Sectional Title

The Market Leaders since 1933

Sectional Title is the core business of National Real Estate and has already since 1976 commenced with the management of sectional title schemes and proved ourselves over the past decades as leaders in the field of professional management and administration.

Our sectional title department is without doubt the leader in the market and is already through the years a household name in Bloemfontein. Currently National Real Estate manages the largest sectional title portfolio in the Free State and Northern Cape with approximately 8000 units in more than 300 schemes. We strive to make the management of your scheme as professional and transparent as possible and thus not only to ensure your investments’ value but to enhance it.

In this insecure sectional title environment, we challenge you to become part of efficient financial and administrative management where trustees become in the true sense of the word “directors of a company” and where owners show interest in their investment and where residents cohabit in peace and harmony.

Sectional Title Administration Includes

  1. Operation through our trust account on behalf of Body Corporate. Note: We are registered with the Estate Agents Board and hold the relevant Fidelity Fund Certificate issued by the Board.
  2. Preparation and distribution of monthly levy statements.
  3. Administration of levies / income on behalf of Body Corporate
  4. We are registered Debt Collectors and attend to the relevant arrears letter reminders etc.
  5. Submission of arrears letters and attorney liaison. i.e. Reminder letter (levies due on 1st of each month) Letter of Demand 7 Day Letter (with option to cut electricity) Legal Action
  6. Attend to the payment of all authorised disbursements.
  7. Arrange for reading of electricity meters if necessary.
  8. Advising Body Corporate on all aspects of sectional Titles Act.
  9. Advising the Body Corporate on the enforcement of conduct and management rules.
  10. Submission of documents for lodgement of amendments to rules at Deeds office.
  11. Assist in the determination of insurance values and arrange valuations if necessary.
  12. Arrange adequate insurance for building and improvements as and when required.
  13. Submit insurance claims on behalf of Body Corporate.
  14. Attend the Annual General Meeting of the Body Corporate.
  15. Advise on maintenance of the common property. Attend to payment of salaries, wages, PAYE, unemployment. Insurance fund, workman’s compensation.

Our Functions:

Management

The department comprises of the services of professional managers trained in sectional title 
management. Hereby personal attention to trustees and continuity is ensured with interaction with trustee members. Since there is more than one portfolio manager, there is at all times a manager available to step in should a manager be the absent.

Each portfolio manager obtained an accredited qualification in Sectional Title Management, issued by the University of Cape Town.

Meetings

Your meeting requirement’s will be met with effective communication to owners, proper facility to hold meetings in and the security that you are save after hours. Managers will assist in Trustee / Directors meetings, Annual General Meetings and Special meetings.

Secretarial

The compilation and send out of general circulars upon request of the board of trustees. Arrange the compilation and distribution of information to owners (by instruction of 
the Trustees) and attend to enquiries, proposals and complaints and normal correspondence 
of the body corporate.

The compilation and distribution of individual correspondence and letters to owners 
with regards to warnings, notices or directives, as requested by the board of trustees.

Type of written minutes or directives as provided by the board of trustees.

The provision of various examples of standard / specific rules of the body corporate.

Maintain all statutory information which includes attendance register, minutes book, 
register of owners, sectional title plans, rules, insurance policies and all other records 
pertaining to the body corporate.

  1. Financial Management

The arithmetical bookkeeping system that is in use by our department, is detailed and comprehensive and facilitates the recording of scheme income and expenditure.

Budgets are compiled two months before year end by a qualified accountant. Previous budget is compared to actual expense and a calculated budget is drafted. This is sent to Trustees for scrutiny. Changes are made and the new budget will be implemented on the first month of financial year.

Trustees will receive on a yearly basis a long term projected budget that will ensure all financial goals are provided for.

Trust Account - Investec and the Nedbank Corporate Saver

Legislation requires that any person / institution that recover levies on behalf of a body corporate make use of a trust account wherein the funds are initially deposited. Herewith the body corporate funds are protected and regulated. National Real Estate currently makes use of a global Standard Bank trust account for this purpose and all levies are initially deposited herein.

All surplus funds are placed in a separate Nedbank Corporate savings or Investec account and the account is in the name of the body corporate. Because of National Real Estate’s great bargaining power, our sectional title department disposes of an internal Nedcor Corporate Saver terminal where bank statements on a Nedcor letterhead, cheques and deposits can be executed immediately. The body corporate does not pay any bank costs in this regard (excluding the Government levies of 20c for each debit transaction). This is a normal savings account and monies are readily available. The interest rate that is earned is above average of any other banking institutions with a similar account.

We can also on demand of the trustees invest surplus funds at higher interest rates account depending on the size of the investment.

  1. Filing system and Record keeping

Our modern filing system not only saves space but ensures that all documentation with regard to sectional title schemes are neatly and safely stored and is immediately 
obtainable. The filing system ensures the document received by the auditor yearly is categorized and neat. Therefore, saving the complex money on the yearly audit.

Furthermore, all documentation is available on our website www.nationalre.co.za

Trustees will have access to:

  • Income via our detailed Levy Roll reporting all opening balances, monthly amount raised and income received.
  • Owners statement that shows all expenses
  • Detailed Expense Summary
  • Copies of all expense invoices
  • Monthly Municipal accounts
  • Actual to Budget
  • Detailed long term maintenance plan
  • Insurance Wording and schedules
  • History of audited financial statements
  • Sectional Title Plans
  • Rules
  • Minutes of all meetings
  • Letters sent to all owners and tenants

All this information is available 24/7 and can be perused in the convenience of your home.

  1. Property Maintenance Team

It is with pleasure that we introduce our customers to the maintenance department. The concept is a first in South Africa and we have created this section to ensure the maintenance and upkeep of our client's properties are effectively managed. All maintenance is centralized to this section where the full definition of the maintenance is loaded onto the database. The client and the appointed contractor will be notified of the repair and therefore has clear reference that the problem must be addressed speedily. The client also receives full information about the contractor who will do the repair. NRE also does inspection of the quality of the contractor's work.

 

Maintenance team

With 10 caretakers allocated to specific areas in the city, we are capable of effective problem identification at the buildings and units. In most cases, problems are addressed at the complex before the owner even knowing. The team also consist of 3 field coordinators who ensure the maintenance and reporting are effectively done.

Services

Services consist of the following:

  1. 24/7 after hours’ emergency number to manage emergencies and defects.
  2. Full flexion caretaker services

a. Take general workers' supervision burden from the trustees and owners.
b. Full documentation of the condition of the buildings and keeping of a registry of assets.
c. Ensure speedy action for short-term maintenance.
d. Furthermore the caretaker will also manage larger maintenance projects.
e. Inspections of work performed by contractors before payment is made.
f. Purchasing and delivery of day-to-day items needed by the complex.
g. Detailed monthly report of defects and repair to the Trustees.

       3. Reading of water and electricity meters of Bodies Corporate as well as the reading of municipal meters to ensure correct payment is made to the municipality.
       4. Inspection of rental units and thorough photo report for owners on the condition of the unit in question.
       5. Design and installation of all billboards on the premises.
 

  1. Vision and Mission