Services offered to Commercial Clients
Basic Services:
Lease Management
- We will ensure that there is a valid lease agreement in place between the Landlord and Tenant. The cost of drafting an Agreement of Lease and any applicable Deed(s) of Surety shall be facilitated by ourselves and for the account of the tenant.
- We will further ensure that leases that are due for renewal are timeously renegotiated and duly signed by all parties involved.
- We will ensure that the tenants’ deposits are kept in separate interest bearing accounts with interest accruing to the tenant. Deposits will be released as agreed to in the respective Lease Agreements.
Invoice Management
- We will ensure that each tenant is furnished with a monthly tax invoice detailing the basic rental payable, any recoveries allocated for the billing period as well as a statement balance.
- Invoices will be sent via e-mail or post to all the respective tenants before the 25th of the month prior to the billing period due.
Rental Collection
- We will ensure that the rental is paid into our trust account timeously, failing which we will issue a letter of demand on the 7th day of the billing period (the cost of which will be billed to the tenant at the applicable rate as set by MMW from time to time). For the purpose of the rental collection, we may elect to open and operate a separate bank account for each building / property, as applicable.
- Should the rental come in arrears without prior arrangement, we will commence with the legal process 7 working days after the letter of demand, the legal fees of which would be recovered from the tenant but payable by the Landlord.
Accounting functions
- We will ensure that the cashbook balance is properly reconciled with the bank account balance.
- We will ensure that the payments received are allocated to the relevant invoices.
- All banking charges pertaining to the above transactions will be recovered from the Landlord, unless otherwise specified.
Payments with regards to the property
- We will ensure that all regular payments like utility bills, property taxes and other recurring expenses are paid on behalf of the Landlord, provided that the documents for the said expenses are sent or redirected to us timeously.
- All banking charges pertaining to the above transactions will be recovered from the Landlord, unless otherwise specified.
Monthly site inspections
- We will visit each of the properties in the portfolio on a monthly basis, unless otherwise specified.
- Any issues will be documented and if a problem persists / remain unresolved in spite of our best efforts and endeavors to resolve same, it will be reported to the owner for further instruction.
Additional services (which is not included in the basic services)
Legal disputes
- MMW’s involvement in a legal dispute between the Landlord and the Tenant shall be limited to the facilitation of the legal processes and shall be logged by the hour.
Insurance Claims
- MMW’s involvement in an insurance claim that is covered under the Landlord’s insurance policy shall be limited to the facilitation of the claims processes and shall be logged by the hour.
Human Resource Management
- MMW will outsource all Human Resource functions to a preferred provider and our involvement therein will be limited to the facilitation of the outsourced solution and shall be logged by the hour.
Third Party Service Level Agreements (SLA’s)
- MMW will outsource certain essential services like the servicing of fire equipment, maintenance of lifts, security and guarding, garden services, cleaning services and the likes. Our involvement in be limited to the facilitation hereof and shall be logged by the hour.
Repairs and Maintenance Management
Obtaining cost estimates from our preferred contractors
- MMW will obtain 2 quotes (if applicable) for any work to be done to any of the properties in the portfolio.
Appointment of the contractor
- After the cost estimates are received and perused, MMW will appoint our contractor of choice, bearing in mind the best interest of the Landlord. This appointment will be done on behalf of the Landlord, provided that the total amount to be spent does not exceed 1 month’s rental for the property / premises concerned, failing which the Landlord’s approval will be obtained prior to the said appointment.
Inspection of the work done
- MMW will inspect the work done and, if satisfied, sign off on the payment to be remitted to the contractor on the Landlord’s behalf. MMW will effect the payment to the contractor which payment will be set off against the monthly owner payment / the relevant cashbook.