The Sectional Title and Home Owners Association Property Management are like siamese twins one cannot view the many intricate facets of the management of a sectional title complex linearly or in isolation. We at BCA believe that complete synergy between the various management components is the true key to the successful and effective management of a community complex or development.
We at BCA venture to be diligent at all times with the delivery of levy statements (which can be delivered or posted to owners). It is one of our core objectives to have levy statements properly delivered by the latest on the 20th of each month for the subsequent month. It is our erstwhile opinion that by ensuring owners receive levy statements timeously empowers not only your portfolio manager but also you as the trustees and your Body Corporate as a whole by allowing the effective facilitation of follow-up administration of outstanding debts and the commencement of legal processes if it is required.
These processes can and should proceed on the 1st of the month following the levy statement. By no later than the 10th of each month (dependant on weekends and public holidays) your portfolio manager should already be in a position to request the necessary authority to implement the debtors policy which can take several forms such as the cutting of electricity or the taking of vetted legal action. We consider the follow-up and management of debtors and the proper implementation of the debtor’s policy critical to every other facet of the running of an effective Body Corporate as management and development (whether commercially or socially) cannot truly be ascertained without the budgeted funding.
To further assist owners in making their payments on time we offer them various facilities to make payments directly into the Body Corporate’s own nominated current account or enter into a debit order arrangement. As suggested above we verily believe that a body corporate cannot be effectively managed by having its funds deposited into common or joint accounts. Firstly it is virtually impossible to ensure complete transparency and secondly it is extremely difficult to offer trustees timeous and meaningful management reports. We therefore offer you your own private bank account in which all income and expenses reflect.
As a chairperson you will receive a comprehensive and detailed financial report by the 15th of each and every month. This report will consist of the income statement (with budget comparisons), electricity recovery report, disbursement statement, cash flow analysis, bank statements as well as the bank reconciliation and levy roll. Should you require any work to be done on the common property our dedicated portfolio managers will facilitate either immediate repairs or quotations, depending on your instructions. Should you wish, your portfolio manager will attend your Trustee meetings to facilitate a vast communication.
To prevent scheduling conflicts we encourage Trustees to schedule meetings well in advance which will in turn assist owners should they wish to address specific issues with you. As a general rule we facilitate and arrange special as well as annual general meetings as instructed by you, the Trustees. Should you want to we are also well equipped to assist you should you wish to circulate quarterly newsletters to your members. In conclusion, we do offer a free of charge consulting service as it relates to practical and legal requirements of the Act. We believe that the excellent experience and focus that BCA offers as well as the integrated accounting systems we employ and uniquely enable us to provide you with the professional service you deserve.
- We attend to the opening and management of a nominated current and/or savings account with any registered Bank.
- We attend to the opening of a Trust Account in terms of section 32 of the Estate Agents Act, on behalf of the Body Corporate.
- We arrange the insurance for the buildings, the determination of replacement values with the insurance broker and the facilitation of all claims on behalf of the Body Corporate.
- We ensure that sectional title policies comply with the Act in terms of Fidelity Fund Cover.
- In terms of section 30 and 31 of Annexure 8 of the Sectional Titles Act we attend to the collection of contributions from the owners in accordance with the provisions and in the proportions set out in rule 31 (Should an owner fail to make a payment he can be held liable for the payment by the taking of a Court order judgment in favour of the Body Corporate).
- We attend to the formulation of a debtor’s policy and the collection of arrear levies and the processing of legal action (if required) on instruction from Trustees.
- We attend to the payment of and accounting for approved expenses including salaries, wages and standard payments.
- We attend to the completion and submission of statutory returns.
- We attend to the Issuing of insurance certificates and clearance certificates as requested by mortgagees and transferring attorneys.
- We ensure the enforcement of Body Corporate conduct rules; the drafting of warning letters and the imposing of relevant penalties in addition to assisting and facilitating any alternative dispute resolution or negotiation which may arise.
- In addition to assisting and preparation of the Agendas for Annual General Meetings and Special General Meetings we distribute these agendas together with their supporting documents. We also attend to proxies and nominations, advising on quorum requirements, resolutions and voting rights.
- We attend the Annual General Meeting, Trustee meetings and take the prescribed minutes of the meetings and later attend to the drafting and typing of the minutes and uploading the minutes onto the individual Body Corporate websites.
- We keep all the records i.e. minute books, attendance registers, sectional plans, rules, house rules, insurance policies and all other records of the Body Corporate.
- We assist with and prepare the annual budget, income and expenditure schedules and levy schedules for submission to the board of trustees and the Body Corporate for approval.
- We prepare the annual audit file for each member.
- We attend to the investment of surplus funds into savings accounts and/or call accounts to maximize interest earnings.
- We ensure full monthly financial reporting.
- We ensure that monthly expenditure is in line with the approved budget.
- BCA will enter into negotiations in consultation with the Trustees to appoint certified and approved insurance contractors pertaining to maintenance requirements of the Body Corporate.
- We assist Trustees in obtaining quotes from specialist approved insurance contractors for maintenance work to be carried out.
- We assist in the appointment of plumbers for burst geysers in addition to attending to the claim process as well as any other related Body Corporate claims.
- Insofar as project management is concerned we facilitate the following processes: Drafting of contracts
- Implementing of controlled mechanisms
- Issuing progress reports for each member.
- Obtaining expert assessments of each property.
- Issuing of compliance certificate(s) i.e. completion of work done in accordance with specifications.