Trustee Duties 101 – A Simple Guide for Newly Elected Trustees
Elected as a Trustee in your Sectional Title Scheme? Here’s a simplified guide to help you get started:
Key Responsibilities:
– Manage the finances and maintenance of the Scheme.
– Enforce the Conduct Rules fairly.
– Act in the best interests of all owners – not just your own.
What You Should Know:
– Trustees must act with fiduciary duty, meaning honesty, care, and loyalty.
– Regular meetings, sound decision-making, and keeping proper records are all part of the job.
– The Prescribed Management Rules (PMRs) outline your legal obligations.
Don’t stress — with professional support from ANGOR, your journey as a Trustee can be smooth and impactful. We’re here to guide you.
Exploring Sectional Title Law, how your Managing Agent can Help with Compliance