our comprehensive property administration and management services include:
Intersect concentrates on the efficient collection of monthly levies with a particular focus on minimizing arrears, to ensure the financial health of the scheme.
We attend to the payment of accounts, salaries, levies and taxes, and keep up to date with the various local government charges, rebates. etc. that impact on a scheme's finances.
We ensure that the scheme is properly insured with reputable brokers, attend to common property insurance claims, and arrange insurance replacement valuations.
Using our systems, Intersect provides a high level of accurate financial reporting, produces monthly and annual financial statements, and prepares annual budgets with estimates of both income and expenditure and monitors the progress of these throughout the year.
Intersect operates trust accounts in line with the Estate Agency Affairs Act and provides fidelity cover to its clients through its annual registration with the Estate Agency Affairs Board.
The Intersect team assists the Trustees with the repairs and maintenance of the common property by appointing reliable contractors to undertake all works.
Works orders are issued and tracked for all repairs and maintenance items that we assist with.
Common property insurance claims are also dealt with by our team.
We maintain a register of competent contractors and conduct random, annual, audits ito occupation health and safety and contractors' all risk liability insurance.
All minute books, accounting records and administration files are kept in our fire resistant strong-room for 1 year, and then archived, using a third party service provider, for a further 5 years thereafter.
All digital or 'soft-copy' files are stored on cloud based servers and backed up regularly.
The requirements of the various applicable statutes, such as the Sectional Titles Schemes Management Act, the Sectional Titles Act, the Community Schemes Ombud Services Act and the Estate Agency Affairs Board, as well as other good governance disciplines, are adhered to.
We issue monthly invoices to all owners, by electronic mail wherever possible, allowing sufficient time before the 1st of the following month, to ensure prompt payment.
We strongly advocate the debit order process and continuously strive to improve the number of owners paying levies by means of a debit order mandate.
Should an owner default on their payment a rigid process is initiated and implemented in terms of prevailing acts from time to time, such as the Debt Collectors Act and the National Credit Act.
Ultimately accounts that are not settled, despite our efforts, are handed over to collection attorneys for further action and conclusion within a 60 day period.
Interest on overdue accounts is charged in terms of a Trustees’ resolution, made from time to time.
Payment of invoices:
As we operate a trust account, we employ very strict policies and procedures when it comes to managing our clients' funds.
No money, with the exception of recurring or routine invoices such as utilities, security, SLA's and or maintenance contracts, is paid out of the trust account unless the client has authorised same.
All service providers have to go through an initial process of registering their verified details with us so as to ensure that monies are paid to the correct parties.
Thereafter all payments, released from our trust account, is checked by a manager (for 1st release) and a director (for 2nd release).
We attend trustee and general meetings, as contractually agreed, and record the meetings and issue the minutes in respect thereof.
We assist the Chairperson with good governance at the meetings and prepare all agendas, notices and supporting documents.
A payroll service for our clients' employees is provided.
We ensure that all statutory returns and obligations, such as UIF, PAYE and COID are complied with and up to date.
Limited human resources advice and assistance is also offered, however more complex labour related issues would be outsourced to a preferred service provider.
the executive managing agent:
Essentially the EMA assumes the role and responsibilities of Trustees as provided for in the Act, and reports to all the members of a scheme, on a quarterly basis, in terms thereof.
Whilst this does not negate the requirement for trustees to be elected, an EMA may be the answer to those schemes where trustees are either in short supply, or, in particular, in schemes such as retail, commercial or industrial sectional title, where the trustees’ time is taken up by running their own businesses, usually within the scheme itself.
The appointment of an EMA will significantly reduce the burden on the trustees.
In a nutshell, the EMA must provide a professional level of skill and care, be held in a fiduciary relationship to the body corporate, be liable for any loss suffered by the body corporate as a result of not applying such skill and care and report to the members, at least once a quarter on, inter alia:
- Proposed repairs and maintenance ito the common property;
- Matters relevant to the condition of the common property;
- Balance of each of the administrative and reserve funds;
- Income and expenses of the body corporate;
- A description of the date and nature of all decisions made by it
An EMA must be appointed in terms of a management agreement.
Implementing sectional title for developers:
Developers have very particular needs with regards to setting up sectional title schemes.
Intersect has a great deal of experience in this area, and is well-positioned to provide the support and expertise essential to the developer in the run up to the launch.
Developers can have total confidence in our team to manage the sectional title details while they focus their energy on the marketing and construction of the units.