The parties are, You the owner and Trustees delegating your responsibility of management to us, JRL Property Management CC. as Manager.
The Body Corporate / Section 21 Co or H.O.A.'s assets becomes the subject of common interest when mandated to us by the Owners , Trustees with instruction to manage such property at the most effective manner.
JRL Property Management CC. accepts responsibility for such management to tend to it with care and due diligence whereby we aim to ensure that:
Assets are properly taken care of;
Needed repairs affected;
Optimal equity achieved;
Assets covered on Insurance and claims properly administered;
Rates and Taxes and other budgeted and authorized expenses paid;
Books of accounting properly held;
Adherence to all stipulations of the act;
Training of Trustees to become knowledgeable on the aspects of the act and management of the affairs of the Body Corporate; and
We have realised that in this process we will have to engage in a process of forward and backward integration with service providers, and once appointed will integrate an effective plan.
The Process
Once appointed an audit will be conducted on all present processes to ensure that you adhere to all aspects of the Act as pre-mentioned. This in particular will include:
Conduct Rules and adherence;
Minutes and procedures;
Replacement values and quota share allocations;
Repairs and maintenance;
Insurance, cover and claims validation;
Human Resource Procedural adherence (contracts, UIF, skills development levy etc);
Human Resource responsibility areas including job descriptions, performance appraisal and outcome measurement;
Assessment of TQM standard and preventative maintenance plans;
Auditors and appointments and their particular responsibility;
Domicilium Rules;
Interest Rates and Penalties;
Non permanent structures and their validity;
Parking on communal property; and
Debtors and Accounts with Attorneys.
In this process we will ensure that:
The property will be visited by JRL on a regular basis; and
Consultative improvement planning be undertaken
Banking Procedures
We believe that contrary to the norm of banking through a centralized trust account as allowed by the act, a separate banking account to be opened in the name of Your Body Corporate Section 21 Co. / H.O.A's. The advantages are:
Ease of reconciliation of transactions especially bank charges and levy payments; and
Audit procedural efficiency, ie, only your transactions reflected. Independent Auditors have already confirmed that this procedure simplifies their audit and ability to comply with GAAP rules (Generally Accepted Accounting Practice).