Property Portfolio Manager
Below lists our services and requirements;
- PPM will recommend a good letting agent where possible, but the final choice will remain the choice of the client.
- PPM will liaise with the Letting Agent so that the client no longer needs to do this.
- The client will give PPM, internet operator access to all the bank and bond account of each property.
- PPM in conjunction with the Letting Agent will liaise with service providers to obtain quotes for repairs which will be submitted to the client for approval before the commencement of the work.
- PPM will ensure the work is inspected before payment is made.
- PPM will ensure that minimum balances on bank accounts are maintained so that debit orders for bond payments do not bounce. PPM will also insure that bond repayments are adjusted according to rate changes.
- Any further property purchases, the client will fax the Offer to Purchase to the PPM and they will handle all further communication with the Estate Agent, Attorney, Bond Orginator and Letting Agent. The client will at all times receive updates on the progress of the transaction from the PPM.
- PPM will provide the client with a monthly Excel Spreadsheet monitoring the following:
- Rental payable
- Rent received
- Bond installment paid
- Shortfall or surplus
- Levies and rates paid
- Maintenance and other costs paid
- Monthly remarks on each property, where necessary
- PPM ensures that all rates and levy accounts are up to date.
- PPM handles all refinancing of properties once the client has decided which properties to refinance.
For the above services PPM will require the following information (the PPM service cannot commence until all the below requirements have been met):
- List of properties and Letting Agents
- List of entities in which properties are registered
- Letter of Authority for all Trusts showing IT number
- Operator status on the clients bank accounts to check balances and to load payments for authorization by the client.
- Bank account number into which the Vacancy and Maintenance will be paid monthly.
For the above the clients will receive a monthly invoice of R250 plus VAT per property administered for Treoc Platinum clients and R350 plus Vat per property administered for non Platinum clients. If at any stage the client is not happy with the services of the PPM this agreement can be cancelled immediately.