the angor solution for body corporate 2015

ANGORPROPERTY SPECIALISTS

Effective property management...

... incomparable service delivery

Body Corporate and

Homeowners Association

Managing Agents


Index

2 Established in 1998

Fully Compliant with EAAB

Founding member of NAMA

R1 Million additional Fidelity Insurance Cover

Independent Compliance Committee

Independent Trust account for each Body Corporate

3 Registered Training Partner with CIMA

A dedicated Property Management Team

NAMA Certificate

4 Financial Management

Budget Preparations

Prepare financial statements and facilitate the audit process

Levy Statements

Monthly levy collection

5 Payment of Body Corporate creditors

Monthly financial account report

Compliance with legislation

Payroll

Record Keeping

6 Secretarial Services

Maintenance

7 Meter Readings

Insurance

Clearance Certificate

24 Hour call centre

Limitations of Duties of ANGOR

Admin Fee

8 EAAB Certificate

9 DMS - Debt Management Services

10 DMS Registration Certificate

11 Unique Custom Management Program

ANGOR Online

12 ANGOR Online for Owners

13 ANGOR Online for Trustees / Directors

14 ANGOR iPhone App

ANGOR Property Specialists

We Manage!

We Rent!

We Sell!Page 1 of 14Version 6.1


ANGOR Property Specialists

We Manage!

We Rent!

We Sell!

• Established in 1998, now managing in excess of 29 000 units

• Fully compliant with EAAB with up to date Fidelity Fund insurance in place.

• Founding Member of NAMA (National Association of Managing Agents of South Africa)

• R1 Million additional Fidelity Insurance Cover In addition to the required Fidelity Fund Certificate which we hold with the

Estate Agency Affairs Board over possible claims against losses to our Trust Fund, ANGOR is the only Managing Agent who offers an additional R1 Million insurance cover - a precaution we believe will add peace of mind to all our complexes.

• Independent Compliance CommitteeOn a quarterly basis, our auditors, assisted by independent trustees from some of our larger managed complexes, do a quarterly audit of trust fund accounts for all complexes managed by ANGOR. This Independent Compliance Committee certifies the compliance of all ANGOR trust fund accounts. A certificate is issued to each complex under our management.

• Independent Trust account for each Body Corporate – no communal trust account for all complexes - no cross funding between Bodies Corporate. › Every complex managed by ANGOR is allocated a separate bank trust

account for complete transparency. › This allows the body corporate immediate access to any unallocated

funds in the levy account, which under other circumstances would not be available for use until processed through the group trust account.

› It also provides peace of mind to our clients as this system guarantees the integrity of every complex account.

› Market linked interest rates.› Allows for separate Investment Accounts which are opened

specifically for each complex.› Accounts balanced Real Time using ABSA host-to-host.› Interest earned or paid on the balance of funds of the Complex, held in

the dedicated ANGOR Trust Account, shall accrue to the Complex on a monthly basis. Such interest shall be computed by reference to the actual interest rate applicable to the trust account.

Independent TrustAccount

Compliance Committee

Additional Fidelity Insurance Cover

Page 2 of 14


• Registered Training Partner with CIMA ANGOR is the only Property Management Company in South Africa that is an accredited CIMA International Training Partner. The Chartered Institute of Management Accountants (CIMA) is a worldwide professional body for management accountants. ANGOR is proud to offer our clients the services of some of the best young prospective management accountants in the business and for the role which we play in developing a new generation of committed, qualified property managers.

• A dedicated Property Management TeamIn the Managing Agent industry, it is traditional for each complex to be allocated to an individual “Property Manager/Portfolio Specialist” who oversees and controls the finances of the complex. At ANGOR, each complex is allocated to a Management Cell consisting of a Portfolio Specialist, a Property Specialist Assistant and a Financial Controller (CIMA Interns). Each Management Cell oversees a limited number of units, allowing them to provide a better client service function.

In our experience, a complex allocated to a Management Cell has the advantage, in that every member of the Cell is thoroughly acquainted with the complex and is available to assist in ensuring that queries or problems can be addressed immediately.

Our Portfolio Specialists are required to complete the Sectional Title Management Certificate through the University of Cape Town (Paddocks).

ANGOR Team

We Manage!

We Rent!

We Sell!Page 3 of 14

CIMA Training Partner


We Manage!

We Rent!

We Sell!

Financial Management

• Financial Management

• Budget preparations› Prepare for the consideration and approval of the Trustees of the

Complex, an annual budget that will include a budgeted income and expenditure projected balance sheet and forecasted cash flow statements.

› ANGOR will prepare a draft budget at the end of the financial year for discussion with and consideration by the Trustees to ultimately produce an annual budget for presentation and owner approval at the next AGM.

› The first draft of the audited financial statements for the previous year is considered as a baseline and ANGOR will assist in determining increases, allowing for special projects etc. The final budget, with Trustee approval, will be distributed with the AGM Notice.

• Prepare financial statements & facilitate audit process› ANGOR will prepare financial statements, together with the

necessary auditor’s schedule and will submit them to the external auditor by the 21st of the month following the year end.

• Levy statements› Prepare and dispatch statements, to each owner, on a monthly

basis, detailing all current transactions.› Statements are dispatched via post, email, fax or hand delivery

and are also available 24/7 on ANGOR Online.› The final cut-off date for dispatch of statements is the 25th of the

month.› ANGOR is responsible for the accuracy of the levy and subsequent

levy increases contained in the statement.› ANGOR is responsible for accuracy of charges supplied by

external service providers (electricity, water meter readings, etc) contained in the statement.

› Separate tenant statements reflecting electricity charges can be sent to tenants on request.

› ANGOR will manage and collect Special Levies as necessary.

• Monthly levy collection› Payments can be made by cheque, EFT, bank deposit or debit

order.

Page 4 of 14


We Manage!

We Rent!

We Sell!

Financial Management

• Payment of Body Corporate creditors› Pay charges, expenses and any other expenditure whatsoever

which may from time to time be payable by, or chargeable to the Complex.

› ANGOR will pay these accounts subject to receipt of invoices and statements, cash-flow permitting. Apart from recurring bills (utility, approved monthly expenses, etc) payments will be subject to approval by the Trustees.

• Monthly financial account report › Compile and distribute, to the Trustees on a monthly basis, a

management report which includes an income and expenditure statement (detailing actual versus budgeted figures), a balance sheet, levy roll, debtors age analysis, DMS reports and electricity exception reports.

› All the invoices paid during the month are scanned and sent with the report.

• Compliance with legislation› ANGOR shall make and sign applications to the appropriate

government department or the local authority for all or any licenses, permissions and consents required by any Act, regulation or by-law in connection with the management of the Complex.

• Payroll› ANGOR will register the Body Corporate for PAYE, UIF and

Workman’s Compensation etc., if the body corporate has employees which were appointed officially.

› Pay on behalf of the complex all employees’ salaries and wages, and where required, unemployment insurance fund (UIF), employees tax (PAYE) and other employee related costs.

› Payroll for the Body Corporate is processed on the VIP System and ANGOR will issue monthly pay slips and annual IRP5’s / IT3a’s.

th› The final cut-off date for processing of payroll is the fifteenth (15 ) of

each month.

• Record Keeping› ANGOR shall keep full and proper books of account and records

showing clearly all revenue, expenditure, transactions and proceedings relating to the Complex.

› ANGOR shall allow any member of the Complex to enter the premises of ANGOR at all reasonable times, for the purpose of inspecting the said books and records.

Page 5 of 14


We Manage!

We Rent!

We Sell!

Secretarial Services

Maintenance

• Secretarial Services

• Arrange, attend, minute and distribute minutes of the complex’s Annual General Meeting, Special General Meetings and Trustee Meetings;

• AGM7 The AGM date depends on the availability of the Trustees and the

finalisation of the audit. 7 ANGOR will obtain a date from the Trustees, send out invitations

(AGM Pack) and reminders, and will assist during the meeting by taking minutes etc;

7 The standard documents included in the AGM pack will be: › Cover page› Agenda for the AGM› Chairman’s Report for the previous year› Minutes of the previous AGM› Annual financial statements for the previous year› Estimated budget for the new year› PQ Schedule from Insurance Company

( PQ per unit as well as insured values for common property)› Proxy and nomination forms for new trustees› Complex specific documents

7 Keeping of attendance registers;• ANGOR will distribute minutes of meetings after obtaining Trustee

approval and will action all relevant tasks culminating from the meetings;

• Assist and advise the Trustees of the Complex on any applicable procedural matters pertaining to the running of the Complex. This would include procedures relating to resolutions, quorums, proxies and voting rights;

• Print and forward to members, and where applicable tenants, notices and circulars on behalf of the Trustees of the Complex;

• Comply with the Sectional Titles Act in respect of the update and retention of minute books, attendance registers and all other permanent records of the Complex.

• Maintenance• ANGOR will advise on maintenance and repairs of the common

property, including the recommendation of suitable contractors.• ANGOR will negotiate, on behalf of the Trustees of the Complex, with

professional persons, firms, or other organisations, for the drawing up of specifications for maintenance and repair contracts pertaining to the common property.

• ANGOR will arrange two quotations for common property repairs and on the approval of the Trustees, give the go-ahead for work to be done.

• Please note that ANGOR does not check the workmanship. Should there be a problem, i.e. contractors either not arriving at the complex or sub-standard workmanship, ANGOR is to be notified for follow up with the contractor.

• Where applicable, guarantees will be kept on file.

Page 6 of 14


We Manage!

We Rent!

We Sell!

• Meter Readings (Optional Extra)• ANGOR will arrange for all meter readings and the processing thereof

on a monthly basis.• ANGOR will ensure that all readings reflect correctly on the statement. • ANGOR can assist with obtaining Prepaid Meters on request.

• Insurance

• Arrange and report on replacement values of the common property of the Complex for insurance purposes, as and when required.

• ANGOR will maintain the insurance policy, will facilitate renewal of same and obtain quotations on instructions from the Trustees.

• ANGOR will review replacement values as quoted with trustees and will afford advice. The final decision on accepting a particular broker vests in the Trustees.

• Submit and follow through to completion any common property insurance claims on behalf of the Complex.› ANGOR will lodge the claim on behalf of the Body Corporate,

ANGOR will facilitate and advise the Body Corporate. The final outcome of any claim is not in the hands of ANGOR - claim settlements and timelines vest in the insurance broker.

• Clearance Certificates• ANGOR, when called upon to do so, will prepare and issue the

necessary clearance figures to Transferring Attorneys for settlement of levy accounts prior to or on registration of a unit in the name of a purchaser.

• Levies, by their very nature in terms of the Sectional Title Act are automatically guaranteed. You cannot sell until you get a levy clearance certificate.

• 24 Hour call centre to assist residents and owners with queries and maintenance issues.

• Limitation of Duties of ANGOR• ANGOR accepts and assumes no responsibility for Body Corporate

staff or contractors who perform work on the common property, as supervision vests with the Trustees of the Complex.

• ANGOR assumes no responsibility for any requests extended to the company, where minutes of the meetings of the trustees of the Complex have not been timeously forwarded.

• This will not apply to minutes that were taken by the ANGOR Portfolio Specialist.

• Admin fee (exclusive of VAT) • Includes stationery and all services provided by ANGOR.• Fee only excludes monthly bank charges, annual audit and tax return,

PAIA and optional meter readings. • Portfolio Managers attend annual general meetings, special general

meetings and trustee meetings as required at no additional cost.

Meter Readings

Insurance

Levy Clearance Certificates

24 Hour Call Centre

Page 7 of 14

We Manage!

We Rent!

We Sell!


EAAB Fidelity Fund Certificate

TestimonialWhen reviewing potential service providers, thorough investigations were made into all the references provided and they all proved to be “glowing”, in fact our newly appointed trustees have worked with the ANGOR team in the past and can vouch for their accurate attention to detail, client service orientated nature and superb professionalism.

George JoubertBrookfield Close

Page 8 of 14

dmsdebt management services

• Debt Management Services (DMS), a registered debt collecting company to collect outstanding levy contributions.

• DMS is a fully registered and compliant debt collecting agency.

• All unpaid levies are handed over to DMS, who follow the legal procedures to collect the outstanding monies.

• This is an optional service to ANGOR managed complexes and estates.

• The entire cost for this process is borne by the defaulting owner.

• Fees charged as per Debt Collectors Act 1998 (Act 114 of 1998).

• Trustees are required to sign a mandate, instructing DMS to take the necessary action on their behalf.

• The cost of such action is collected by ANGOR from the Body Corporate and paid over to DMS.

• The charges are then debited to the account of the defaulter to recover costs from the owner, (Management Rules 31 (5)), on behalf of the Body Corporate.

• When no response has been forthcoming after the above procedures have been followed, legal action should be taken. Trustees are required to authorise DMS to act as their lawful agent for the institution of all legal proceedings or inter alia related matters on behalf of the Body Corporate, and must authorize DMS to institute legal proceedings on behalf of the Body Corporate.

DMS

Page 9 of 14

dmsdebt management services

DMS

Page 10 of 14


We Manage!

We Rent!

We Sell!

• Unique Custom Management ProgramANGOR is a systems-driven company with the most technologically advanced programs specifically tailored and developed for the property industry. Every facet of our business is driven through fully automated, custom designed systems which have been implemented to ensure that the process runs without a hitch.

• ANGOR OnlineAs an owner in an ANGOR managed complex, the ANGOR Online system offers you the convenience of managing your property online, from anywhere, at any time. Not only can you access real-time statements on your levy account, update your contact details, contact your complex portfolio specialist in an emergency or request account and maintenance assistance, but you can also view essential complex information like minutes of meetings, your complex conduct rules and more. Our Online facility offers Trustees a vast mine of information. At their convenience and from anywhere in the world, Trustees are able to access all documents* pertaining to the management of the complex through our website: www.angor.co.za.

*where applicable

TestimonialANGOR Property Specialist, Lisa van Vuuren and her team have again provided the Trustees with invaluable assistance during the past financial year. As Chairman I have found Lisa to be extremely supportive and always willing to assist in resolving problems. Thank you Lisa for your generosity in sharing your expertise and wealth of knowledge in the management of Hillside View. Kavir Partab Chairman - Hillside View Body Corporate

Unique Systems

ANGOR Online

Page 11 of 14


We Manage!

We Rent!

We Sell!

• ANGOR Online for owners

• View a real time levy statement• Contact your Portfolio Specialist• Log an Account Query• Complete a Debit Order Form• Update your contact details• Change your ANGOR online password• Log a maintenance request (where applicable)

Body Corporate Section

• Notices & Minutes of Annual General Meetings

• Notices & Minutes of Special General Meetings (if applicable)

• Conduct Rules

• General Forms (if applicable)

• Insurance Policy Schedule

• Newsletters and owner bulletins

• Statement / owner letters

• Sectional Title Act & Prescribed Management Rules

ANGOR Online

Page 12 of 14


We Manage!

We Rent!

We Sell!

• ANGOR Online for Trustess

• ANGOR Invoice – All transactions with ANGOR

• ANGOR Certificate of Compliance

• Bank Statements – internet printout uploaded monthly

• Complex Budget

• Creditor Documents

• Financial Statements

• Monthly Management Pack (past and current)

› Income Statement › ANGOR Trust Account Statement

› Balance Sheet › Levy Roll

› Insurance Claims* › Debtor Analysis

› Creditors List › DMS Report* *if applicable

• PAIA Document

• PQ Schedule

• Site Layout Plan

• Service Provider Contracts

• Trustee Meeting Minutes

• Trustee Resolutions

Features available to Trustees

• Detailed Debtor Information

• Detailed transactions in Current Bank Account - updated daily at midnight

• Detailed transactions in Investment Account - updated daily at midnight

ANGOR Online

Page 13 of 14


We Manage!

We Rent!

We Sell!

• ANGOR iPhone AppAccess all information relevant to your complex without having to access a wi-fi connection, use your desktop PC or even your laptop - and all your information will be real-time!

Download the free ANGOR App to your iPhone from the App Store

There are 3 user account types:• Owner of 1 or more ANGOR managed units• Trustee of a complex or estate

• Property Investor with ANGOR managed rentals

Owner

Manage your unit and access unit specific information including:

• Real time levy statements

• Send a levy account query

• Log a maintenance request

• Contact your Portfolio Specialist

• Update your details

• Access complex specific documents including:

› Conduct rules

› Notices and minutes of annual general meetings

› Notices and minutes of special general meetings (where applicable)

Trustees

Access your body corporate information including:

• Financial Information (Budgets, Bank Statements, Supplier Invoices, Management Reports & more)

• Meeting notices and minutes

• Insurance policy schedule

• Rules and Legislation (Conduct Rules, Management Rules

and the Sectional Titles Act.)

• Sections and Layouts (PQ Schedule & Site Layout Plan

(when available))

Property investors

ANGOR managed rentals can be managed on an iPhone:

• View real-time balances on all your rental accounts

• Contact the Rental Accounts team or the Rental Agent

• View real time communication and rental notes

• View a Rent Roll (detailed financial information on all rental units)

ANGOR iPhone App

Page 14 of 14


TestimonialThank you, Sholeen Kasipersadh, so much for all you do for us at ME and for your total dedication. Much appreciate your help and assistance at all times and most of all Thank You for giving up your time for us in the evening to attend a meeting. I am very proud to have you represent our Estate. Linda Ehrlich Mayers Estate

• Contact DetailsANGOR Head Office: Lincoln House, Epsom Downs Office Park,

Sloane Street, Bryanston, Sandton

Branch: Blaauwklip Office Park, First Floor, Corner Strand & Webersvallei Streets,Stellenbosch, Cape Town

Contact Numbers: 0860 4 ANGOR (26467)087 35 ANGOR (26467)

Email Address: [email protected]

We Manage!

We Rent!

We Sell!

Body Corporate and

Homeowners Association

Managing Agents

TestimonialEver since ANGOR took over the managing of our complex it’s been an absolute pleasure to work with them. From a simple email to legal / building advice – ANGOR, you have a super team working for you as no job is too big or too small !!

I have yet to come across another team that delivers such high standards.

Blue Crane Nest Trustees