Services offered to Body Corporates as Sectional Title Management
Administration:
- Operation of a current / savings account, as well as an investment account on behalf of the Body Corporate.
- Assisting the Board of Trustees in the determination of replacement values of improvements for insurance purposes and arranging valuations when required.
- Arranging for the insurance of buildings and improvements as well as any other insurance the Body Corporate may require.
- Handling insurance claims on behalf of the Body Corporate with regard to the Common Property.
- Assisting and advising the Board of Trustees on the enforcement of rules adopted by the Body Corporate, on specific instruction from the Body Corporate.
- Assisting and advising the Board of Trustees on the maintenance of the Common Property.
- The collection / receipt of levies and all other income due to the Body Corporate as advised by the Trustees.
- Verification and payment from available funds of all accounts payable by the Body Corporate.
- Attending to the collection of arrears and existing credit control (being the work involved in the collection of arrear levies) up to the point of commencement of litigation. Thereafter an additional cost, pre-determined by the Managing Agent, per legal file, will be billed and payable by the Body Corporate and recoverable from the debtor.
Secretarial:
- Arranging to and the attending of the Annual General Meeting.
- Attending quarterly Trustees meeting by arrangement.
- Storing of the minute book & attendance registers. The register of Sectional Title bondholders, the sectional plans, rules & house rules (In the case of the Body Corporate having it in their possession will apply, failing which a negotiated rate at which the managing Agent can obtain these documents) as well as storing of the Insurance policies and all other permanent records of the Body Corporate.
- Assisting & advising the Board of Trustees on procedural matters such as general meetings, Special General Meetings, quorum, proxies, resolution, voting rights, etc.
- Attending the proxies, nomination, agenda’s, etc.
- Preparing & dispatching notices as required by the Act and the Schedule 1 Rules (Main Rules).
- Records shall be kept in accordance with generally accepted practice, including storage of information.
Accounting:
- The preparation of an annual estimate of income and expenditure for submission to the Board of Trustees and the Body Corporate for approval and determination of monthly levies.
- Period review of the estimate expenditure.
- Keeping full records of the administration, including proper books of account in terms of normal accounting principles.
- Arranging the annual audit with the auditor of the Body Corporate and on completion, submission of the audited statements to the Body Corporate.
Optional Services:
- Recruitment & Dismissal of staff,
- Negotiation of contracts and quotations,
- Attendance of meeting with attorneys,
- Drafting of circulars, newsletters, house rules, minutes etc.,
- Drafting of none standard reports,
- Budget analysis,
- Typing.