We offer a professional and efficient property management service to community schemes owners. Clients can expect precise financial management along with an efficient, hands-on property management approach. Stonewood’s property management services include the following:
Administration
- Distribute monthly levy statements to owners.
- Collect monthly levies, electricity and other sundry charges.
- Draft and mail correspondence with monthly levy statements when required.
- Credit control of all levies until point of legal hand over.
- Open current and savings trust accounts in the name of the community scheme.
- Circulate conduct rules upon statutory amendments.
- Maintain all correspondence with owners and trustees
- Pay ad hoc invoices that have been authorised by trustees.
- Pay monthly contractual accounts.
- Pay rates (where applicable) and utility accounts.
Secretarial
- Arrange and attend the first general meeting and subsequent annual general meetings.
- Take minutes at meetings and distribute to all the owners.
- Attend trustee meetings when required, take minutes and distribute to all trustees.
- Store minute books, rules, insurance policies, sectional title plans, etc.
- Attend to proxies, nominations and agendas of meetings.
- Prepare and distribute notices and circulars to all owners.
- Maintain statutory and permanent records
Personnel and payroll management
- Payroll management of salaries and wages in conjunction with trustees and directors.
- Calculate and pay UIF and PAYE deductions.
- Attend to annual and bi-annual statutory submissions to SARS.
- Maintain staff records.
Financial management
- Keep full records of the administration including proper books of accounting.
- Cash management.
- Assist the trustees or directors to prepare the annual budget.
- Prepare annual book of accounts for review by trustees.
- Prepare annual financial statements for submission to auditors.
- Keep records of all monthly income collected and monies disbursed of.
- Prepare and submit monthly financial reports (balance sheet, levy roll, credit control report, investment account, bank statements) to the trustees or directors.
- Periodic review of monthly expenditure.
Management reporting
- Provide a detailed monthly income statement and budget variance report.
- Provide a schedule of levies in arrears.
- Provide a levy roll and cash flow statement indicating monthly income and expenditure.
- Reflect bank balance, surplus funds and bank reconciliations at the time of reporting.
Insurance
- Assist the trustees and directors to obtain quotes and to implement insurance values for replacement purposes.
- Manage common property insurance claims on behalf of the body corporate of HOA.
- Assist owners with insurance claims if related to common property causes.
- Assist trustees and directors with the annual renewal of insurance policies.
- Assist trustees or directors to obtain property valuations for the purpose of insurance replacement value.
Meetings
- Arrange venues; draft and dispatch invitations and other relevant documentation.
- Attend to proxies, nominations and agendas for general meetings.
- Attend meetings as per agreement.
- Prepare the minutes of the annual general meeting and the trustee meetings attended.
- Maintain and update minute books.
Advisory services
- Advise on amendments to the Sectional Title Schemes Management Act (STSMA).
- Assist and advise on procedural matters for general meetings, special general meetings, quorum requirements, resolutions and voting rights.
- Assist and advise on enforcement of rules adopted by the body corporate or homeowners’ association.
Maintenance
- Assist trustees with maintenance issues relating to the common property.
- Arrange and submit requested quotes to trustees.
- Liaise with contractors to have work done.
- Inspect work by contractors as and when requested by the trustees.
Statutory records and amendments
- Submit amended sectional title plans to the Community Schemes Ombud Service (CSOS) for certification.
- Keep and maintain a register of bondholders and owners in the scheme.
- Submit amended management rules and conduct rules to the Community Schemes Ombud Service CSOS for certification.
- Issue levy clearance certificates.
- Attend to change of directors. Submit any amendments to the records of the scheme to the Community Schemes Ombud Service (CSOS).
- Distribute all certified amendments to the members of the scheme.
Legal
- Stonewood make us of registered attorneys capable of managing any legal action required to collect outstanding levies or advise on the legal affairs of the scheme..
