DEBT COLLECTION

As part of the property management services performed by Astrodon, debt collection is handled expertly and efficiently through Centrec Trust Financial Services (Pty) Ltd, a wholly owned subsidiary of Astrodon. Through Centrec’s well-organised and technologically advanced capabilities Astrodon is able to alleviate unnecessary time constraints while maintaining and managing a total debtor’s book of under 4%, while the current industry norm is well above 60% in arrears.

According to legislation, levies are due and payable on the 1st day of the month in advance.

Should any section owner fail to settle the amount due in terms of his or her section by the 7th of the month (funds must reflect in the nominated bank account by the 7th of the month) the following process will be followed, of which any and all costs incurred herein would be debited and recovered from the defaulting owners levy account:

1. 8th of the month – Reminder letter and SMS informing the owner of non-payment
2. 12th to 14th of the month – Notice and SMS informing the owner of restriction of utility supply
3. 17th to 19th of the month – SMS confirmation of restriction due to non-payment

We confirm that all Sectional Title scheme’s are supplied by the local authority with a bulk meter supply irrespective whether the actual meter supply to the unit is Prepaid or Conventional metering. We confirm that restriction of supply will occur on both Prepaid and Conventional metering, as the scheme would still be liable for all consumption registered on the scheme’s bulk meter with the local authority, and failure to settle the amounts due in respect of the billing from the local authority will result in the termination of all services to the entire scheme, not only the individual whom failed to settle their accounts.

Centrec is registered with the Council for Debt Collectors in terms of the Debt Collections Act 114 of 1998, which regulates the professional conduct of debt collectors.