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Duties of a Managing Agent

  1. Operation of the Trust Account in terms of Section 32 of the Estate Agency Affairs Act, 1976 on behalf of the Body Corporate.
  2. Assisting the Board of Trustees in the determination of replacement values of improvements for insurance purposes and arranging of valuations where required.
  3. Arranging for the insurance of buildings and improvements and any other insurance the Body Corporate may require, and taking our Fidelity Guaranteed Insurance on behalf of the Body Corporate if required.
  4. Handling such insurance claims on behalf of the Body Corporate, provided that the Managing Agent arranged such insurance on behalf of the Body Corporate.
  5. Executing specific instructions from the Trustees of the Body Corporate in connection with the enforcement of the Rules governing the Body Corporate.
  6. Assisting and advising the Board of Trustees on the maintenance of the common property when so requested. If the Trustees require periodic inspection of the complex, the Managing Agent will recommend a suitable professional firm or professional person to do so, at the cost of the Body Corporate.
  7. outside contractors to do certain work or perform certain services on behalf of the Body Corporate.
  8. The collection and receipt of levies and / or other income due to the Body Corporate as instructed by the Trustees.
  9. Verification and payment of all accounts payable by the Body Corporate from available funds as per estimation of expenditure budget. All other payments will first be referred to the Board of Trustees for approval.
  10. Payment of salaries, wages, PAYE, RSC Levies, Administration Board Levies, UIF and Workmen’s Compensation on the dates and in the manner determined by the Managing Agent.
  11. Attending to the collection of arrear levies and taking legal action where necessary on instructions from the Trustees.
  12. Preparation of monthly arrear reports and submission to the Board of Trustees if required.
  13. Arranging and attending the Annual General Meeting, taking the minutes of the meeting, drafting and typing the minutes and dispatching the minutes to all Body Corporate members.
  14. Storing the Minutes Books, attendance registers, the register of sectional bondholders, sectional plans, rules, house rules, insurance policies and all other permanent records of the Body Corporate.
  15. Assisting and advising the Board of Trustees on procedural matters such as general meetings, Special General Meetings, Annual General Meetings, Quorums, Proxies, Resolutions, Voting rights, etc.
  16. Attending to Proxies, Nominations, Agendas, etc.
  17. Records shall be kept in accordance with the generally accepted practice including storage of information on microfilm with the consent of the Auditor of the Body Corporate.
  18. The preparation of an annual estimation of income and expenditure for submission to the Board of Trustees and the Body Corporate for approval and determination of monthly levies.
  19. Periodic review of the estimation of income and expenditure.
  20. Arranging the annual audit with the Auditor of the Body Corporate and on completion, submission of the audited financial statements to the members of the Body Corporate. As consideration for the performance of its duties in terms of paragraph 1 to 13 above the Managing Agent shall be entitled to the remuneration stated in paragraph C1 of Annexure C1 hereof.
    1. acting as the Public Officer of the Body Corporate only for tax purposes;
    2. preparing and submitting the annual Income Tax Return (IT14) ;
    3. preparing and submitting the Provisional Tax Returns ;
    4. checking Tax Assessment received from the Receiver of Revenue;
    5. dealing with all queries from the Receiver of Revenue.

Directors: Mr. L. Birkenstock (CEO) & Ms. S. Phetla

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