Sectional Title

The importance of an efficiently run Sectional Title Scheme can never be over emphasised. The legalities of the Sectional Title Act 95 of 1986 are complex, yet 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:

• Sectional Title Administration
• Secretarial Function for Body Corporates
• Accounting

Sectional Title Administration Includes

1. Operation through our trust account on behalf of Body Corporate. 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. Administration of levies / income on behalf of Body Corporate
4. We are registered Debt Collectors and attend to the relevant arrears letter reminders etc.
5. Submission of arrears letters and attorney liaison. i.e. Reminder letter (levies due on 1st of each month) Letter of Demand 7 Day Letter (with option to cut electricity) Legal Action
6. Attend to the payment of all authorised disbursements.
7. Arrange for reading of electricity meters if necessary.
8. Advising Body Corporate on all aspects of sectional Titles Act.
9. Advising the Body Corporate on the enforcement of conduct and management rules.
10. Submission of documents for lodgment of amendments to rules at Deeds office.
11. Assist in the determination of insurance values and arrange valuations if necessary.
12. Arrange adequate insurance for building and improvements as and when required.
13. Submit insurance claims on behalf of Body Corporate.
14. Attend the Annual General Meeting of the Body Corporate.
15. Advise on maintenance of the common property. Attend to payment of salaries, wages, PAYE, unemployment. Insurance fund, workman’s compensation.

Secretarial Functions of Body Corporate

1. Arrange Annual General Meeting. Prepare and distribute all documentation for such meeting.
2. Attend quarterly trustee meetings if required.
3. Prepare and distribute notices for meeting in accordance with the Act.
4. Advise trustees and Body Corporate on all aspects of Sectional Titles Act and 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 at
6. endance registers, minute books, register of Sectional Bond holders, sectional plans, conduct and management rules, insurance policies etc.
7. Prepare agendas and attend to all proxies, nominations and attendance registers.
8. Issue clearance certificates for change of ownership.

Accounting Functions of Body Corporate

1. Prepare an annual estimate of income and expenditure for Body Corporate to coincide with Annual General Meeting.
2. Assist with the determination of proposed monthly levies.
3. Attend to the bookkeeping functions.
4. Preparation of monthly unaudited levy roll, disbursements statement and summary of expenses.
5. Arrange annual audit with appointed auditor and submit audited statements to Body Corporate.

Mission

Our commitment to service, together with experience, enables us to offer a full Property Management function to Sectional Title Schemes. We believe we are well qualified to provide professional advice and service to you.

Fee Structure

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