The management contract for Mutual Heights, the Art Deco building in Darling Street being converted to apartments, has been awarded to Pam Golding Sectional Title Administrators, a member of Golding Commercial Properties .

The company manages a number of other prominent buildings in the CBD.

These include Westside Studios, Roeland Square, 106 Adderley Street, Exchange Building, De Oude Schuur, Heritage Square, 50 on Long, Murray House and Aon House.

Charles Keefer, managing director of the company, said: "Clearly the demand for residential accommodation in the CBD has been identified and it's extremely positive from an investment point of view to note the calibre of the major players entering this market.

"However, given the sizeable investment in these redeveloped, prime buildings, having a professional team of experienced and skilled staff handling your management contract is an essential component in preserving and enhancing the value of the property.

"It's vital that the key focus of the sectional title management company is service-driven in order to protect property values by responding quickly and efficiently to requests from trustees, having accurate and up-to-date monthly management accounts, being pro-active with regard to maintenance issues and by utilising and sharing expertise acquired from working with other similar complexes.

"Some investors don't give sufficient consideration to the standard and expertise of the body corporate management before they invest," he said. "They need to ask questions about the financial situation, for example, whether any special levies are required.

"Similarly, the recent introduction of a sewerage levy brought home the need for a capital reserve, and many body corporates were unprepared for the financial impact of this unexpected demand on their resources."

Tracy Struwig, a portfolio manager for the company, said: "The latest trend in sectional title is the move towards loft-style apartments, which are springing up in the CBD, and which are proving popular among local, particularly young Capetonians, as well as overseas investors.

"Some owners spend considerable time away from their apartments, and need the peace of mind of knowing that their valuable asset is being capably and well cared for in their absence, as well as while they are in residence.

"Convenience and security are key factors in the appeal of such apartment buildings - generally these schemes have the benefit of a concierge /security 24 hours a day, and they are ideally located for those who work in the CBD," she said. - The Argus