CHALLENGING YEAR… BUT SIGNS OF RETURN TO NORMALITY EVIDENT
Media Release
December 2021
CHALLENGING YEAR… BUT SIGNS OF RETURN TO NORMALITY EVIDENT
“It’s been a tough, challenging year to be sure,” says Michael Schaefer CEO of specialist finance company ZDFin, “however, we have seen a late, but strong demand for finance over the last few months.”
“The emergence of the Omicron strain and it’s impact on our people and our struggling economy not withstanding, there is an encouraging indication that South African’s are getting back to a semblance of normality. While community schemes may have delayed the works that needed doing, trustees are not neglecting their fiduciary responsibilities to ensure that the properties in their care are maintained.”
Funding for essential maintenance that has been delayed, due to uncertainty or lack of funds, but is now critical, has been most in demand; this includes water-proofing and other water-related maintenance, painting, security and utility metres (water and electricity). ZDFin’s trusted and dependable network of key professionals such as engineers, builders, plumbers, solar specialists etc. are able to give clients timeous, long lasting solutions to the real issues facing community schemes.
Schaefer says that there has also been ‘an increased interest’ in ZDFin’s executive managing agent (EMA) service. “It’s clear that the role and functions of an EMA are not always understood by community schemes or even managing agents (MA) themselves,” he adds and “there is work to be done in communicating the benefits to schemes in the year ahead.”
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ABOUT ZDFIN – https://zdfin.co.za
ZDFin is a specialist finance company providing smart solutions for Sectional Title Bodies Corporate, Home Owners’ Associations and Share Block companies. We service all residential Community Schemes affected by the Community Ombud Service Act, including non-profit companies and voluntary associations governed by a constitution. ZDFin has a wealth of practical experience in property and financial management. We understand these challenges and our range of targeted financial products can be tailored to meet the specific needs of each individual scheme.
CEO, Michael Schaefer was previously a director and shareholder at Trafalgar, the country’s biggest residential property administration company, started by his father over 50 years ago. His move to establish ZDFin was in part motivated by the 2016 Sectional Titles Schemes Management Act.
