Website Kwacha Pension Trust Fund
KWACHA PENSION TRUST FUND
REQUEST FOR PROPOSALS – PROPERTY MANAGEMENT SERVICES
1) Background
Kwacha Pension Trust Fund (“KPTF” or “the Fund”) is a single employer pension fund and is regulated by the Pensions and Insurance Authority (“PIA”).
KPTF owns Stand No. 37605 (“Kwacha Square”) located on Lake Road, Ibex Hill, Lusaka; Stand No. 4604 (“Kwacha Pension House”) located on Tito Road, Rhodes Park, Lusaka and Stand Nos. 5402 and 5403 (“Independence Flats”) located on Nasser Road, Fairview, Lusaka.
Description of Properties
Kwacha Square: The property is situated approximately 9.6km east of Lusaka’s Central Business District. It has two commercial buildings comprising an office building and a retail building sitting on a land extent of 2.5 acres. The office section is paved with concrete bricks while the retail area is tarred.
Kwacha Pension House: The commercial property is developed with a 4-storey office building and underground basement parking bays.
Independence Flats: The property is a residential housing complex comprising 2,3 and 4 bedroomed apartments totalling 29 units. It is situated approximately 1.0 km from the Central Business District.
Scope of Services
The Fund wishes to engage a Property Management Company (the Company) to provide property management services for the foresaid properties.
Terms of References
The Company will be responsible for efficiently managing the daily operations of the properties and will be expected to provide the following services:
a) Leasing: This includes marketing of vacant space to achieve target occupancy rates, managing the onboarding process for new tenants, managing the lease renewal, lease termination process and enforcement of leases;
b) Management and Supervision of Service Level Agreements (SLAs): This involves SLAs related to the management of the properties including among others cleaning, air conditioning, landscaping, security, generators, lifts and refuse collection;
c) Utility Management: prevent discontinuation of services and resolve matters relating to services such as electricity, water and sewerage;
d) Maintenance: coordination and/or supervision of renovation and maintenance works, ensuring that the properties are well maintained at all times and timely resolution of tenant complaints;
e) Invoicing and Receipting: ensure that invoices and receipts are delivered on time. The Company will also be expected to employ strategies to ensure that rentals are paid timely;
f) Arrears: follow up on arrears including legacy arrears for tenants occupying the premises, list defaulting tenants on the Credit Reference Bureau (CRB) as well as issuance of demand letters and lease termination letters, if need arises, providing recommendations for commencement of litigation/ handover to debt collectors and initiating eviction proceedings;
g) Financial Planning: this involves collecting rentals, paying bills, forecasting and providing input into the annual budgeting process, scheduling expenses, managing budgets for repairs and maintenance costs and other property running expenses, analysing any variances, and initiating corrective action;
h) Record Keeping: Maintaining records of income, expenses, signed leases, complaints, maintenance;
i) Market Information and Reporting: provide regular reports to the Fund on the investment performance of the properties and provide relevant market entail including exploring value-add opportunities and options to optimise and/or increase returns, and
j) Relationship Management: liaise with tenants and handle any complaints promptly.
2) REQUIREMENTS
Bidders will have to provide/demonstrate the following:-
1) Company Profile;
2) Physical operational premises;
3) Certificate of Incorporation/Registration;
4) Membership with the Zambia Institute of Estate Agents;
5) Valid Zambia Revenue Authority Tax Clearance Certificate for 2022;
6) Valid VAT registration certificate;
7) PACRA Stamped form II (with details of directors/shareholders);
8) Qualifications and experience of the senior management team and the team that will be assigned to the Fund;
9) Recent reference letters (not more than three (3) years old) from at least three (3) reputable institutions the firm has rendered similar services to;
10) The Company should have a minimum of three (3) years’ experience in the provision of Property Management services in Zambia;
11) Demonstrated evidence of working knowledge of property regulations;
12) Bid validity period of at least 90 days from the date of quotation, and
13) The fee quotation which should be inclusive of Value Added Tax.
EOIs in sealed envelopes clearly marked “Property Management Services –Kwacha Pension Trust Fund” should be delivered at the address indicated below.
The Director
Kwacha Pension Trust Fund
Stand No. 5534, Cnr Kakola/Libala Roads
Kalundu, Lusaka.
The closing date for the receipt of EOIs is 12th September 2022 at 16:30 hours.
No EOIs that will be submitted after the closing date shall be considered.
Electronic EOIs will not be considered.
Queries regarding this expression of interest should be sent to the following email addresses:
THE FUND RESERVES THE RIGHT TO DISCONTINUE THE PROCESS WITHOUT ANY RECOURSE TO THE PARTICIPANTS