Trustees and Scheme Executives in South Africa face a potentially difficult and time-consuming task whenever they are tasked with the management of a Sectional Title Scheme. The responsibilities of trustees are extensive, ranging from ensuring the organisation’s financial health and complying with applicable laws and regulations to resolving issues pertaining to maintenance and repair and presiding over meetings.
Challenges faced by Scheme Executives
The task of ensuring that the scheme complies with all applicable laws and regulations as well as maintaining its financial health is one of the most significant challenges that trustees must face. This can be a challenging endeavour, particularly for individuals who are not well-versed in the complexities that are involved in property management.
The collection of monthly levies and other charges from residents is yet another significant challenge that the Trustees need to overcome. It is important to make sure that payments are received on time in order to cover the scheme’s expenses; however, late payments and defaults can cause the scheme to be put under a significant amount of financial strain. In addition, trustees are responsible for resolving complaints and disputes brought forward by residents, which can be a task that is both time-consuming and stressful.
In addition to this, trustees are responsible for addressing concerns regarding maintenance and repairs. It is possible that ensuring that the property is well-maintained will be a challenging task, particularly when it comes to coordinating with contractors and managing budgets. In addition to this, trustees are responsible for ensuring that the property is adequately covered by insurance and that any claims made against the policy are processed in a prompt and organised fashion.
Last but not least, trustees are also accountable for running meetings and maintaining thorough financial records. This includes ensuring that all necessary documents are filed and submitted on time, as well as producing minutes of meetings. It is essential to maintain accurate records in order to provide transparency and ensure compliance with the requirements of any applicable laws.
Resources for Scheme Executives
It is essential for trustees to have a comprehensive knowledge of the responsibilities that fall on their shoulders as well as access to the appropriate resources and support in order for them to successfully manage their scheme. As a Property Management Company, Fitzanne Estates is here to help take the burden off your shoulders. Our team of experts has years of experience in the property management services field, and we’re dedicated to making sure that your property is well-maintained, financially stable, and in compliance with all relevant laws and regulations.
One of the key property management services offered by Fitzanne Estates is property administration. This includes everything from preparing annual budgets and managing insurance claims to overseeing maintenance and repairs.
- Preparing annual budgets: This involves forecasting income and expenses for the upcoming year and ensuring that the property has enough funds to meet its financial obligations.
- Managing insurance claims: Fitzanne Estates helps clients navigate the process of making an insurance claim and ensures that the claim is processed as quickly and efficiently as possible.
- Overseeing maintenance and repairs: Fitzanne Estates will arrange for regular inspections of the property and will coordinate any necessary maintenance or repairs with contractors.
Fitzanne Estates works closely with clients to ensure that properties are running smoothly and keeps them informed of any issues that arise.
Another important aspect of property management is collections, including the collection of monthly levies and other charges from residents, as well as handling late payments or defaults.
- Collecting monthly levies and other charges from residents: Fitzanne Estates uses a variety of methods to ensure that payments are received on time, including mail, email, and SMS.
- Handling late payments or defaults: Fitzanne Estates will follow up with residents who are behind on their payments and work to find a fair resolution for both the resident and the scheme.
Fitzanne Estates understands the stress and frustration that can come with dealing with these issues and handles everything on behalf of clients to ensure the schemes’ finances are in order.
Fitzanne Estates also provides accounting services, ensuring that financial reports and statements are accurate and up-to-date.
- Keeping accurate and up-to-date financial records: Fitzanne Estates maintains financial records that provide a clear picture of the scheme’s income and expenses.
- Providing regular financial reports: Fitzanne Estates will provide clients with regular financial reports, such as balance sheets and income statements, that give them insight into the scheme’s financial health.
These records give clients a clear picture of the scheme’s financial health and help them make informed decisions about how to manage their assets.
Fitzanne Estates also handles secretarial functions like filing and submitting necessary documents on time and conducting and reporting meetings.
- Filing and submitting necessary documents on time: Fitzanne Estates will ensure that all required documentation is filed and submitted to the relevant authorities in a timely manner.
- Conducting and reporting meetings: Fitzanne Estates will organise and run all necessary meetings and will produce minutes of the meeting, which are shared with all attendees.
At Fitzanne Estates, all these property management services are focused on providing clients with the support they need to effectively manage their scheme. From property administration to collections, accounting, and secretarial functions, the team at Fitzanne Estates is dedicated to helping clients make their scheme runs smoothly and maintain financial stability.
Here are three reasons why Scheme Executives should choose Fitzanne Estates for property management services.
Expertise: Fitzanne Estates has a team of professionals with years of experience in the property management services industry. They understand the ins and outs of the business and have the skills and knowledge needed to help Scheme Executives navigate the complexities of managing a Sectional Title Scheme.
Comprehensive services: Fitzanne Estates offers a wide range of property management services that cover all aspects of property management, from property administration and collections to accounting and secretarial functions. We ensure that all necessary tasks are taken care of, giving Scheme Executives peace of mind that their property is running smoothly.
Personalised approach: Fitzanne Estates understands that every scheme is unique and requires a tailored approach. We work closely with Scheme Executives to understand their specific needs and tailor our property management services to best meet those needs.
With Fitzanne Estates, Scheme Executives can rest assured that their scheme is in good hands and focus on other important matters. By choosing Fitzanne Estates, Scheme Executives can maximise their scheme’s potential and benefit from our expertise, comprehensive property management services, and personalised approach.
More about Fitzanne Estates
Fitzanne Estates (Pty) Ltd is a Property Management Company that can sufficiently administer your property investment to the benefit of the Landlord, the Body Corporate, and the NPC – Non-Profit Company. Services include Letting, Sectional Title Management, Full Title Management (NPC – Non-Profit Company) and Sales.
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