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
Paying wages and salaries of staff that work for the complex.
Maintaining the buildings/common areas.
Paying electricity for the common areas.
Step 2
Explain the advantages of buying and renting property.
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Answer
5.2.1 OWNERSHIP
Buying:
You become the owner of the property, giving you control and the ability to make modifications.
5.2.2 INVESTMENT
Renting:
There is less responsibility with maintenance, which can reduce overall costs for tenants.
Step 3
Identify the stove that uses the most non-human energy.
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Answer
Stove A uses both gas and electricity, but Stove B only uses gas. Therefore, Stove B uses the least non-human energy.
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 solely depends on gas, which is a non-human energy source.
Step 5
Explain why STOVE B will be the most suitable choice.
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Stove B is a suitable choice because it uses gas, which generally provides a more cost-effective energy source compared to electricity. Additionally, it offers a greater number of burners for cooking, enhancing functionality.
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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Answer
The instalment cost is R400,00 monthly for 24 months, alongside a deposit of R395,00.
Calculating:
Total instalment payments:
R400imes24=R9600
Total cost of Stove B:
R9600+R395=R9995,00
Step 7
Explain the possible financial impact of the 2020 national lockdown on property landlords.
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Answer
The lockdown may lead to tenants being unable to pay rent, causing financial strain on landlords. They could face loss of income, difficulty in evicting non-paying tenants, and an increased risk of property damage if left unsupervised. Additionally, landlords may have to increase their efforts to maintain occupancy rates amidst these challenges.
