents (eg. Contractor’s Agreement & Code of Conduct) need to be completed by both the property owner and his main contractor and a verge deposit of R5000.00 paid.  This deposit is refunded upon satisfactory completion of all construction activities including landscaping of the verge, provided that there is no damage to the common property and after deduction of any fines imposed on the building contractor in terms of the contractor’s agreement etc. The cost for final authorisation of the HOA Certificate is R600.00, payable to the HOA.