Bloubergstrand Bloubergstrand

Financial Management

Our office has a dedicated credit control and debt collection clerk, as well as a bookkeeper which make up our financial department.

On a monthly basis, we do the following:

  • Sending out of levy statements to all members around the 25th of each month.
  • Processing of any fines, debits or credits and assisting members with any queries relating to their accounts.
  • Submission of a comprehensive financial package to the Board of Trustees, including an monthly income statement, balance sheet and a year to date trial balance with comparitive budget figures to assess. This package also includes bank statements for all the scheme's bank accounts and a detailed report on accounts in arrear, showing feedback or actions taken.
  • Processing of payments on approval from the Trustees, being only an administrator on the client's own bank account(s).
  • Stringent debt collection procedures which involve analysing arrear accounts twice a month and following the neccessary steps depending on the severity of the account. We usually send friendly reminder letters after the 7th and again after the 15th of the month, should the account remain in arrears. Failing payment by the 1st of the following month we usually call to find out if the client is aware of the arrears and discuss options to settle the account. However, should any account remain unpaid for more than 2 months we will issue a final demand letter in attempts to amicable resolve the issue without getting attorneys involved, but should no agreeable arrangement be made within 7 days of such notice the account will be handed over to attorneys for legal collection of the funds.

On an annual basis, we do the following:

  • Bookkeeping to trial balance of the client's financials and have it externally audited by an auditor chosen by the Board of Trustees or Members.

Administrative & Governance

Our team is fully versed with all the relevant legislative requirements pertaining to scheme management and will guide a Board of Trustees where necessary to ensure full compliance with the law and also assist Trustees to fulfil their duties where required.

We stay abreast with all the new changes in legislation and ensure that all actions are above-board, which is especially important with the advent of the Community Schemes Ombud.

We will when requested schedule and chair quarterly Trustee meetings and any other Annual or Special General Meetings. Minutes of these meetings are then placed on record in accordance with the Act and dually sent to the Trustees / Members within 7 days of such event. All action points are also transferred into tasks via the online platform system.

The responsible Portfolio Manager will attend to all daily communication relating to the scheme and keep the Trustees aware of all complaints, queries, and compliments.

The responsible Portfolio Manager will oversee all tasks and liaise with the Trustees regarding approvals, progress, and completion.

Being in such close vicinity to our clients, the responsible Portfolio Manager will make regular visits to the scheme to get first-hand familiarity of the on-goings at the premises.

We like to keep our thumb on the pulse and provide a very personalised service to our clients, making suggestions and not merely taking and carrying out orders.

Maintenance Management

Our office has a dedicated maintenance manager who oversees all maintenance-related issues and deals with various contractors to obtain quotes, reporting to the responsible Portfolio Manager and Board of Trustees. He also inspects work done by contractors after completion to report on any irregularities before any payments are made.

We also have a small team of workers to attend to all the minor maintenance issues that don't warrant outside contractors in efforts to get things done efficiently and also save on costs.

We have built up great relationships with local contractors and service providers specialising in various areas and have considerable experience when dealing with certain problems. We are therefore able to provide tried and tested advice when a common issue occurs, or we will refer the Trustees to a suitably qualified person that is better specialised in more difficult situations.

We exercise pre-emptive strategies when dealing with a schemes' maintenance by properly planning and advising the Trustees of potential risks before they become a problem. We try to remind the Trustees when items are due for maintenance, as experience has taught us.

This pre-emptive approach is paramount in keeping common areas in a good state of repair while saving costs due to perhaps only having to do minor maintenance rather than a full replacement.