The most important duties of Trustees are summarised in Management Rule 28 of the Sectional Titles Act No 95 of 1986.
When you buy into a Sectional Title Scheme you become a member of the Body Corporate or Homeowners Association. The Body Corporate or Homeowners Association then appoints Trustees or Directors who in turn appoint managing agents who assist the trustees to administer the scheme.
The trustees are responsible for managing and controlling the common property and ensuring that the conduct rules are adhered to at all times. The trustees are also responsible for ensuring that the managing agents carry out the administrative functions correctly in accordance with the conduct rules.
The administrative functions that managing agents typically carry out include, but are not limited to:
- Arrange Annual General Meetings
- Ensure payment of expenses for the body corporate e.g., City of Joburg, Eskom, contractors etc.
- Invoice and collect levy contributions from owners and manage any arrears
- Arrange for meter reading (where required)
- Ensure that the buildings are adequately insured
- Arrange for contractors to carry out maintenance work in accordance with the trustees’ requests.
We will obtain the best quote for the service required.
TLOK Accountants assist in the management of various office parks.
We specialise in the maintenance of the buildings, painting, wear and tear, maintenance of electric fences, changing light bulbs, overseeing contractors, and resolving various municipal account issues.
We additionally ensure that all statutory requirements are met, such as ensuring that tax returns are up to date and financial statements are compiled annually.
We pride ourselves in providing excellent service and ensuring that owners, trustees and members alike are always happy.