Administrative – The Managing Agent
Bank Account/Payments
- Operate a bank account with a bank, on behalf of the Body Corporate/ HOA and an on-line Internet banking service, provided the Trustees have complied with the correct resolutions.
- Attend to the opening of any bank accounts i.e. savings, current or investment accounts as required by the Body Corporate /HOA from time to time.
- Be entitled to verify and make payment of all accounts payable and expenses incurred by the Body Corporate/ HOA on a monthly basis from funds available.
- Make payment of salaries, wages, PAYE, UIF and Workmen’s Compensation and any such other payments as may be required by the Body Corporate / HOA or other Legal Institution on a monthly basis, should we appointed as public officer.
Insurance
- Arrange for the Insurance of the buildings and improvements and for any other insurance the Body Corporate/ HOA may require, when so requested by the Trustees.
- Assist the Trustees to establish replacement values of buildings and improvements for insurance purposes and arrange for valuations by qualified valuators on an annual basis if requested by the Trustees.
- Process and submit all insurance claims on behalf of the Body Corporate / HOA to their Insurance company/broker when notified.
- Pay the annual/monthly insurance premiums on behalf of the Body Corporate / HOA or arrange a monthly debit order if so required.
Levies
- Prepare monthly levy statements for the collection of levies and utility charges from owners as well as any other income due to the Body Corporate / HOA.
- Deposit all income from levies, etc received by the Managing Agent into the bank account of the Body Corporate/ HOA. Each scheme has a segregated bank account and there is no bucket trust account, offering greater protection to you.
- Raise interest on any levies in arrears on a monthly basis in terms of the credit policy of the Body Corporate / HOA as determined by the Trustees.
- Attend to the collection of levies in arrears of levies on a no-nonsense approach. All collection costs will be recovered from the errant owners directly and only once payment is made to the scheme, thereby ensuring cashflow is not prejudiced.
- Instruct an attorney to commence any legal action necessary pertaining to the collection of levies in arrears and notify owners of such action taken. Through our partners at Zenteq, qualified specialist attorneys will take over the case management of any legal matter your scheme is faced with.
- Matters handed over and dealt with, to CSOS (Community Scheme Ombud Service) will be at a cost of R350 per hour or part thereof. As an additional service.
General – The Managing Agent will:
- When so required by the Trustees assist in enforcing the Conduct and Management rules or the Constitution as adopted by the Body Corporate / HOA.
- Assist the Trustees with the determination of monthly levies and the preparation of the annual estimate of income and expenditure of the Body Corporate/ HOA and distribution thereof.
- Report to the Body Corporate / HOA the variances of the estimate vs. actual expenses on a quarterly basis.
- Be responsible for the administration of proper books of accounts in terms of generally accepted accounting principles as well as keeping the full records thereof.
- Arrange the annual audit of the Body Corporate’s / HOS’s books of accounting with the appointed Auditor and on completion of the audit submit the Audited Financial Statements to the members of the Body Corporate / HOA.
- On transfer of a section of the Body Corporate / HOA, attend to and provide transfer/clearance figures of levies outstanding to Conveyancing Attorneys and the issue of Clearance Certificates as required by Section 15 B (3) (a)(1)(aa) of the Sectional Titles Act of which the account will be for the seller and not for the Body Corporate / HOA.
Meetings – The Managing Agent will:
- GENERAL MEETINGS: Annually attend and take minutes of one (1) General Meeting. Should the Body Corporate/ HOA be situated outside of our local municipal area, travelling costs will apply.
- TRUSTEES MEETINGS: Annually attend three (3) Trustees Meetings by arrangement, but not exceeding two hours in duration. This can now be arranged via Skype, zoom or MS teams or conference call.
- SPECIAL GENERAL MEETING: Attend to the administration of any Special General Meeting of the Body Corporate / HOA as an additional service. Should the Body Corporate / HOAbe situated outside of our local municipal area, travelling costs will apply.
- Keep proper minutes of all attended meetings of the Body Corporate / HOA, when requested by the Trustees and distribute such minutes to all persons entitled to receive them.
- Attend to the arranging of venues for meetings if so required by the Trustees.
Secretarial – The Managing Agent will:
- Be responsible for the keeping of the records of the Minute books, attendance registers, sectional plans, Management Rules, Conduct Rules, insurance policies and all other permanent records of the Body Corporate/ HOA.
- Guide and advise the Trustees in accordance with the Sectional Titles Act or the Constitutions, whichever is relevant, regarding procedures such as general meetings, special general meetings, quorums, proxies, resolutions, voting rights, etc., and the rules governing the scheme.
- Draft and distribute notices to owners, agendas of meetings and attend to proxies and nomination forms for general meetings in conjunction with the trustees.
- Draft and distribute any letters to owners regarding applications, letters of complaint, etc. as instructed by the Trustees.
- After the Annual General Meeting, notify all owners of names, addresses and details of all elected Trustees for the ensuing year.
- In accordance with the current Labour Act assist the Trustees in compiling service contracts for all employees of the Body Corporate.
- Supply owners or prospective owners with information such as the Rules of the Scheme, Audited Financials etc as requested from time to time.
- Attend to any and all statutory requirements of the South African Receiver of Revenue Services at the prevailing rates.
Repairs and Maintenance – The Managing Agent will:
- Arrange on behalf of the Trustees if requested, outside contractors any maintenance work needed on the common property and submit quotes to the Trustees in respect thereof.
- Where a Caretaker or Estate Manager is employed by the Body Corporate, advise and guide such person in accordance with the Sectional Titles Act regarding all procedures pertaining to maintenance/repairs and upkeep of the common property.
Other Services – The Managing Agent will:
** (These services are available to the Body Corporate but are not included in the monthly management fee)
- Assist with the procedures to be followed in resolving disputes between the Body Corporate and owners in terms of the Community Schemes Ombud Service Act. At an hourly rate of R350.00 (ex VAT) per hour
- Where necessary, regarding any irregularities concerning the sectional plans of the Body Corporate, meet with the applicable Land Surveyors of the Scheme.
- Where necessary, meet with the Insurance assessors / underwriters for the scheme regarding any extraordinary insurance claims.
- Assist Trustees in the institution of any disciplinary proceedings against staff and attending such disciplinary hearings if required. Communicating with the Bargaining Council and respective unions of employees where applicable, at an hourly rate. With the assistance of a qualified professional. Additional costs
- All additional meetings are R350 (Ex Vat) per hour or part thereof.
- Attend to the registration of employees for any legal institutions such as UIF, Bargaining Council, Provident Fund, WCA, Skills Development Levy etc, where applicable, through an independent company. These costs will be borne by the BC as it is done by an independent bookkeeping firm
- Registration with CSOS or POPIA or any other institution
Should you have any further queries or require any further information please do not hesitate to contact us.
Yours faithfully,
LILIAN WALDECK | INSIMBI PROPERTY ADMINISTRATORS