namibiarealestate.com - The online guide to properties in Namibia and South Africa: Duties of a managing agent

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Duties of a managing agent

ADMINISTRATION DUTIES

1) Operation of a current and/or savings account with a Bank or Building Society, on behalf of a Body Corporate.

2) Assisting the trustees in the determining of replacement values of the improvements for insurance purposes and arranging for valuations where required.

3) Arranging for the insurance of buildings and improvements and any other insurance the Body Corporate may require.

4) Handling insurance claims on behalf of the Body Corporate in regard to the common property.

5) Assisting and advice the trustees on the enforcement of the rules adopted by the Body Corporate on specific instructions from the Body Corporate

Negotiate on behalf of the trustees with:

1) Outside contractors to do maintenance work and perform services excluding work on initial improvements.

2) The collection/receipt of levies and other income due to the Body Corporate as advised by the trustees.

3) Verification and payment from available funds of accounts payable by the Body Corporate.

4) Payment of salaries, wages, unemployment insurance fund, workmen’s compensation and regional service levies on the date and in the manner determined by the Managing Agent.

5) Attending to the collection of arrears.

6) Exercising reasonable credit control being the work involved in the collection of arrear levies up to the point of commencement of legislation.

7) Preparation of monthly arrear reports and submission if required to the trustees.

SECRETARIAL DUTIES

1) Arranging the Annual General Meeting and by agreement quarterly meetings of the trustees.

2) Attending quarterly Trustee Meetings by arrangement, but not exceeding 2 hours in duration.

3) Storing the minute books, attendance registers, the registers of sectional bondholders, sectional plans, rules, house rules, insurance policies and all other permanent record of the Body Corporate.

4) Assisting and advising the trustees on procedural matters such as general meetings, special general meetings, quorums, proxies, resolutions, voting rights, etc.

5) Attending to proxies, nominations, agendas, etc.

6) Preparing and dispatching notices as regulated by the Act and the Schedule 1 Rules.

Records shall be kept in accordance with generally accepted practice.

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