Open letter to South Africa’s students‚ universities and government‚ represented by Minister in the .
With the crime rate increasing every day in South Africa, many people are choosing to stay in safer places where they can pay for their security and protection as a collective.
This has given rise to the mushrooming of sectional cluster homes or complexes.
The growth of these complexes means more money in the bank accounts of property managers. There are various reasons for this, for example:
l Managing a complex or cluster home or sectional title property is more complicated than people think. It is more like managing a business.
l You need special skills and time for this task. The task of managing a complex can be daunting and at the same time is an ongoing process that needs commitment. It cannot be left in the hands of one or two individuals if it is to run effectively.
l The positions in the body corporate and the board of trustees are non-salaried positions. For this reason many unit owners become reluctant to join or work on these boards.
l Management problems arise from time to time, which leads to resignations by some members and more chaos is created.
l Complaints that might arise could sometimes match those you will face in your full-time job.
l As a result of the pressure that comes with the job, many would rather spend time with their families than work hard for nothing. Even those who, out of excitement, joined the board of trustees also quit when they realise how arduous the managing task can be.
l For the management of the complex to run smoothly, there must be enough people on the board of trustees. Not having enough people to manage the complex is the beginning of a problem. This is a business opportunity for property management businesses.
Because of its tedious nature, the complex management task requires someone whose training and job is to manage property. It requires someone who will dedicate his or her time to it.
What do property managers do?
Property managers get paid huge sums of money for doing the following: making monthly payments of wages and other invoices, billing and collecting service charges, provision of a periodic budget, preparation of annual financial statements, preparation of annual general meeting notices, debt collection and advising on insurance issues.
They also attend to daily enquiries from both lessees and residents, attend residents' meetings on request and help with insurance claims.
Property managers also deal with repairs and maintenance, advise on major contract work and the usage specialists and contractors.
What are the property managers' fees?
There are standard rates set by the National Association of Managing Agents (Nama). According to Nama, any structure that has less than 10 units pays a flat rate of R500 a month. For a structure that has more than 10 units, every unit is charged R50. Since different complexes usually have different needs or services, the management fee varies from one complex to another.
What qualification do you need to become a property manager?
You don't need any qualification to become a managing agent, but there are courses that you can attend. Some institutions of higher learning such as the University of Cape Town have such a course on distance learning. For convenience and reputation you need to be affiliated to Nama.