FAQ: Services

WHAT IS THE RELATIONSHIP BETWEEN TRUSTEES & MANAGING AGENTS?

Many schemes have a shortage of volunteers because being a trustee can be incredibly time consuming for busy owners
Broken down relationships between existing trustees can be effectively mediated by a balanced and measured third party, allowing more time to focus on productive management
Some schemes have existing financial and maintenance issues which require more experience and expertise to manage than what the current trustees can provide

Managing agents take instruction from trustees, who make all final decisions.
They have a mandate to ensure that trustees fulfil their fiduciary duties and maintain the scheme’s financial health.
Managing agents and trustees collaborate on maintenance projects, compliance, financial management, and supporting other owners.
They help ensure that important information is communicated effectively to everyone involved in the scheme.
Managing agents support trustees in the smooth and efficient day-to-day running of the scheme.

WHAT IS THE RELATIONSHIP BETWEEN A PROFESSIONAL TRUSTEE & MANAGING AGENTS?

A professional trustee brings their expertise and experience to actively engage with managing agents and contractors, ensuring that service agreements are adhered to and that the quality of workmanship meets the required standards.
They assist trustees in making decisions that align with the Sectional Title Schemes Management Act, which provides the legal framework for their responsibilities.
Acting as an impartial third party, a professional trustee bridges the gap between the trustees and managing agents, ensuring that both parties fulfil their respective mandates efficiently and in accordance with the scheme’s needs.
With a deeper understanding of how managing agents operate, a professional trustee offers valuable insight to help the trustees work more effectively. Additionally, they ensure that managing agents receive clear and timely instructions, preventing delays and misunderstandings that could affect the scheme's operations.

All sectional title buildings must legally have a body corporate made up of trustees who act on behalf of all owners
Trustees are volunteers who are legally responsible for the all of the administration and legislation for the body corporate
Trustees have a fiduciary duty to the body corporate and must manage and account for how levies are collected and allocated towards all common property