Welcome to Smart Property Group

OVERVIEW

SMART manages various schemes including Sectional Title, Homeowners Association and Lifestyle Estates requires dedicated and specialized skills to effectively manage and maintain. SMART has extensive experience in this field and has successfully assisted numerous complexes with proper administration and controls in terms of required legislation and is dynamic enough to cater for your unique requirement. Our implementation of stringent management ensures effective recovery from financial predicaments.

Our Management style encompasses an all in one approach, which benefits all residence within the scheme including owners, residents, tenants, landlords, and trustees and directors. Our unique approach to tenant management allows better control over tenants and provides various advantaged to owners and landlords.

Independent Trust account for each Body Corporate

No communal trust account for all complexes - No cross funding between Body Corporates.
Every complex managed by SMART is allocated a separate bank trust account for complete transparency.
This allows the body corporate immediate access to any unallocated funds in the levy account.
It also provides peace of mind to our clients as this system guarantees the integrity of every complex account.
Allows for separate Investment Accounts which are opened specifically for each complex.

A dedicated Property Management Team

Through our dedicated and qualified portfolio managers we are able to offer exceptional service required for the successful management of your complex. Our services include secretarial and accounting functions, well developed computer systems, as well as additional complimentary services to ensure extraordinary benefit to residents, owners and trustees and directors.

SMART SERVICES

Budget Preparations

Prepare for the consideration and approval of the Trustees of the Complex, an annual budget that will include a budgeted income and expenditure projected balance sheet and forecasted cash flow statements.
SMART will prepare a draft budget at the end of the financial year for discussion with and consideration by the Trustees to ultimately produce an annual budget for presentation and owner approval at the next AGM.
The first draft of the audited financial statements for the previous year is considered as a baseline and SMART will assist in determining increases, allowing for special projects etc. The final budget, with Trustee approval, will be distributed with the AGM Notice.

Secretarial Services

Organize AGM and SGM, notice to members, proxy management.
Take minutes at AGM and the distribution thereof to the owners.
Take minutes at trustees' meetings and the distribution thereof to the owners.
The AGM date depends on the availability of the Trustees and the finalization of the audit.
SMART will obtain a date from the Trustees, send out invitations (AGM Pack) and reminders, and will assist during the meeting by taking minutes etc.
The standard documents included in the AGM pack will be:

Cover page
Agenda for the AGM
Chairman’s Report for the previous year
Minutes of the previous AGM
Annual financial statements for the previous year
Estimated budget for the new year
PQ Schedule from Insurance Company
(PQ per unit as well as insured values for common property)
Proxy and nomination forms for new trustees
Complex specific documents

Keeping of attendance registers.
Distribute minutes of meetings after obtaining Trustee approval and will action all relevant tasks culminating from the meetings.
Assist and advise the Trustees of the Complex on any applicable procedural matters pertaining to the running of the Complex. This would include procedures relating to resolutions, quorums, proxies and voting rights
Comply with the Sectional Titles Act in respect of the update and retention of minute books, attendance registers and all other permanent records of the Complex.

Accounting

Keep detailed accounting records of the Complex.
Produce monthly financial and management accounts, comparing actual spend to budget and prior years.
Compilation of year-end audit file, arrange for audit of Annual Financial Status and assist in all queries raised by the auditors.
Prepare and dispatch statements, to each owner, monthly, detailing all current transactions.
Charge levy accounts with charges such as fines, sales to members and cost recoveries (variable invoicing).
Interest charged on overdue accounts as per policies.
Hand over errant debtors, approved by trustees, to attorneys for collection.
Statements are dispatched via email or hand delivery.
The final cut-off date for dispatch of statements is the 25th of the month.
Manage and collect Special Levies as necessary.

Storage of documents and records

Accounts Receivable/Member Accounts.
Keep accurate debtor’s records (Register of members).
Collect and record payments received.
Produce a monthly age analysis for trustees.
Handle all debtor queries.
Allow debit orders from members.

Banking

Payment of all creditors.
Investment of excess funds in money market or similar no risk accounts.
Monthly bank reconciliations of all bank accounts.
Maximum of 48-hour turnaround of payment requests.
Petty Cash management and Banking as per the financial duty of the Management Agent.

Salaries and wages

Management of the complex payroll.
Payment of all wages and salaries.
Completion of returns and monthly payment of PAYE and UIF.
Issuing of IRP5 and other tax certificates.
Reconciliation of PAYE at tax year end.
Keeping of leave provisions as per leave records.

Payments

No cash handling, all payments and or receipts are via cheque or electronic payment.
Pay these accounts subject to receipt of invoices and statements, cash-flow permitting. Apart from recurring bills (utility, approved monthly expenses, etc) payments will be subject to approval by the Trustees.

Maintenance

SMART will advise on maintenance and repairs of the common property, including the recommendation of suitable contractors.
SMART will negotiate, on behalf of the Trustees of the Complex, with professional persons, firms, or other organizations, for the drawing up of specifications for maintenance and repair contracts pertaining to the common property.
SMART will arrange one quotation for work under R 4000, three quotations for above R 4000. Common property repairs and on the approval of the Trustees, give the go-ahead for work to be done.
Please note that SMART does not check the workmanship. Should there be a problem, i.e. contractors either not arriving at the complex or sub-standard workmanship, SMART is to be notified for follow up with the contractor.
Where applicable, guarantees will be kept on file.

Insurance

Arrange and report on replacement values of the common property of the Complex for insurance purposes, as and when required.
SMART will maintain the insurance policy, will facilitate renewal of same and obtain quotations on instructions from the Trustees.
SMART will review replacement values as quoted with trustees and will afford advice. The final decision on accepting a particular broker vests in the Trustees.
Submit and follow through to completion any common property insurance claims on behalf of the Complex.
SMART will lodge the claim on behalf of the Body Corporate, SMART will facilitate and advise the Body Corporate. The final outcome of any claim is not in the hands of SMART claim settlements and timelines in the insurance broker.

Meter Readings

SMART will arrange for all meter readings and the processing thereof on a monthly basis.
SMART will ensure that all readings reflect correctly on the statement.
SMART can assist with obtaining Prepaid Meters on request.

Clearance Certificates

SMART, when called upon to do so, will prepare and issue the necessary clearance figures to Transferring Attorneys for settlement of levy accounts prior to or on registration of a unit in the name of a purchaser.
Levies, by their very nature in terms of the Sectional Title Act are automatically guaranteed. You cannot sell until you get a levy clearance certificate.

Debt Management Services

A registered debt collecting company to collect outstanding levy contributions.
A fully registered and compliant debt collecting agency.
All unpaid levies are handed over to DMS, who follow the legal procedures to collect the outstanding monies.
This is an optional service to SMART managed complexes and estates.
The entire cost for this process is borne by the defaulting owner.
Fees charged as per Debt Collectors Act 1998 (Act 114 of 1998).
Trustees are required to sign a mandate, instructing DMS to take the necessary action on their behalf.
The cost of such action is collected by SMART from the Body Corporate and paid over to DMS.
The charges are then debited to the account of the defaulter to recover costs from the owner, (Management Rules 31 (5)), on behalf of the Body Corporate.
When no response has been forthcoming after the above procedures have been followed, legal action should be taken. Trustees are required to authorize DMS to act as their lawful agent for the institution of all legal proceedings or inter alia related matters on behalf of the Body Corporate, and must authorize DMS to institute legal proceedings on behalf of the Body Corporate.

Body Corporate Section

Notices & Minutes of Annual General Meetings
Notices & Minutes of Special General Meetings (if applicable)
Conduct Rules
General Forms (if applicable)
Insurance Policy Schedule
Newsletters and owner bulletins
Statement / owner letters
Sectional Title Act & Prescribed Management Rules

Trustees Section

Bank Statements – internet printout uploaded monthly
Complex Budget
Creditor Documents
Financial Statements
Monthly Financial Pack (past and current)
Income Statement
Balance Sheet
Levy Roll
Insurance Claims
Debtor Analysis
Creditors List
DMS Report* *if applicable
PQ Schedule
Site Layout Plan
Service Provider Contracts
Trustee Meeting Minutes
Trustee Resolutions