Expertise. Intuition. Ingenuity.
SECTIONAL TITLE ADMINISTRATION
Southern Sectional Title Management offers a comprehensive range of sectional title management and administration services to sectional title schemes.
As sectional title is our core business, you can be certain that your investment’s maintenance and growth is in our best interest.
Sectional title management requires an in-depth understanding of the property industry as well as the Sectional Title Act. At Southern Sectional Title Management we work closely with the Board of Trustees to ensure that the short, medium, and long term management and planning of the scheme is implemented professionally and optimally.
In short, we’ll make sure that things run smoothly.
Our property management service includes:
Assist the Trustees with the maintenance of the common property
Send out monthly levy statements to all owners
Collect levies and other charges due
Follow up on levies in arrears and proceed to legal action, where necessary
Prepare of monthly arrears report to the Trustees.
Assist the Trustees with all the property insurance requirements.
Manage the scheme’s bank account.
Arrange and attend the first General Meeting and subsequent Annual General Meetings
Take minutes at meetings and distribute to all the owners
Attend Trustee meetings when required, take minutes and distribute to all Trustees.
Store minute books, rules, insurance policies, sectional title plans, etc.
Attend to proxies, nominations and agendas of meetings
Prepare and distribute notices and circulars to all owners
Maintain statutory and permanent records.
Pay salaries and wages to all staff employed by Body Corporate
Pay all municipal accounts and other creditors or suppliers as instructed by Trustees
Prepare and submit monthly financial reports (balance sheet, levy roll, credit control report, investment account, bank statements) to the Trustees
Manage trust bank accounts on behalf of Body Corporate
Prepare annual estimate of income and expenditure for submission to the Board of Trustees and the Body Corporate for approval and determination of monthly levies.
Periodic review of the estimates of expenditure
Keep full records of the administration including proper books of accounting in terms of generally accepted accounting principles (GAAP)
Arrange annual audit with the auditor of the Body Corporate and on completion, submit audited statements to the members of the Body Corporate.
Arrange and submit requested quotes to trustees
Liaise with contractors to have work done
Inspect work done by contractors when requested by the Trustees
Assist trustees with maintenance issues relating to the common property
Manage insurance claims on behalf of the body corporate
Assist owners with insurance claims
Assist trustees with the annual renewal of insurance policies
Assist trustees with obtaining valuations of their schemes for the purpose of insurance replacement value
Assist the trustees with quotations and the implementation of insurance for replacement purposes
During our time as a professional managing agency, Southern Sectional Title Management has provided key strategies to a variety of property entities in order to assist their growth.
We provide solutions to key requirements, including:
Sectional Title Law
Tenant Mix Strategies
Operating Strategies – such as credit management challenges and letting plans
Whether you are new to the property sector or would like to realign your strategy with contemporary market conditions, our strategic processes will enable you to create, grow, and maintain your assets without the unnecessary risks.
COMMERCIAL PROPERTY MANAGEMENT
Southern Sectional Title Management offers a comprehensive commercial property budgetary and administrative solution to property portfolios with the aim of increasing the operational efficiency and return on investment.
We provide the following core services:
Timeous lease renegotiation
Ensure correct signing of property leases; capture to management system; file appropriately
Continual lease audits to ensure all leases are current, renegotiations are done in time and increases are effected on the prescribed dates
Ensure all turnover rentals are recovered annually where applicable and monitored during the year
Collect rent monthly via debit order
Send out monthly invoices
Collect utility charges where applicable in terms of the lease agreements
Hand over tenants to attorneys for non-payment of rental and utilities
Pay net rental (less management fee and other disbursements) to landlord at the end of each month.
Collect tenant deposits and keep in separate accounts on behalf of landlord
Pay municipal accounts, suppliers and creditors as approved by landlord
Prepare annual budget of income and expenditure
Prepare financial reports including rent roll, cash flow statement, list of arrears
Timeous lease renegotiation
Prepare and distribute notices and circulars
Maintain statutory and permanent records
Preparation of weekly and monthly wages and salaries and the payment thereof to employees
Attend to all maintenance issues and submit quotes to landlord for approval.
Negotiate and appoint approved contractors to perform services as required
Regular follow up meetings with appointed contractors to ensure a safe and quality service
Select reliable, skilled contractors for all required functions and negotiate rates for future maintenance work
Schedule regular maintenance of equipment such as air conditioning units, fire extinguishers, etc, with approved contractors
Project manage tenant installations when required
Advertise vacant space and future vacant space proactively
Utilise specialised, local broker firms in the respective areas: send them monthly vacancy schedules and coordinated meetings to promote vacant space
Keep vacant space clean and tidy for prospective tenants to view
Negotiating of installation allowances with prospective tenants within an approved budget.
Process monthly administration reports on all buildings under our management
Regular meetings with owners to discuss the reports and other matters
Coordinate annual audit for legal entity with appointed auditing firm.
Comprehensive application process for potential tenants.
Interviewing, obtaining, and checking of background and landlord references.
Inspection of bank statements and payment profile.
Credit search and ITC/Experian enquiries on potential tenants.
Determination of affordability on gross income, net income, and net surplus to assess suitability of potential tenant.
Approval is given by landlord of potential tenant.
Collection of first month’s rent and deposit before placement.
Preparation of lease agreement and all other documentation in accordance with relevant legislation.