• Full financial management handling of the finances of the body
    corporate and ensure smooth operations.
  • This will include, but not be limited to:
    • Sending Statements & Collection of levies
    • Paying accounts on behalf of the body corporate
    • Handing over arrears accounts to CSOS or attorney
    • Compiling and sending out monthly trustees packs with income
      and expenditure reports, comparison to budget expenditure, and
      recon recoveries to COJ expenses
  • Obtaining quotations and agreements with contractors on behalf of the trustees.
  • Assisting with the 10 year maintenance repair and replacement plan.
  • Making sure the body corporates are adequately insured at all times.
  • Assist trustees in obtaining valuations for the estate.
  • Handle all insurance claims that may arise
  • Advise on what can/cannot be claimed
  • We will always be available to arrange and or attend trustee’s meetings as and when requested/needed.
  • Preparation for AGM/SGM will be in advance and adequate notices will be sent out.
  • Detailed budgets will be drawn up and discussed with the trustees prior to the AGM.
  • All minutes will be provided within 7 days after every meeting.
  • Arrange for repairs, and maintenance of the common property, when instructed by the Members of the Body Corporate or the Trustees.
  • Negotiate quotations with professional firms and outside contractors for specific work to be done, when so instructed by the Members of the Body
    Corporate or by the Trustees.

Payments

The Managing Agent undertakes to pay salaries, wages, PAYE, UIF, and Workmen’s Compensation.

Labour Legislation

The Managing Agent, when so instructed by the Trustees, will negotiate with
professionals / outside firms or provide written reference from relevant
controlling bodies (such as the CCMA) relative to labour legislation advice, at
prevailing rates.

Employees’ Service Contracts

The Managing Agent will assist, if required, in providing service contracts in
accordance with the current Labour Relations Act, advice on the disciplinary
codes and agreement procedures as well as the conduct of disciplinary hearings, at prevailing rates.

  • Maintain the statutory records, minute books, attendance registers, register of sectional bondholders, sectional
  • plans, rules, insurance policies, and all other records and files pertaining to the Body Corporate;
  • Draft and dispatch of circulars, notices, agendas, proxies, and nomination forms for General Meetings of owners;
  • Draft and dispatch notices for meetings of the Trustees;
  • Attendance at the Annual General Meeting of the Body Corporate;
  • Attendance at the meetings of the Trustees, as and when requested.
  • Attendance at Special General Meetings of the Body Corporate.
  • Keeping proper minutes of the meetings attended by the Managing Agent, and dispatching copies to all persons entitled to receive such minutes.
  • Arrange venues for meetings.
  • Assist and advise the Trustees on procedural matters, such as general meetings, special general meetings, quorums, proxies, resolutions, voting rights, amendments to Rules, and the statutory requirements of the STSMA
  • Furnish the Chairperson of the Trustees with copies of correspondence done on their behalf;
  • Assist in the enforcement of the Rules adopted by the Body Corporate, as the Managing Agent may be instructed by the Trustees from time to time.

The Managing Agent will assist the Trustees on replacement values of buildings /improvements for insurance purposes and arrange for valuations by suitable professionals when requested by the Trustees and at prevailing rates.

Assist in the enforcement of the Rules of the Body Corporate, when so required by the trustees.

  • The Managing Agent acknowledges that it has acquainted itself with the provisions of the Management and Conduct Rules adopted by the Body Corporate, and will similarly do so in respect of further amended or other
    Rules as the Body Corporate may adopt from time to time, and shall abide by the reasonable requests or instructions of the holders of registered Sectional Mortgage Bonds over at least 25% (twenty-five percent) of the sections of the scheme in so far as its obligations and duties imposed herein are concerned.
  • The Managing Agent will charge a fee for all letters written on behalf of the Trustees/Body Corporate for the enforcement of the Rules, the cost of which may, at the instruction of the Trustees, be debited to the errant
    owner’s levy account.
  • The Managing Agent shall be entitled on behalf of and for the account of the Body Corporate to pay or recover all bona fide expenses incurred by or on behalf of the Body Corporate.
  • The Body Corporate indemnifies the Managing Agent of all and any accountability of whatever kind following inability to settle any expense incurred by the Body Corporate due to insufficient funds in the Body Corporate’s bank account/s.

The Managing Agent shall keep full records of their administration and shall report to the Body Corporate and to all holders of registered sectional mortgage bonds, all matters which, in their opinion, will detrimentally affect the value or amenity of the common property and of any of the sections, as per the STSMA of 2011

  • Arrange for collection of the monthly levies and other income and also any other income or monies due to the Body Corporate.
  • Arrange for the preparation and delivery of statements on a monthly, quarterly, annual basis, or no statements at all, as decided and agreed by the Trustees. Statements can be e-mailed or posted.
  • The parties agree that the Managing Agent shall, on behalf of the Body Corporate, be entitled to instruct an attorney for any litigious matter pertaining to the collection of outstanding levies following an instruction from the Trustees on any relevant issue.
  • Attorney’s fees shall be payable by the Body Corporate on demand, all administrative charges incurred by the Managing Agent shall also be payable by the Body Corporate on demand. All fees/charges may be recovered from the defaulting owner where relevant.
  • The Managing Agent shall be entitled at any stage to deduct any amount due and outstanding by the Body Corporate with respect to legal fees from any monies held in trust on behalf of the Body Corporate.
  • The Managing Agent will be responsible to exercise credit control timeously in order to recover all amounts owing by owners to the Body Corporate.
  • The Managing Agent shall act in terms of current legislation as pertaining to the Debt Collectors Act.
  • The Managing Agent will raise compounded interest on arrear levies at such rate as determined by the Trustees from time to time, to be credited to the account of the Body Corporate.
  • Pay all expenses incurred in the administration of the Body Corporate, as instructed by the Trustees.
  • Process all payments and receipts.
  • Prepare and submit to the Trustees monthly statement of receipts and expenditure, supported by copies of vouchers where these have been specifically requested by the Trustees, and including an analysis of debtors’ balances and a comparison to monthly budget.
  • Arrange the annual audit with the auditor/accounting officer appointed by the Body Corporate. On completion of the audit submit the draft audited statements to the Trustees for approval/signature and thereafter to the Members of the Body Corporate for consideration at the
    Annual General Meeting.
  • Prepare an annual estimate of income and expenditure for submission to the Trustees and the Body Corporate, for their amendment/approval and the determination of monthly levies.
  • Manage surplus funds after payment of creditors in terms of current legislation.
  • Attend to the requirements of the South African Revenue Service and all statutory equirements, at the prevailing rates.