We Specialize in General Administration, Administration of Building Insurance and Administration of Electricity and Water Supply.
1. GENERAL ADMINISTRATION
- Management of Funds:
- Collecting of monthly levies.
- Debit orders and electronic transfer facilities are available for the convenience of owners and tenants.
- Strict control is continuously exercised in respect of the collection of monthly levies.
Our services include, inter alia:
- Taking Legal Action with regard to outstanding moneys, in collaboration with the Trustees / Directors.
- Interest is levied at current rates on all accounts outstanding for longer than 30 days.
- Disconnection of electricity supplies to non-payers in cases where we administer this service.
- Payment of monthly accounts and expenditure e.g.:
- Municipal Accounts.
- Salaries to Employees of the Body Corporate / Home Owners Association and the accompanying statutory levies e.g. unemployment insurance and levies in respect of Regional Service Councils. Pay sheets containing complete details of each employee’s remuneration and available leave are supplied to the caretaker / chairman. Employee’s salaries may be deposited in a banking account of their choice.
- Expenditure and accounts authorized by the Trustees / Directors.
- Any other expenditure after verification by the Trustees / Directors.
- Replenishing of the petty cash if applicable.
- A separate banking account in the name of the Body Corporate / Home Owners Association will be opened at a Financial Institution in collaboration with the Trustees / Directors and the account will be connected to the Martinique Internet Banking Facility.
- The handling of ad-hoc projects as instructed by the Trustees / Directors, at a remuneration mutually agreed upon.
· Financial Planning and Bookkeeping
o To plan annually in consultation with the Trustees / Directors and to prepare a budget in respect of anticipated income and expenditure, for submission to the Annual General Meeting.
o To report the following on a monthly basis:
o A non-audited statement comparing income and expenditure with the budget.
o A report on moneys in arrears
o A report on surplus funds invested / deposited every three months.
The reports mentioned may be adapted according to the wishes of the Trustees / Directors, within the limits permitted by the system.
- Keeping record of the accounts of the Body Corporate / Home Owners Association in accordance with generally accepted accounting practice and arranging for the auditing thereof by the auditors appointed by the Body Corporate / Home Owners Association at the Annual General Meeting.
- The latest and most technologically advanced format of Pastel Evolution has been acquired and adapted to service the needs of schemes. The system is supported by the manufacturer of the product.
· Secretarial Services
o Convene and attend the Annual General Meeting and arrange for the accompanying documents and reports, including:
o The preparation of proxies, nominations and the agenda for the Annual General Meeting.
o Audited financial statements in respect of the previous financial year.
o The budget for the new financial year.
o Taking minutes and delivering copies to the chairman within 30 days.
o We have the facilities and have successfully hosted a number of AGM’s via video conferencing there-by linking persons in different parts of the world to a meeting.
o Attending three meetings of Trustees / Directors during the year held quarterly of which one will be the budget meeting. This arrangement may be extended by special agreement.
o Taking minutes of the meetings of Trustees / Directors that are attended by the sectional title manager and supplying a copy thereof to the chairman within 14 days.
o Attend to all correspondence emanating from meetings as well as any other correspondence as instructed by the Trustees / Directors.
o The safekeeping of minutes, attendance registers, insurance policies and all other permanent documents relating to the Body Corporate / Home Owner Association, as prescribed by the Act.
· Clearance Certificates
o Provide Clearance Certificates on behalf of the Body Corporate/ Home Owner Association relating to conveyance of units / stands, against the settlement of all debts.
o Consultation in respect of all matters concerning Management is accepted as an integral part of our service and is at the disposal of Trustees / Directors and Owners. Our organisation has attained a high standard of knowledge in order to furnish the Trustees / Directors with guidelines and advice. Basic task lists are available to provide Trustees / Directors with guidelines and to assist them in the execution of their duties.
· Fidelity Fund
o As a registered Estate Agency, we are a member of the Fidelity Funds for Estate Agents, which indemnify you against misconduct by the Managing Agent.
2. ADMINISTRATION OF BUILDING INSURANCE
· The handling of the Building Insurance of the Body Corporate / Home Owners Association entails the following:
- Placing of Building Insurance
The amount for which the buildings should be insured is determined according to guidelines provided by bondholders and insurers and is submitted to the Trustees / Directors for approval. Quotations are then obtained on a brokerage basis for placing the insurance, with a view to obtain the best tariff and cover for the Body Corporate. S A S R I A insurance is simultaneously arranged.
- Payment of Insurance Premiums
Control is exercised over payment of premiums on time and over the renewal of the insurance.
- Handling of Claims
Should the insurance be placed and be handled by a Broker on our panel, all insurance claims will be handled on behalf of the owners. If any damage is suffered, such damage need merely be reported and claim forms completed. Our insurance division handles the claims in consultation with the insurers and their assessors.
3. ADMINISTRATION OF ELECTRICITY AND WATER SUPPLY
· Administration of Electricity Supply
o Meters are being read monthly on a date determined by the Managing Agent. Amounts due are calculated on the total electricity consumption per consumer as well as the tariff determined by the local authority for end users. Through regular inspections and the monthly reading of meters, the accuracy of the meters is controlled.
o Accounts for electricity consumption for the calculated amounts are provided monthly to end users. Where the owner lives in the Scheme he receives only one account and he makes only one payment to the Body Corporate.
o Where possible, answers to questions and guidelines for solving problems will be given.
o Should the Local Authority announce a tariff adjustment, the Managing Agent may adjust his / her tariffs accordingly.
o The end user is assessed in accordance with the prescribed end users tariff as laid down by the Local Authority and pays the same consumer tariff as would have been charged by the Local Authority.
· Administration of Water Supply
o Where individual water meters are installed, remuneration for the administration of water has not been included in the aforementioned administration fee. The administration of water entails the following:
o Water meters belong to the Body Corporate / Home Owners Association and the replacement of faulty meters is for the account of the Body Corporate / Home Owners Association.
o Meters are being read monthly on a date determined by the Managing Agent. Amounts due are calculated on the total water consumption per consumer as well as the tariff determined by the Local Authority for end users. Through regular inspections and the monthly reading of meters, the accuracy of the meters is controlled.
o Preparing and submitting monthly accounts to consumers.
o Where possible, answers to questions and guidelines for solving problems will be given.
o Should the Local Authority announce a tariff adjustment, the managing agent may adjust his / her tariffs accordingly.
o The end user is assessed in accordance with the prescribed end users tariff laid down by the Local Authority and pays the same consumer tariff as would have been charged by the Local Authority.
o The Body Corporate / Home Owners Association are responsible to point out the position of individual meters and to ensure that meter readers have unimpeded access to meters.
4. SPECIAL CONSIDERATIONS
- A few special points that can be taken into consideration when deciding upon appointing Martinique as Managing Agent and Administrator of Insurance, Electricity and Water Supply, are that the business have knowledgeable personnel and business experience since 1977. We are conversant with the practical application of the Sectional Titles Act, The Companies Act as well as the requirements of the Statutes and Articles of Association of most Section 21 Companies, bearing in mind the experience of more that 100 Residential and Commercial Complexes, Security Villages and Estates being managed by us amongst with some of the largest in Gauteng. Martinique as a local organisation is equipped par excellence to provide services far higher than the market average.
· Approach to Business
- For many of us, fixed property is the largest single asset in our possession and it is important to protect the value of the investment. Effective management of the Body Corporate / Home Owners Association is a specific requirement. We follow a modern approach by recognising every Body Corporate / Home Owners Association as a business entity and treating it as such. Every Body Corporate / Home Owners Association has its own set of books and banking accounts, (Cheque, Savings and, if necessary, a Deposit account and / or overdraft facilities). The Trustees / Directors receive complete reports and balances of the accounts together with the other basic reports. Interest in favour of the Body Corporate / Home Owners Association, is levied on all outstanding levy accounts.
- To save costs, we provide joint facilities like debit orders and electronic transfer facilities.
- Each Body Corporate / Home Owner Association has a Manager who attends to the interests of the Body Corporate / Home Owners Association and acts as liaison between Trustees / Directors and Owners.
- Managers attend Trustees / Directors Meetings regularly in order to acquire first hand knowledge in respect of the needs of the Body Corporate / Home Owners Association.
- Our monthly reports are designed to be user friendly and include an Income and Expenditure statement which compares the monthly and year to date income and expenditures with the budget. Trial balances and Ledger Accounts can also be supplied to the Chairman upon request.
- Communication and the distribution of information plays an important role in the management of any complex, which is why, documents are delivered to the Trustees / Directors on a continuous basis by full-time couriers
- E-mail and Internet facilities are already available and are regularly examined and extended. We are able to send accounts out via e-mail. This technology has various advantages for our clients in terms of delivery time and convenience.
· Credit Control
- The largest single problem, with which Bodies Corporate / Home Owners Associations are confronted with, is to effectively collect levies and to eliminate possible overdue amounts. For this reason we have a dedicated collection division handling overdue levies. Particularly strict and timeous action ensures that all overdue levies are collected, investigated and settled. In accordance with the Act, any additional expenses incurred in collecting overdue levies are for the account of the specific client and not for the Body Corporate / Home Owners Associations.
· Combining the Managing Function and Electricity Administration
o The implementation of handling the managing function and the electricity administration is not necessarily obvious. The system we follow is to submit a single account for both levies and electricity. The first advantage for the client is that he needs only pay one account. Secondly it has enormous advantages in terms of credit control and it gives the Managing Agent leverage in the collection of overdue levies.
· Employee Contracts
- Labour legislation and its implications are in a special field and play an important role in respect of complexes. We have obtained preferential tariffs from Labour Consultants for the provision, maintenance and application of employee contracts. Their services are available to all the Body Corporate’s / Home Owner Association’s managed by our Company.
· Employee Benefits
o Very few Bodies Corporate / Home Owners Associations are in a position to offer employee benefits to their full-time employees, although there is a need for these in many instances. We are presently negotiating with various insurance companies and will soon be able to offer basic life, retirement and funeral benefits to the employees of the Bodies Corporate / Home Owners Associations. We are also in the process of arranging a group medical scheme for our own personnel to whom employees in Bodies Corporate / Home Owners Associations may also subscribe