Routine management services
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Portfolio management services
1: A dedicated portfolio manager who acts as the point of contact for all sectional titles scheme related queries and resolution advice
2: Preparation and electronic distribution of all owner and service provider correspondence
3: Preparation and issuance of notices of Annual General Meetings
4: Coordination and attendance of all trustee meetings, including the preparation and distribution of meeting minutes
5: Coordination and sourcing of quotations / service providers in relation to repair, maintenance and improvement initiatives
6: Application of conduct rules and provision of information / advice
7: Application of prescribed management rules and provision of information / advice
8: Application and enforcement of Sectional Title Schemes Management Act
9: Provision of CSOS advice (however in the event that there is a formal hearing and legal advice is required,
Novatus will recommend a legal advisor, who will levy an additional fee)
Financial management
1: Monthly distribution of electronic levy statements
2: Collection of levies, service charges and (or) other income
3: Debt collection services in relation to arrear levies / income / charges and liaison with legal service provider(s)
4: Processing of supplier / service provider / municipal invoices (including monthly payment processing)
5: Preparation of annual budgets and definition of annual objectives (including annual strategic initiatives)
6: Processing of payroll (if applicable)
Monthly reporting
1: Income statement and financial performance relative to budget
Balance sheet
2: Levy roll
3: Debtors analysis (including units in arears)
4: Reserve fund reporting
5: Supplier analysis
6: Cash flow analysis / management
Annual reporting and statutory processes
1: Preparation of audit file and liaison with auditors
2: Preparation and submission of statutory returns
3: Payroll administration
4: Preparation and submission of Community Schemes Ombud Service (“CSOS”) annual return
5: Electronic archiving of statutory and body corporate records