Accounting Duties

Buildings are managed by a Portfolio Business Unit, which comprises of:

Where a client has requested the Company to oversee the maintenance aspect of their building, a Building Inspector is assigned to the building to manage such matters in co-operation with the Trustees of the Body Corporate.

Collecting monthly levy contributions from members of the body corporate and exercising financial control in that regard (including handing over debtors to attorneys for collection).

Providing a full bookkeeping service, including the payment of expenses incurred in the administration of the building. Monthly statements of receipts and expenditure are provided to the trustees/directors.

Preparing the annual levy budget.  

Undertaking general correspondence on behalf of the trustees/directors and attending to queries and complaints.

Arranging insurance, insurance valuations and processing claims.

Maintaining statutory records such as minute books, share registers, rules etc.

Drafting and dispatching the notices of trustees meetings, the Annual General Meeting and any other meetings and attending the Annual General Meeting.

Preparing and circulating the minutes of meetings attended by a Wakefield’s representative and typing and circulating the minutes of those meetings not attended by a Wakefield's representative.

Issuing levy clearance certificates.

Where building maintenance is included in the management contract, arranging repairs and maintenance of the common property and engaging the services of professional firms, when necessary.

Engaging and dismissing employees, on the instructions of the client, including the handling of disciplinary hearings.

Arranging payment of wages for employees and complying with statutory payments such as PAYE, UIF, Workmans Compensation, etc.

Assisting in the enforcement of Rules, when so required by the trustees/directors.

We believe that information should be readily available to our clients to ensure transparency and to assist in making informed decisions. By partnering with Wakefields as your managing agent, you will have access to our online portal, which operates in real time, is accessible from any smart device and is available 24/7.

Wakefields Property Management manages over 730 Sectional Title and Share Block developments, many of which have been managed by the company over a long period of time. Each client has access to a dedicated Portfolio Business Unit ensuring a personal service. The unit’s activities is determined by mutual agreement, which typically includes Accounting, Secretarial and Administrative duties.