Property Management

BENEFIT OF USING IDWALA PROPERTY GROUP

At IDWALA Property Group we understand that your property, like any investment, is only as good as its net annual return and capital appreciation. To maximise both, our objective is to ensure that your property is well maintained at optimum condition, presented at a reasonable cost and to select suitable qualifying tenants while achieving competitive market rental rates for clients.

As managing agents we bring an organised professional approach to the planning, marketing, inspection, collection and supervision of our clients’ property whether it’s a single residential, multiple residential units or a block of flat or apartments.

Our day to day block of flat management duties includes:

• Setting up, management and administration of all planned maintenance and service contracts.
• Provision of financial management and funds administration, including the preparation of accurate budgets and timely service charge accounts.
• Providing responsive and courteous communication and administration of all matters.
• Arranging and attending formal and informal meetings.
• Assistance with matters relating to compliance with lease provisions.
• Appointing and liaising with service contractors and monitoring performance.
• Making payments to suppliers, monthly in arrears, on receipt of properly presented invoices.
• Carrying out regular site inspections.
• Liaising with local and statutory bodies on matters of their responsibility that affect the block.
• Dealing with solicitors enquiries on lease sales

We offer a range of property management services including:

• Property and asset management
• Facilities management
• Full financial management including: Comprehensive service charge, expenditure and income accounting and reporting plus VAT accounting and reporting to clients
• Rent review and lease renewal negotiations
• Timely demands and collection of rent
• Prompt accounting of monies collected from Clients Rental Insurance fund
• Regular and routinely inspections
• Professional services co-ordination with planned programmes of maintenance
• Rent review, lease expiry diary and rent renewal
• Close liaison with Tenants
• In-house 24/7 helpdesk contact numbers managed 365 days of the year

Our Property Management Division

1. Our Management and Staffing Plan

On top, of the current management staff that we have; we have added the following to the team:-

• Property Manager – this is a qualified person with more than 15 years of expertise as property manager managing block of flats, hotels and malls.
• Accountant – we have a consulting accounting firm that provides all the accounting reports monthly and annually
• Building Supervisor – to work with our property manager
• Floor managers – working closely with maintenance manager
• Full time maintenance crew for minor maintenance and gardening
• Cleaning and waste management staff is outsourced from a reputable cleaning company
• Security staff is also outsourced from a reputable security company.
• Environmental safety officer – we employ the services of an environmental safety officer periodically as and when needed.
• Other contractors are outsourced depending on the services that need to be rendered.

2. Computer Aided System Software

As a company we have 2 (two) major rental management software at our disposal that provides excellent services and transparency on tenants pressing issues.

1. We use a rental system that performs tenant’s credit check, rental history, and screening, create invoices for tenants, tax reports etc. With this system we easily monitor tenants who hasn’t paid and in arrears and then send relevant notices and demands.
2. We also have property management software – this software is more detailed because it covers the business aspect of property managers such as marketing, maintenance issues, legal and collections, tenants and landlord communications. This user-friendly software will keep our residents satisfied and keeps them on track of on all the updates and developments with the property.

3. Property Marketing

1. We prepare the home or apartment for rent
2. We clean the apartment or home and optimize interior appeal
3. Manicure landscaping to increase curb appeal
4. We create ads tailored to the property and advertising medium.

   Some of the mediums commonly used for promoting the property are:

   1. Paid and free rental listing websites
   2. Print publications
   3. Website portals advertising
   4. Signs
   5. MLS
   6. Fliers
   7. Show housing

There are many way to market a rental property. We load the property to our websites and other 12 websites we are linked to such as property24, privateproperty.com, houze; gumtree, iol.co.za, immo Africa, pricecheck, mitulaza, locantoza and many others

4. Tenant Screening, Selection and Inspections

1. Tenant Screening and Selection
   • Perform a background check to verify identity, income, credit history, rental history, etc.
   • Grade tenant according to pre-defined tenant criteria
   • Inform tenants who were turned down
2. Tenant Move In
   • Draw up and formalizing leasing agreement
   • Confirm move in date with tenant
   • Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
   • Ensure all agreements have been properly executed
   • Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.
   • Collect first month’s rent and security deposit
3. Rent collection
   • Receiving rent and deposit into our trust account
   • We keep the deposit for later inspection and tenants moving out
   • Hunting down late payments
   • Sending out pay or quit notices
   • Enforcing late fees
4. Inspections
   • Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
   • Send owner periodic reports on the condition of the property
5. Tenant Move Out
   • Inspect unit and fill out a report on the property's condition when the client moves out
   • Provide tenant with a copy as well as estimated damages
   • Return the balance of the security deposit to the tenant
   • Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
   • Clean unit and perform and needed repairs or upgrades
   • Managing tenants evictions
   • Re-key the locks
   • Put the property back on the market for rent

5. Building Maintenance Plan

• Provide and oversee an in-house maintenance crew
• Our in-house maintenance staff will be available 24 hours a day, seven days a week to protect property and take care of tenants
• We establish a preventative maintenance policy to identify and deal with repair needs. This is communicated with the tenants telephonically or via our property management app.
• We will also need to have a 24 hours emergency hot line for anything that can be of emergency whether repairs, bomb scare, fighting etc
• Provide an network of licensed, bonded and fully insured contractors who have been vetted for good pricing which includes plumbers, electricians etc
• Maintain and clean outdoor areas

6. Insurances and Municipality Rates

Insuring a block of flats or apartments is very different from insuring a single dwelling. We will look at all the insurance needs including but not limited to:

• Loss of monthly rent
• Landlord Building and Contents Insurance
• Communal contents
• Plant inspection and breakdown
• Terrorism Insurance
• Property owners’ liability
• Make sure that the municipality rates are paid and up to date.

7. Legislation

We will keep up to date with changing legislative requirements related to the property, which are government and local municipality requirements.

We act on behalf of the owner in court and on the rental tribunal in case of any event of the tenant disputes.

We ensure that all safety and security regulations and by-laws are adhered to.

8. Leasing and Building policies

We will establish and enforce precautionary policies and procedures responding but not limited to:-

1. Emergencies
2. Late rentals payments
3. Pets control
4. Visits and friends
5. Noise and parties
6. Building and tenants safety

9. Financial Management

• We prepare and control the budget
• Provide monthly and annual financials for property
• Make payments on behalf of owner (Mortgage, insurance, contractors and other expenses etc.)
• Detailed documentation of expenses via invoices and receipts
• Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
• Provide annual reporting, structured for tax purposes as well as required tax documents
• Advise owner on relevant tax deductions related to their rental property
• Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses