Managing the finances of a community scheme, whether a sectional title or a homeowner’s association, is a critical task that requires expertise, transparency, and strategic planning. For trustees and body corporates, effective fund management ensures the smooth operation of the scheme and enhances the quality of life for all residents. We understand the complexities of property management and offer a comprehensive suite of services designed to ensure optimal financial management for your scheme.
Financial Planning and Budgeting
Effective property management starts with solid financial planning. Our team of experienced property managers works closely with trustees and body corporates to develop realistic and sustainable budgets that account for all aspects of scheme management, including maintenance, repairs, and reserve funds. As sectional title management specialists, we provide detailed financial forecasts and cash flow projections to help schemes avoid financial pitfalls and plan for the future.
Transparent Financial Reporting and Communication
Transparency is key to building trust between property managers, trustees, and homeowners. Clear and regular communication regarding a scheme’s financial status is communicated through our end-to-end property management software, WeConnectU. As a leading property management company in sectional title management, this software system ensures accuracy and accessibility of financial records, making it easier for trustees to monitor the financial health of the scheme and make informed decisions.
Levy Collection and Arrears Management
One of the most challenging aspects of property management is ensuring timely levy collection. At FMS Property Managers, we have developed efficient levy collection processes that minimise arrears and ensure consistent cash flow for the scheme.Our approach as a property management company is to handle these sensitive matters professionally and respectfully, helping maintain good relationships within the community while safeguarding the scheme’s financial stability.
Proactive Maintenance Planning and Fund Allocation
Proper maintenance planning is essential in sectional title management to preserve the property’s value and ensure resident satisfaction. Our portfolio managers work with trustees to create comprehensive MRR plans that prioritise critical repairs and improvements while managing costs effectively. This proactive approach not only extends the lifespan of common property but also prevents unexpected expenses that can strain the scheme’s finances.
Strategic Reserve Fund Management
A well-managed reserve fund is a crucial component of any sectional title scheme’s financial strategy. We help schemes establish and maintain adequate reserve funds in compliance with the Sectional Titles Schemes Management Act (STSMA). We provide guidance and assistance on how much to allocate to reserves and how to invest these funds wisely, ensuring that the scheme is prepared for major capital expenses without the need for special levies.
Effective management of a scheme’s funds is vital for the sustainability and success of any scheme. Our comprehensive range of property management services is tailored to the unique needs of sectional title schemes. From expert financial planning and transparent reporting to efficient levy collection and strategic reserve fund management, we’re dedicated to ensuring the financial health and stability of your scheme.
Visit FMS Property Managers to learn more about how we can help you effectively manage your scheme’s funds.
