WeconnectU News

Rental Agents are probably the least appreciated individual’s in the Real Estate industry. They are taken for granted and are doing a job that very few people want to do. If we do not take action to correct this wrong, these Super Humans may become extinct.

Legislation like the Sectional Titles Schemes Management Act and the Community Schemes Ombud Service Act may be a positive step for community schemes in general, but few would deny the additional complexities that they have added to the property manager’s role.

Let’s face it: the world of Property Management is nothing like it used to be. New legislation has not only heaped a number of additional responsibilities onto Property Managers’ plates, it’s also seriously upped the stakes when it comes to staying on top of sectional title management compliance.

You might have heard the term “Tenant Procurement” which is the term used in the industry for all the activities required to find a tenant for a landlord. In this article I want to take a look at the 8 most important things to discuss with any new Landlord during the “Landlord Procurement” process.

Customers are only willing to pay a price for a product or service if it matches their perceived value of that item. This phenomenon is one of the biggest challenges that property managers face today, particularly when it comes to managing sectional title and HOA communities.

With a rapidly growing sectional title and HOA industry, it’s critical that you as a managing agent adapt and transform yourself from a basic secretarial service to being professional accounting and legal specialists.

On 7 October 2016, the new Sectional Titles Schemes Management Act of 2011 came into force, changing things drastically. As a result of this legislation, bodies corporate are now compelled to make provision for reserve funds on an ongoing basis. In terms of the new Act, bodies corporate should make provision for long term maintenance requirements of the scheme by means of a 10-year maintenance plan.