How to check a manager's statements are accurate and clear

When you own rental property or a share in a residential scheme, you depend on your manager's statements to know whether your investment is performing and your money is being handled properly. But a well-formatted report isn't the same as an accurate one. Before you sign an agreement or continue with a manager who is already in place, you need to verify what they tell you.

The goal is straightforward: confirm that the figures they submit match the reality of your property's income and costs, and that nothing material is being hidden or misrepresented. This doesn't require you to become an accountant. It requires you to ask specific questions, check concrete sources, and speak to people who know the property and the manager's work.

Search their registration and track record

Start with the registers. Ask for the manager's registration number with the PPRA (Property Practitioners Regulatory Authority) or equivalent professional body in your province, and verify it yourself online. A registration number tells you they have met baseline compliance standards and are subject to a code of conduct. Note the date they registered and whether there are any complaints logged against their name.

Next, ask for references from other property owners they manage for—ideally owners of similar properties (townhouses, sectional titles, or residential blocks). When you phone these references, don't ask general questions. Ask them: "How detailed are your monthly statements?" "Have you ever spotted an error and asked them to correct it?" "Do they respond quickly when you question a figure?" "Have you ever audited their work or had a co-owner dispute their numbers?" These answers tell you whether the manager is willing to stand behind their statements and whether they make mistakes.

Request original source documents

A statement is only as honest as the invoices and receipts it summarises. Ask the manager to provide, for a specific month:

• Copies of every receipt or invoice they cite (water, rates, repairs, agent fees, salaries).
• A bank statement showing deposits and withdrawals.
• A copy of any VAT invoice if they charge for their services.

Do this for a random month six months into your relationship with them, not the first month. Cross-check the totals. If they claim tenant rent of R12,000 but the bank deposit is R11,500, ask why immediately. If they list an electricity bill of R800 but the invoice shows R950, that's a red flag.

If they hesitate, make excuses, or charge you for copies, that is itself a warning sign. A competent manager should have these documents organised and retrievable.

Verify tenant payments and outstanding amounts

Ask for a tenant ledger—a record showing each tenant's monthly rent, what they've paid, and what is outstanding. This should match the income line on your statement. Cross-check by asking the manager: "Which tenants are currently in arrears, and by how many months?" Then ask them: "What steps have you taken to recover this?" A manager who is vague about arrears or slow to pursue recovery costs you money.

If you can, speak to tenants directly (or ask your co-owners to do so) and ask: "Who do you pay rent to, and have you paid this month?" This isn't about mistrust—it's about confirming that the manager's record of receipts matches the tenants' record of payments.

Meet with them to discuss anomalies

If a figure seems odd—a sudden spike in maintenance, a supplier you've never heard of, or a charge that appears in two different line items—ask them to explain it in writing. A good manager will provide a clear answer: "In April we repainted the common area, R4,200 to Ace Painters, invoice 2847." A poor one will deflect or give you a vague answer.

After you've verified statements from a few months, you'll have a sense of whether the manager is transparent and thorough. Accuracy builds confidence. If you find repeated errors, unjustified costs, or reluctance to show you the proof, it's time to find someone else. On Strove, you can browse property managers with verified credentials and read owner reviews that speak to their reporting and reliability. Verification isn't paranoia—it's diligence.