FAQs

A Managing Agent is an organization (or person) appointed by the members of a Body Corporate or Share Block Company, for the purpose of assisting with all aspects of the management and control of the building or complex.

What is a Managing Agent?

A Body Corporate is the legal entity of which each and every owner of a unit in a Sectional Title development is a member.

What is a Body Corporate?

A Sectional Title Building is a building or complex, developed in terms of the Sectional Title Act, in terms of which, each owner of a unit acquires title to a clearly identified portion of the building for his/her sole use and occupation. Ownership is registered in the Deeds Registry.

What is a Sectional Title Building?

A Share Block Development is a building or complex, developed in terms of the Share Blocks Control Act, in terms of which, individual shareholders acquire “blocks” of shares in the company. Ownership gives them the right to use and occupy a clearly identified portion of the building or complex.

What is a Share Block Development?

What are the 9 pieces of Legislation which directly affect Bodies Corporate/Share Block Companies?

The cost to the body corporate will depend entirely on the scope of the management agreement entered into between itself and Wakefields Property Management, which can range from a very basic service to a fully comprehensive menu of activities. Wakefields Property Management will gladly provide interested trustees of bodies corporate with written quotations, after discussing the particular needs of the body corporate.

What will it cost to engage the services of Wakefields Property Management?

As soon as the tenant has paid, the net property rental due to you can be electronically transferred to your Bank account without delay. Monthly accounts detailing all transactions conducted on your behalf are mailed before the end of each month.

When will I get the rents you collect on my behalf?

A good Managing Agent will:
- Be in a position to assist in resolving conflicts
- Keep abreast of the legislation which affects bodies corporate
- Be able to deal with third parties in a professional manner

Utilising the services of a Managing Agent:
- Ensures that proper and accurate records are kept
- Provides continuity with regard to the running of the body corporate's affairs

Managing the affairs of a body corporate is not unlike running a business and whilst most Trustees are keen to make a positive contribution to the successful running of their body corporate, they frequently have neither the time nor the required expertise to do so.

What are the advantages of utilising the services of a Managing Agent?

Yes. The Trustees are the elected representatives of the members of the body corporate and are ultimately responsible for the running of its affairs. Wakefields Property Management always works very closely with the trustees of its client bodies corporate and encourages the trustees to actively participate in the day-to-day activities of the body corporate.

Do the Trustees still have a role to play if a Managing Agent is appointed?

The Sectional Title Act does not compel a body corporate to employ a managing agent to handle its affairs although it does empower the Trustees and the Body Corporate to appoint a managing agent if they deem it advisable to do so.

Is it a legal requirement that a Sectional Title building makes use of the services of an outside Managing Agent?

The body corporate employs its own supervisor, cleaning staff, security personnel etc. Payment of monthly salaries is, however, effected through Wakefields Property Management’s payroll system and Wakefields Property Management is able to guide the body corporate in HR related matters and the drawing up of Employment Contracts.

Does Wakefields Property Management provide its own Cleaning and Security Personnel?

Wakefields Property Management has an experienced team of collection clerks who monitor the receipt of levies on an ongoing basis, make follow-up telephone calls and send out written reminders. In the event that legal action needs to be taken, they are competent to manage the handing over process (in consultation with the trustees) to a suitable firm of attorneys and to monitor the progress of the matter.

Can Wakefields Property Management guarantee that all levies will be collected?

Wakefields Property Management does have a panel of approved contractors of all types (plumbers, electricians, painters, general builders etc) to whom maintenance related activities are outsourced. Should the scope of the work warrant it, three quotations would be obtained. Larger contracts are put out to tender and in the event that complex maintenance issues need to be addressed Wakefields Property Management can recommend an appropriate professional consultant.

Does Wakefields Property Management have its own Maintenance Division?

The leasing of residential property is governed by the Rental Housing Act, which prescribes a number of matters ranging from what your Lease Agreement can and cannot stipulate to the handling of damage deposits and Tribunal Hearings should your tenant feel aggrieved over any aspect of his relationship with you as Landlord. Letting of residential property has become a highly complex operation and is best entrusted to a professional property management organisation.

Can I dictate the basis on which my property is to be let?

It is just not possible to do so, but use of the most sophisticated methods available to pre-check the creditworthiness of prospective tenants, both through on-line links to one of South Africa’s largest Credit Bureau and using ratings from the prospective tenant's Bankers, ensures that tenants introduced to your property are credit rated.

Do you guarantee your tenants?