Madikoe Holdings is a property agent contracted to manage San Packett Residential Property owned by Ms Louisa. This property is situated in the precinct of Santa Mario city. For the past 15 years

BACKGROUND
Madikoe Holdings is a property agent contracted to manage San Packett Residential Property owned
by Ms Louisa. This property is situated in the precinct of Santa Mario city. For the past 15 years the property generated a revenue of R5,5 million per annum. However, in the past three years, from 2022
to 2024. the revenue has dropped significantly by 50% since Madikoe Holdings was contracted to manage the residential property. The apartments are clapidated, hifts are not working, and there 1s no security personnel to control access of visitors to the building. Ms Louisa has called an urgent meeting
with the Body Corporate, Management of Madikoe Holdings, and representatives of the tenants to discuss strategies to retum the building to its original state.
INSTRUCTIONS
Below is a transcript (exact words written down) of what was said under the relevant agenda item 2.1 presented in the form of a dialogue. As the secretary of the body corporate, it is your duty to take minutes during meetings. At this point, the meeting is discussing agenda item 2.1: strategies to retur
the San Packett Residential Property to its original state. Write minutes of the meeting for agenda 2.1 only. This means that the complete format for minutes is not required. Remember that in taking minutes, we carefully select and summarise information, and make changes to style and grammar.
Note that you should not record what each person said in turn. You should use the linear format (in
sentences and paragraphs) of minutes. Your minutes should be about 1 page in length.
TRANSCRIPT
Mr Donaldson (Chair): It’s my pleasure to welcome you in this meeting, although it was called at
short notice. Ladies and gentlemen, without any waste of time, I want us to move to agenda item 2.1
strategies to return the San Packett Residential Property to its original state. We all know that our
rental business at San Packett Residential Property has collapsed. The property is vandalised and
tenants have terminated their lease agreements- very little income is generated
Ms Mthombeni: It’s a pity that we can’t unscramble eggs. If I knew who these vandals are, and who
is looting the funds that were intended for managing this property, I would ensure that they are locked
in jail, and keys are thrown away forever. Guys, I don’t think you know who I am! Do you?
Ms Louisa: Ms Mthombeni, we understand your frustration as one of the tenants who has been renting
a flat in this property for donkeys’
years. The property was indeed everything to you! Now, let’s
discuss the matter at hand about returning the residential property to its original state. Think about new
strategies that can be used to change the status quo of this property, it could be in terms of raising
funds, better ways to manage the property or anything else.
Mr Donaldson: I fully agree with you, Ms Louisa. Stop complaining and provide suggestions, please?
Dr Farai: As a member of the body corporate, I think it could be advisable that we apply for a bank
loan so that the property is refurbished. What about applying for a R2 million loan? Is that too much or
too little?