BODY CORPORATE

Who partakes in the process?

• 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).