ComProp provides comprehensive and expert management services to both commercial and residential community development schemes, taking responsibility for the essential, yet time consuming, duties that come with Body Corporate, Home and Lot Owners' Association management. We handle the day-to-day management issues, allowing owners to benefit from a hassle-free, well run investment.
The core management services provided by ComProp for community scheme developments are:
- Budgets: Preparation of annual and expenditure budgets, periodic review and determination of levies.
- Banking: Opening and managing bank accounts in the name of the scheme.
- Insurance: Arranging all insurance requirements and overseeing submission of claims.
- Repairs & Maintenance: Arranging for general repairs and maintenance, negotiating the best rates with professional firms and outside contractors as well as overseeing work done on site.
- Collection of all income due.
- Credit Control of all outstanding amounts, including reminder letters and final demands - up to instituting legal action against serious defaulters.
- Book-keeping that conforms to the International Financial Reporting Standards.
- Control of a monthly expenditure budget in keeping with the annual income/expenditure budget.
- Verification and timeous payment of all accounts.
- Preparation and submission of monthly financial reports to the Board of Trustees.
- Arranging the annual audit and submission of completed audited statements to the Trustees.
- Attending to all SARS issues, including VAT, Income Tax and other returns.
- Arranging and attendance at all meetings.
- Advise and assist Trustees on procedural matters including any amendments to the respective Acts and related statutory issues.
- Providing minutes of all meetings and maintaining minute books, attendance registers, etc.
- Attend to the drafting and distribution of notices and circulars to owners.
- Respond timeously to queries, suggestions and complaints.
- Arrange meeting venues, agendas, proxies, nominations etc.
- Attending to all correspondence.
- Pay salaries, wages, PAYE, UIF and Workman's Compensation contributions
- Assist the Trustees with service contracts, disciplinary codes and grievance procedures.
If requested, and at an additional cost, attend to contracting and supervision of external contractors such as cleaning and garden services required to adequately maintain the property.
SECTIONAL TITLE DEVELOPMENT CONSULTATION:
For Developers wanting to embark on commercial Sectional Title schemes we are able to offer our services and advise from architectural conception and sales to hand over and management.
ComProp offers advice and support on the many challenges that face developers including, Municipal by-laws and Sectional Title legal issues. This ultimately leads to the smooth and successful registration of transfers, thereby saving time and interest costs, and most importantly to satisfied purchasers.