Company Profile
Intersect Sectional Title Services CONNECTING YOUR BODY CORPORATE TO THE INFORMATION TECHNOLOGY AND HUMAN RESOURCES IT NEEDS A bit of history: Intersect Sectional Title Services has been administering sectional title schemes and property owners associations, both commercial and residential, for over 40 years, having previously been Garvin Real Estate and Ovland Real Estate Agencies respectively.
Icon Building, CBD, Cape Town
Intersect inherited the proven skills and established experience of Ovland and combined them with the fresh, energised approach of its parent company, the Spire Property Group. Spire is positioning itself as the premier independent property asset management group in South Africa and Intersect is an integral part of the group. Our staff:
SUMMARISED SERVICES
SECTIONAL TITLE ADMINISTRATION
HOA /POA ADMINISTRATION
PAYROLL ADMINISTRATION
Intersect is headed up by Managing Director, Mr Martin Bester, who has a long and well respected career in the property management industry. Martin is an acting principal and as such has completed the prescribed national qualifications at both levels 4 and 5, as prescribed by the Estate Agency Affairs Board, as well as the relevant professional designate exams. Martin is supported by a team of skilled individuals and each scheme managed is allocated a dedicated Property Manager; Property Administrator; Debtors Administrator; Creditors Administrator; Accounts Administrator and a Facilities Administrator - to assist the trustees and staff with the repairs and maintenance needs of the common property. Each property manager at Intersect, apart from individual qualifications, is certified by the Estate Agency Affairs Board and has completed, or been exempted from, the prescribed national qualification and has successfully completed the relevant prescribed professional designation exams.
FINANCIAL ADMINISTRATION
FACILITIES MANAGEMENT
DEBTORS ADMINISTRATION
The intelligent use of information technology is a foundation of our success as the absence of reliable, accurate information hampers the making of sound decisions.
CREDITORS ADMINISTRATION
The decision was made to purchase an international software package to manage all aspects of our management of property.
ACCOUNTING
This package is known as Management Reports International (MRI) and currently has more than 4,500 installations spanning 5 continents and in 41 countries.
TAXATION
MRI has an integrated general ledger and allows for a great deal of financial reporting. We work on an accrual basis with a live general ledger, keeping trustees updated with the latest position of the scheme at all times.
Information Technology:
TRUST MONIES The Intersect Sectional Title Services Trust Accounts are operated in strict accordance with the Estate Agency Affairs Board’s requirements, are audited annually and are reconciled daily.
Montebello, Newlands
INFORMATION TECHNOLOGY
Reporting:
The intelligent use of information technology is a foundation of our success as the absence of reliable, accurate information hampers the making of sound decisions.
We issue mid monthly reports to all the Trustees by electronic mail in PDF format. The monthly report includes a trial balance, debtors report, creditors report and a statement of income and expenditure with year to date budget variances. Over and above the mid monthly reports, our clients are welcome to request additional reports whenever they wish. We also issue a management pack for all trustee meetings, which includes the above reports but also any additional information that the trustees may require for their meetings.
FIDELITY AND INSURANCE Current EAAB Fidelity Fund Certificate Professional Indemnity Insurance
Fidelity Guarantee
Directors Indemnity
Park Lane, Pinelands
Administration and Accounting: Reliable and efficient administration with strict adherence to procedural and fiscal disciplines is absolutely essential and enables us to provide a quality service to our clients. All transactions are facilitated through our trust cheque account, opened in terms of section 32 (1) of the Estate Agency Affairs Act. The trust account is audited annually, reconciled daily and we receive an annual Fidelity Fund Certificate in terms thereof. As we operate a trust cheque account receipting is done on a daily basis and each client is allocated with a separate ledger account into which all relevant transactions are posted. Each client also enjoys a trust investment account, opened in terms of section 32 (2) of the Estate Agency Affairs Act, into which all funds, in excess of expenses incurred on a monthly basis, or as foreseeable, will be invested and the best possible interest rate applied whilst, at the same time, ensuring that the account is fluid.
ENSURING THE EFFICIENT FLOW OF FUNDS Debtors Administration: We issue monthly levy invoices to all owners, by electronic mail wherever possible, st allowing sufficient time before the 1 of the following month, to ensure prompt payment. We strongly advocate the debit order process and continuously strive to improve the number of owners paying levies by means of a debit order mandate. Should an owner default on their payment a rigid process is initiated and implemented in terms of prevailing acts from time to time, such as the Debt Collectors Act and the National Credit Act.
34 St Georges, CBD, Cape Town
Ultimately accounts that are not settled, despite our efforts, are handed over to collection attorneys for further action and conclusion within a 60 day period. Interest on overdue accounts is charged in terms of a Trustees’ resolution, made from time to time.
CURRENT CLIENT MAKEUP Our clients are spread over most suburban areas in Cape Town and below is a pie chart showing the areas we currently operate in and the percentage of our portfolio that each area accounts for: Western Seaboard
Payment of Accounts: As we operate a fiduciary trust account we employ very strict policies and procedures when it comes to managing our client’s funds. No money is paid out of the trust account unless the client has authorised same, with the exception of recurring or routine invoices such as the municipality or monthly service providers which we agree upfront, and all creditors have to go through an initial process of registering their banking details with us so as to ensure that monies are paid to the correct parties.
Southern Suburbs
Thereafter all payments, released from our trust account, is checked by a Property st Manager for 1 release and thereafter again by the Managing Director or, in his nd absence, a Director for 2 release.
Northern Suburbs
Membership:
CBD & Atlantic Seaboard
Intersect Sectional Title Services is a registered member of the Estate Agency Affairs Board [EAAB] and the National Association of Managing Agents [NAMA] and the South African Property Owners Association [SAPOA] and as an alternative member of the Sectional Title Regulations Board [STRB]. Peace of Mind:
70% of our portfolio is made up of residential sectional title, however the balance is made up of commercial, retail, industrial and mixed-use properties.
Intersect Sectional Title Services is a registered estate agent and we operate all accounts in strict accordance with the Estate Agency Affairs Act. Therefore the Estate Agency Affairs Board’s fidelity fund covers all transactions to and from our trust cheque and investment accounts. Moreover, Intersect holds professional indemnity cover as well.
MEETINGS AND TRUSTEE SUPPORT Meetings of the trustees and general meetings: We encourage regular trustee meetings, generally on a quarterly basis in conjunction with the financial year, which we will arrange in conjunction with the Chairperson. We will attend, if invited, and record these meetings so as to ensure that we are actively involved in the management of the scheme on an ongoing basis. Up to date financial reporting is supplied by the property administrator to the trustees prior to each meeting, including comparative income and expenditure reports; trial balances as well as a debtors and creditors age analysis. We will attend and record the Annual General Meeting and, if mutually agreed, any other Special General Meetings. We will assist the Chairperson with all statutory requirements of such meetings such as quorum requirements and voting procedures. Payroll Services: A payroll service for your employees is provided. We ensure that all statutory returns and obligations, such as UIF, PAYE and COID are complied with and up to date. Limited human resources advice and assistance is also offered, however more complex labour issues would be outsourced to a preferred service provider.
Please visit our website at www.intersect.co.za for more information, advice, downloads, news and testimonials.
Contact Us 2nd Floor Spire House Tannery Park Rondebosch Cape Town 7700 tel: 021 659 5965 fax: 021 659 5987 email: infoct@intersect.co.za www.intersect.co.za
PO Box 155 Rondebosch 7701
Rondebosch Oaks, Rondebosch