By using the CommPropRisk (CPR) management tool in tandem with a proactive risk culture, Trustees/ Directors/Estate Management or professional Managing Agents will be in a position to develop a strategic and systematic approach to managing existing and potential future risks and areas of weakness/vulnerability facing the respective Community Schemes under management. The Management Activity area of the tool also enables objective management of the Managing Agent relationship and analysis of activity on the Community Scheme. While a risk management focus using the CommPropRisk (CPR) risk tool will not eliminate all the risks facing a Community Scheme, CommPropRisk (CPR) will provide the following key benefits:
Professional Managing Agents
- Enables Professional Property Managers to manage Community Schemes under their management in tandem with the Trustees or Directors.
- Membership flexibility and user optionality enables the allocation of clear responsibility for the management of a portfolio of Community Schemes, to specified employees.
- Easy addition, removal and amendment of Community Schemes under management.
- Enables a detailed assessment of the potential impact of the identified risks to a Community Scheme and prioritisation of these risks.
- Provides a comprehensive dashboard of each property along with graphics and feedback on areas of critical vulnerability.
- Helps identify the weaknesses and bigger risks facing individual Community Schemes.
- Managing Agents can readily extract a dashboard view and appropriate graphics of a Community Scheme for use at Trustee/Director meetings or AGM’s/SGM’s.
- Will be seen as a significant value-added service offering to Community Schemes under their management.
- Assists Managing Agents in providing continuity for new Trustees/Directors in the respective Community Schemes.
- Helps Managing Agents enforce Governance and Regulatory Compliance in Community Schemes under their management.
- Helps Managing Agents focus the Community Scheme on the key areas requiring the attention of Trustees/Directors.
- Enables Managing Agents to track and manage the extent, time and type of activity spent on a Community Scheme relative to fees being earned.
- Enables objective assessment of the relationships with Community Schemes under management.
Trustees/Directors/Estate Management/Office Bearers
- Helps entrench clear responsibility and accountability for areas of risk between Trustees/Directors, the Community Scheme, Managing Agents, Estate Management and Operators etc.
- Enhances overall governance, oversight and enforces a risk culture in the Community Scheme.
- Focuses the efforts of the Trustees/Directors and Estate Management on the key issues and risks facing their Community Scheme.
- Enables Trustees or Directors to better fulfil their fiduciary obligations to the Community Scheme they serve.
- Provides continuity for the consistent management of risk and financial control within the Community Scheme.
- Enables better timed and informed decision making, and the prioritisation of risks by making use of an integrated ERM Framework.
- Helps improve overall compliance by highlighting areas of non-compliance.
- Enables the management and mitigation of identified risks with proactive focused programs of action, so that the impacts are greatly reduced.
Repository
- Provides a repository for the storage of documentation, financial records and other key records of each Community Scheme.
- The repository ensures continuity where there is a change in, or turnover in Trustees/Directors/Office Bearers, Accountants and/or Managing Agents.
Education
- Increases the “education and awareness of risk” within the Community Scheme for Trustees/Directors/Managing Agents /Estate Management and Operators.
- Acts an educational and learning tool for both employees of the Managing Agents and the Trustees/Directors/Office Bearers of the respective Community Schemes.
Office
7 Sunninghill Office Park, Peltier Dr, Sunninghill, Sandton, 2128, South Africa
Call Us
Phone: (27) 011 706 3977
Mobile: (27) 083 307 2587