Property Pulse

The cycle 2026-04 audit closed with a gross recovery position of R517,045 across thirteen recover-verdict rows spanning escalation shortfalls, OpEx pro-rata errors, turnover-rent under-billings, GLA understatements, utility pass-through gaps, and two utility tariff back-corrections — the single largest item being a R124,800 CoJ tariff-band misalignment on bulk meter MM-01 running across eight cycles. Set against this are three liability rows totalling R27,045 owed out, comprising a R12,400 tenant utility over-recovery on submeter SM-04, a material R8,845-per-month GLA overstatement on AfriSky Logistics that legal must assess before the next billing run, and a R5,800 CoJ surcharge refund due on MM-04, leaving a net recoverable NOI uplift of R490,000 to be lodged in the next billing cycle. On the arrears side, two rows returned clean with zero variance on insurance pass-throughs and anniversary escalations, confirming those leases are current and correctly applied. Three rows sit under investigate and need attention by close of business tomorrow: SM-12 has carried estimated reads for six consecutive cycles and the divergence at last manual capture suggests chronic under-reading requiring a technician pull, SM-19 is running a trailing power factor of 0.91 against a 0.96 contractual threshold and must go to the engineer before any penalty is lodged, and the Block C common-area allocation has drifted 0.3% from the GLA-weighted baseline — below re-invoice threshold today but worth watching for trend before next quarter's CAM reconciliation.

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