5.1 Unit owners must pay a monthly levy to the body corporate - NSC Consumer Studies - Question 5 - 2021 - Paper 1
Question 5
5.1 Unit owners must pay a monthly levy to the body corporate. Name THREE expenses that are paid using the levy.
5.2 Explain the advantages of buying and renting pr... show full transcript
Worked Solution & Example Answer:5.1 Unit owners must pay a monthly levy to the body corporate - NSC Consumer Studies - Question 5 - 2021 - Paper 1
Step 1
Name THREE expenses that are paid using the levy.
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Answer
Pay wages and salaries of staff that work for the complex.
Maintain the buildings/common areas.
Pay for water for the common areas.
Step 2
Explain the advantages of buying and renting property.
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Buying
Renting
Become the owner of the property.
Not the owner of the property; therefore there is less responsibility and maintenance.
Investment can accumulate wealth as property value increases.
Easier to move, as it involves fewer monthly expenses.
It is cheaper to rent as there are no further monthly expenses and saved money can be invested.
Step 3
Identify the stove that uses the most non-human energy.
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Answer
Stove A uses the most non-human energy as it operates both on electricity and gas.
Step 4
Give a reason for the answer to QUESTION 5.3.1.
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Answer
Stove A uses both gas and electricity, while Stove B only uses gas.
Step 5
Explain why STOVE B will be the most suitable choice.
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Stove B is more suitable because:
It uses gas, which is generally cheaper than electricity, leading to lower utility bills.
It can be used during load shedding, providing reliability in times of energy cuts.
The overall use of gas can save electricity costs, making it a more economical choice in the long run.
Step 6
Calculate the total price of STOVE B if it is bought on an instalment sale transaction. Show ALL calculations.
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To calculate the total price of STOVE B:
Deposit: R395,00
Instalment sale: R400,00 × 24 months = R9600,00
Total: R395 + R9600 = R9995,00
Step 7
Explain the possible financial impact of the 2020 national lockdown on property landlords.
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Tenants could not have been evicted if they could not pay the rental.
Loss of income from rental properties if tenants could not pay their rent.
It could have been difficult to get new tenants if tenants moved out.
Landlords may have had to live with family members during the lockdown which could lead to increased utility bills.
Landlords might need to lower rents to attract tenants, impacting potential revenue.
