Managing Agent for your Community Scheme
Community scheme management can be a daunting task for the trustees or directors responsible for managing the affairs of a complex or estate. The managing agent plays a crucial role in ensuring that the community scheme runs smoothly, efficiently and effectively. The managing agent is a professional service provider who is responsible for the day-to-day management of a community scheme on behalf of the trustees or directors.
Budgeting & Financial Statements
One of the key responsibilities of the managing agent is the annual budgeting process. The managing agent works closely with the trustees or directors to prepare a comprehensive budget that takes into account all the expenses and income of the community scheme. The budget is an important document that sets out the financial plan for the coming year and helps the trustees or directors to manage the scheme’s finances effectively.
Read: Managing Scheme Levies
The managing agent also plays a critical role in bookkeeping and keeping full and proper books of accounts and records. They assist with the annual preparation of financial statements and ensure that the community scheme is registered with all the required statutory bodies. In addition, the managing agent arranges the Annual General Meeting (AGM) and Special General Meetings (SGMs) and attends and minutes these meetings as well as trustee/director meetings.
Statutory and Secretarial Requirements
The managing agent also assists the complex or estate in complying with statutory requirements and arranges for the payment of employee salaries (PAYE), UIF, WCA, and SDL. They distribute payslips and arrange for the delivery of monthly levy statements. The managing agent also collects levies and manages arrears and advises on enforcing Conduct Rules.
Moreover, the managing agent sends letters on behalf of trustees, advises on complying with the Sectional Titles Act, Management Rules / Articles of Association, Memorandum of Incorporation, and arranges proper insurance over common property. Where required, the managing agent arranges meter reading for water, electricity, and gas meters and advises on maintenance projects and obtains quotes.
At ANGOR each building is managed by a Team
At ANGOR each building is managed by a reliable team with excellent knowledge of property management. The team ensures that the complex or estate is well maintained and that any issues are addressed promptly. The managing agent is a trusted partner who works closely with the trustees or directors to ensure that the community scheme is run efficiently and effectively. By taking care of the day-to-day management of the community scheme, the managing agent frees up the trustees or directors to focus on strategic decision-making and ensuring that the community scheme meets the needs of its residents.
In conclusion, the managing agent plays a critical role in community scheme management. They provide professional support and expertise to the trustees or directors, ensuring that the community scheme runs smoothly and efficiently. By delegating the day-to-day management to a managing agent, trustees or directors can focus on the strategic direction of the community scheme and ensure that it meets the needs of its residents.
The article was written by ANGOR Property Specialists with assistance from AI