Sectional Title Management Agents Near Me South Africa

How Do You Select One of the Best Property management Companies in South Africa ? 

When you hire a property management company to serve as the liaison between yourself and your tenants, you want to be sure you’re getting the best possible property management services for the money. The services  in South Africa  provides can range from ala carte to an all-in-one inclusive package. Along with that comes an array of fees for each. There is no set in stone fee structure we can provide you. But we can educate you on what common fees to expect and what each is commonly for. In the end it will be up to you to compare company fee structures and choose the best one that fits within your budget. Below are some of the most common fees and what service they provide.

Sectional Title Management Act

Commission

This is an ongoing monthly fee charged to the owner to  South Africa   and the responsibilities of overseeing the management of their property. This fee can vary from as little as 3% to over 15% of the monthly gross rent. In place of a percentage some managers may charge a flat monthly amount which again can vary from $50 to over $200 per month. All property management companies generally charge this fee.

Lease-Up or Setup Fee

This fee is charged to the owner to compensate the property manager for their initial time invested and resources used in setting up an owners account; showing property and/or other activities resulting in tenant placement. I guess you could look at it as a “finders fee” for placing a tenant in your property. Once a tenant has been placed and first rent income comes in, the property manager will deduct this fee from the rent proceeds. Property management companies have been known to require this fee upfront prior to tenant procurement. Usually this fee is non-refundable once the property manager has started the process of tenant procurement or any legwork has been initiated with the property. This fee can vary from none to as much as the first months rent, and usually is a one-time fee per tenant.

Interesting Facts About Property Managing Agencies in South Africa :

Sectional Title Managing Agents

When you hire a property management company to serve as the liaison between yourself and your tenants, you want to be sure you're getting the best possible property management services for the money. The services a property management company provides can range from ala carte to an all-in-one inclusive package. Along with that comes an array of fees for each. There is no set in stone fee structure we can provide you. But we can educate you on what common fees to expect and what each is commonly for. In the end it will be up to you to compare company fee structures and choose the best one that fits within your budget. Below are some of the most common fees and what service they provide.

Commission

This is an ongoing monthly fee charged to the owner to compensate the property manager for the responsibilities of overseeing the management of their property. This fee can vary from as little as 3% to over 15% of the monthly gross rent. In place of a percentage some managers may charge a flat monthly amount which again can vary from $50 to over $200 per month. All property management companies generally charge this fee.

Lease-Up or Setup Fee

This fee is charged to the owner to compensate the property manager for their initial time invested and resources used in setting up an owners account; showing property and/or other activities resulting in tenant placement. I guess you could look at it as a "finders fee" for placing a tenant in your property. Once a tenant has been placed and first rent income comes in, the property manager will deduct this fee from the rent proceeds. Some property managers have been known to require this fee upfront prior to tenant procurement. Usually this fee is non-refundable once the property manager has started the process of tenant procurement or any legwork has been initiated with the property. This fee can vary from none to as much as the first months rent, and usually is a one-time fee per tenant.

"You've Got To Be Kidding Me" Fees - These are ones I have personally had the pleasure of running into.

  • Your property is vacant, but we still will charge our monthly commission or a small flat fee.
  • "A For-Rent Yard Sign Fee". I believe this was $25/mo.
  • "Preventive Maintenance Fee". This was to cover the "just in case" and changing out A/C filters. If "just in case" never happens they still pocket the money. I believe this was $20/mo and I still was charged for filters.

In Summary

Read your Manager/Owner contract, understand what you are signing, ask lots of questions and know what the fees will buy you in services. A good real estate lawyer can help in negotiating the terms in a contract that suit both parties. These contracts are not set in stone. If your property manager will not negotiate, there are other property management companies that are eager to earn your business.

What Can You Expect From a Property Manager

Estate Management Companies

Usually, people get confused with the difference between a real property manager and a real property owner. Though they may be one person, still their tasks differ from one another. And most of the time, the people behind those titles are two different people. Maybe it is time to give a break for the property managers to be known and be recognized for the efforts they give to make your living wise and worthy.

Property managers are hired by the person who really owns the property. They are bound to manage a residential or commercial property. Their duties are the following: find and screen renters, collect rents, arrange repairs for rental property maintenance and handle evictions. They must be a licensed real estate professional to be determined by the state laws.

Property managers have two fields of specialization; one is for the commercial and another one for residential. In the commercial, managers specializes warehouse or retail space while the latter one specializes in full-time rentals, and on vacation or seasonal rentals.

Property Management Advice - 7 Ways to Organize You Must Know to Rent Your Places Faster

Reviews Of Property Management Companies

During winter and rainy months property manager and professional property management companies need to be mindful of potential water intrusion problems with each and every property in their portfolio. Many buildings start leaking right after construction, but do not manifest the water intrusion and building damage until years after the leakage has started. Water intrusion can lead to structural damage, rot, mold, termite, sick building syndrome and eventually significant mitigation repair costs. A prudent property manager will spend time during periodic inspections of the property to help prevent these issues from occurring and also ferreting out any existing and ongoing issues. A property owner should expect nothing less from their property manager.How Serious is Water Intrusion in Buildings?Every year hundreds of millions of dollars are spent investigation, diagnosing, repairing, and mitigating water intrusion problems in all types of buildings. Interior environmental problems such as mold can occur if the conditions are ripe, water intrusion occurs, and the interior mechanical systems do not mitigate the moisture creating a potentially toxic concoction and subsequent mold production. The mitigation efforts required after a mold infestation are significant including usually displacing any occupants of the building. The environmental companies must scrub down the interior, must prevent mold spores from moving from room to room, and must remove and clean interior components which have become contaminated. This is not a small effort, nor an inexpensive one.Speed is Critical in Mitigating a Leaking Building?Even though a property manager cannot prevent all of the possible water intrusion problems with a property they can be mindful of the potential areas which are susceptible to leakage and monitor those areas during their periodic inspections. The old saying an ounce of prevention is worth a pound of cure is never as true as in preventable water intrusion problems. Prudent property managers spend significant time during their periodic inspections of their properties to help their owners from having to deal with water intrusion issues. Ultimately this leads to a greater return on investment for the property owner which is the ultimate goal for the property management company.