Sectional Title Services
De La Porte Property Group (DLP) is an industry leader in managing Commercial and Industrial Sectional Title and Property Owners’ Association Schemes (POA) in the greater Cape Town area.
While some property managers merely collect levies, we have the strategic understanding and the experience in what it takes to add value to your Sectional Title Scheme or Property Owners’ Association.
A good Property Manager needs to think and operate like an Asset Manager.
Ask yourself the following questions:
- Does your Managing Agent have experience in managing Commercial and Industrial schemes?
- Are they fully accredited with the EAAB (Estate Agency Affairs Board) and NAMA (National Asset Management Agency)?
- Do they have additional Fidelity Cover from PIMA (Professional Indemnity for Managing Agents) in addition to what EAAB offers?
- Does your Body Corporate have its own bank account or are your funds held in a ‘bucket’ trust account – a mixture of different body corporate funds?
- Does your Managing Agent ensure that you get the best interest on your reserve funds?
- Has the Managing Agent in charge of your scheme passed the University of Cape Town, Paddocks Sectional Title course?
- Are you getting detailed, monthly Financial Reports?
- Do you have a budget in place that takes future maintenance requirements into account?
- Is your Managing Agent interested in making your scheme more environmentally and energy efficient?
- Is your Managing Agent willing to use your preferred service providers and contractors?
If you have answered ‘No’ to any of the above questions, you need to re-look at who you are partnering with! De La Porte Property Group (DLP) successfully does all of the above.
We have been involved with Sectional Title property since 1998, all the while keeping up to date with the changes in the Sectional Title Act and its interpretation.
Our Property Management team is focused on providing the board of Trustees with strong financial governance, Sectional Title knowledge and procedures backed up with responsive, hands-on assistance.
At DLP we use Nicor, a top end property management software system that is used by some of the largest listed property funds in South Africa. This enables us to provide you with a high quality management and accounting function.
The Sectional Title Management services that we offer includes:
- Manage the collection of monthly levies.
- Verify the payment of all accounts payable by the Body from available funds.
- Prepare the annual estimate of income and expenditure to determine the monthly levies.
- Prepare the annual budgets.
- Review monthly income and expenditure vs actual income and expenditure.
- Preparation of income and expenditure accounts for submission to the Trustees.
- Manage the annual audit with the auditor of the Body Corporate.
- Complete and submit VAT returns.
- Pay salaries, wages, PAYE, UIF and Workmen’s Compensation.
- Collect arrear levies and institute legal action where necessary on instruction from the Trustees.
- Prepare monthly financial management reports for submission to the Trustees.
- Assisting and advising the Trustees on the maintenance of the property.
- Negotiate on behalf of the Trustees with professional persons to draw up specifications for maintenance work to be done by outside contractors.
- Obtain quotations for work as requested by the trustees.
Attend to instructions emanating from the minutes of the Trustees meetings and report to the Chairperson and the Trustees.
- Assist the Trustees in determining the replacement values of improvements for insurance purposes by arranging for valuations where required.
- Arrange for the insurance of the buildings and improvements.
- Take out Fidelity Guarantee Insurance on behalf of the Body Corporate.
- Handle all insurance claims on behalf of the Body Corporate.
- Assist and advise the Trustees on procedural matters such as general meetings, special general meetings, quorums, proxies, resolutions and voting rights.
- Arrange and attend the Annual General Meeting within 120 days of the financial year end.
- Arrange and attend, if so requested, Trustees and Special General Meetings
- Take minutes of the AGM and distribute them to all the members of the Body Corporate within 14 days.
- Type and distribute notices, agendas and financial reports for Trustees meetings.
- Take minutes of the Trustees meetings and distribute them to the Trustees within 7 days.
- Prepare and distribute notices and circulars.
Call us for further information. Click here for contact details.