PROPERTY MANAGEMENT
It all starts with asking the right questions when you meet with the potential full-service property management company or Managing Agent . Here are five important questions to bear in mind during these meetings :
CAN I SEE YOUR 2022 FIDELITY FUND CERTIFICATE ?
Selecting a full-service property management company is a very important consideration for Bodies Corporate and Scheme Executives alike . To a certain extent , it is a subjective choice ; you have to get along with the people at the agency , after all . However , you also need to know that the company you trust to manage your property on your behalf is fully compliant and belongs to the correct regulatory bodies .
This includes the PPRA ( Property Practitioners Regulatory Authority ) which furnishes compliant property management agencies with a Fidelity Fund certificate which has to be renewed annually . This document certifies that subject to the provision of Estate Agency Affairs Act ( previously Estate Agents Act ) 112 of 1976 , the entity whose name appears on the certificate has complied with the provisions of section 16 of act 112 or 1976 , and the regulations promulgated in terms of said section .
Always ask to see this certification and make sure that it is up to date .
92 AUGUST 2022 SA Real Estate Investor Magazine