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ANGOR PROPERTY SPECIALISTS

ANGOR Remains Residential

Hot Property PRODUCTION: Timothy Reeder

Established in 1998, ANGOR Property Specialists dwells among the leading Property Managing Agents in South Africa. Its managed rental division manages hundreds of properties on behalf of property investors, while highly skilled agents offer a peerless sales service to clients in ANGOR’s focus areas of the Northern Suburbs of Johannesburg and Sandton. “We manage over 45,000 units in over 450 complexes and estates,” ANGOR outlines. “We are one of the largest managing agents in South Africa.”

Having last year celebrated the 20th anniversary of the renowned quality and reliability it brings to clients, ANGOR Property Specialists, founded as a family business offering various property services, is

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now one of the country’s go-to names in property management. The company expanded quickly in its nascent years, growing its staff base and reputation until 2009, when it was taken over by new management.

Since this milestone ANGOR has extended its footprint significantly across South Africa, now managing property throughout Gauteng, KZN and the Western Cape. The company is responsible for the management

Sandton Emperor

INDUSTRY FOCUS: PROPERTY

of over 45,000 Sectional Title and Homeowner’s Association units in over 450 schemes, with a combined worth in excess of R40 billion. “We are extremely proud and we feel very blessed,” effused Executive Director, Dennis Flammer, in 2018. “I think we’ve got a great team of people here and we are very happy to be in the industry we are in.” Flammer was part of the team which oversaw the purchase of ANGOR in 2009 and he clarifies that a burning priority was to expand the company’s reach. “Initially the business was predominantly in the Johannesburg area,” he set out, “and many of our clients are still in Gauteng, but we have started to grow our reach in the other provinces. “For the last couple of years, we have been exploring opportunities in the Western Cape,” Flammer continued. IN SAFE HANDS When clients are looking for a new managing agent for their complex, it is imperative to know that such complex funds are in safe hands and being taken on by an experienced, committed team of specialists. ANGOR sets itself apart through its unique practices, and the combined weight of the assets it is entrusted to manage.

The Nicol

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“We’re one of only a handful of Property Management companies in Gauteng which operate a completely separate trust account for each of our managed complexes or estates,” ANGOR explains. “An individual trust account offers multiple benefits to our clients, the most important of which is complete transparency. “Our online facility allows Directors and Trustees to access monthly bank statements, creditor documents, budgets and financial statements at any time.” This all-important, but sadly often lacking transparency is one of the crucial factors in gaining client’s trust and security. It prevents the possibility of payments appearing on disbursement statements but not actually being made, which ANGOR points out was one of the major issues uncovered when the many Estate Management Agents placed under liquidation in recent years. “Our process is so transparent that this cannot happen, and our individual trust accounts allow Home Owners Association Directors and Body Corporate Trustees full access to bank statements and reports.” Fully compliant with Estate Agency Affairs Board, ANGOR too maintains Fidelity

// OUR EXCLUSIVE ONLINE FACILITY OFFERS TRUSTEES AND DIRECTORS A VAST MINE OF UP TO DATE INFORMATION // Fund Insurance across its trust funds, with additional insurance of R1 million additional insurance. ANGOR Online is the company’s crowning glory, bringing together the very best of ANGOR in a slick and comprehensive package, as it describes. “Our exclusive online facility offers Trustees and Directors a vast mine of up to date information. At their convenience and from anywhere in the world, Trustees and Directors are able to access all documents pertaining to the management of the scheme through our website and app.” SHOOTS OF RECOVERY The South African property market has been a tremendously difficult space in which to operate in recent months, and has required all of ANGOR’s skill and experience to stay afloat amid the

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many challenges. “House prices in South Africa have continued to drop when corrected for inflation,” stated Business Report in November, “even though the average home price percentage lent by banks and the volume of mortgages transactions were at historical high levels in the second quarter of 2019. “The loan-to-purchase-price reached 90.6% in the second quarter of this year –improving from an average of 88% in the second quarter of 2017–, becoming the highest level in more than a decade, the First National Bank Property Barometer showed.” The value of home loans also grew fast, with the FNB Property Barometer showing that the total value of mortgages provided to South Africans grew by 4.3% in the first half of 2019, compared to 3.4% for the same period in 2018 - the highest growth in almost a

decade, since November 2010. The combination of a high loanto-purchase-price proportion and the swelling value of home loans equates to a higher number of South Africans signing up for bigger and more loans, in turn injecting liquidity into and supporting the residential property market. In short, there has been not only a small growth in the volume of mortgage transactions, but lenders are also prepared to finance a bigger percentage of the purchase price. Indicators point to a narrowing demand-supply gap, and this is all great news for ANGOR’s continued success. “Banks are making it easier for first-time buyers to enter the market,” said CEO of Ooba, South African home loan exerts, Rhys Dyer. “Some are even prepared to offer home loans exceeding 100% of the purchase price to help cover transfer

and bond registration costs.” In Johannesburg specifically, a key focus area for ANGOR, optimism is high with the advent of a new political era, producing positive forecasts after a period of slowing growth. According to Andrew Golding, chief executive of Pam Golding Properties: “The generally market-friendly result will in all likelihood create a degree of certainty and go some way towards addressing the issues currently affecting confidence in the South African economy. “As a consequence, this will have a positive effect on the South African residential property market.”

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December 2019

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