Property Management Administration
With over twenty years’ experience as a specialist retirement property manager, Olympic Hervasa Group strives to add value and implement forward thinking systems on a regular basis.
Olympic Hervasa Group’s retirement property management product covers the all-inclusive management requirements of Sectional Title Body Corporate and HOAs. Value add services within our retirement villages include:
Financial management and reporting
- Prepare Annual Income and Expenditure Budgets; stabilize and maintain funds.
- Monthly finance reports to the board and management, including performance achievements according to the budget, balance sheet, levy statement, age analysis of Levy revenue outstanding, credit control reporting, surplus reporting, reporting on creditors roll and investment account bank statement(s).
- Pay suppliers and all accounting for the development’s approved expenses, including salaries and wages etc.
- Annual account preparation for the auditors.
- Complete and submit of all statutory returns.
- Surplus funds to be invested in a call account so that interest can be earned.
- Invoice and distribe senior members’ levy invoices and statements by email, post or delivery to their home within the retirement village.
- Collect levies and monthly charges together with senior members’ service support and assistance by management.
- Follow-up on unpaid levies each week, to ensure deadlines are met.
- Communicate with attorneys appointed to manage legal issues and collections within the retirement village.
Administration, advice and support services
- Prepare and distribute notices for General Meetings and AGMs.
- Arrange, attend and take minutes for trustee, board and directors’ meetings.
- Draft correspondence and distribute.
- Draft Clearance Certificates and distribute.
- Sectional Title and HOA management support services.
- Manage maintenance and building contractors on site.
- Continuous maintenance and upkeep of statutory and permanent records.
- Arrange and update insurance cover for common property and improvements administered by our financial department.
- Ensure that public liability insurance is in place, especially as part of the healthcare facility.
- Administer claims and manage policies of the retirement village.
Levy stabilization, maintenance and levy solutions
- We have a product that settles the full Levy income balance minus an agreed low cost finance charge on the first day of every month.
- This ensures a consistent cash flow for the retirement development and allows for sound planning and proper reactive maintenance. Suppliers’ accounts are also kept up-to-date so that these continuity with the supply of all products.
- Our management will also set up a levy stabilization fund for the unknown increase in costs as well as a maintenance stabilization fund based on re–sales within the development. This model and concept is available on request.
Information management with in our Resource Centre
- All villages will have online access to all minutes, management and conduct rules, plans, contact details and real time financial reports within our Resource Centre.
- Electronic and real-time reporting of levy invoices and statements and management information and support.
Specialist management team
- Our team consists of an experienced retirement village, old age home and frail care Portfolio Managers, assisted by accounting, human resources and admin staff who will be assigned to manage all aspects of your senior retirement development requirements.
- Our staff will manage municipal accounts and clearance certificate of the specific village.
- We provide a dedicated maintenance service provider list for all needs within the retirement development, including PABX systems, CCTV cameras, television hotel packages, Internet services, computer services, garden and maintenance, building as well as repair and maintenance, security, cleaning and pool care.
- Our management and maintenance support team and service providers will manage contractors, gardeners, cleaners, security guards and maintenance workers, as well as conduct regular inspections of work done and attend to urgent maintenance so that we continuously do preventative maintenance rather than wait till things break down.
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