Home Owners Association

The importance of an efficiently run Scheme can never be over-emphasized. A thorough knowledge is vital to ensure that the merits of community living and good neighbourliness are upheld. The correct maintenance of your property is critical to long term investment growth and marketability of your investment. Sound financial management and control of costs are essential elements in keeping the cost of your home affordable. With the above in mind we offer the following services:

• H.O.A Administration
• H.O.A Secretarial Function
• Accounting

 

H.O.A. Administration Includes

1. Operation through our trust account on behalf of the H.O.A Note: We are registered with the Property Practitioners Regulatory Authority and hold the relevant Fidelity Fund Certificate issued by the Board.
2. Preparation and distribution of monthly levy statements.
3. Collection of levies / income on behalf of H.O.A
4. Assist H.O.A in collecting arrears i.e. Reminder letter (levies due on 1st of each month) Letter of Demand (14 day letter) 7 Day Letter (with option to cut electricity) Legal Action
5. Attend to the payment of all authorised disbursements.
6. Arrange for reading of electricity/water meters if necessary.
7. Advising H.O.A. on all aspects of administration.
8. Advising H.O.A. on the enforcement of conduct and management rules.
9. Submission of insurance claims on behalf of H.O.A.
10. Attend the Annual General Meeting of the H.O.A.
11. Advise on maintenance of the common property.
12. Attend to payment of salaries, wages, PAYE, Unemployment Insurance Fund, Workman’s Compensation, Regional Services Council Levies and any other administrative procedure required from time to time.

 

H.O.A. Secretarial Functions

1. Arrange Annual General Meeting. Prepare and distribute all documentation for such meeting.
2. Attend quarterly Director meetings if required.
3. Prepare and distribute notices for meetings.
4. Advise Directors on all procedural matters relating to meetings, notices, special meetings, quorums, resolutions, voting, proxies etc.
5. Attend to record keeping of all permanent records such as attendance registers, minute books, conduct and management rules, insurance policies etc.
6. Prepare agendas and attend to all proxies, nominations and attendance registers.
7. Issue clearance certificates for change of registration.

 

Accounting Functions of H.O.A

1. Prepare an annual estimate of income and expenditure for H.O.A to coincide with Annual General Meeting.
2. Assist with the determination of proposed monthly levies.
3. Attend to bookkeeping functions.
4. Preparation of monthly unaudited levy rolls and Disbursement/Expenditure statements for submission to Directors.
5. Review of budget and actual income and expenditure with Directors.
6. Arrange annual audit with appointed auditor and submit audited statements to H.O.A

 

Fee Structure

For a comprehensive quotation and proposal contact Alexandra Cloete on 011 668-0100 or alexandra@statusmark.co.za