Responsibilities of a Managing Agent

Responsibilities of a Managing Agent

Due to the fact that Trustees are volunteers, who take on the responsibility of managing the affairs of a Scheme on behalf of their fellow owners, it is often practical for them to employ the services of a Managing Agent, who is an expert in Sectional Title administration.

The responsibilities of a Managing Agent can vary, but are usually outlined in a formal memorandum of agreement between the Trustees and the Managing Agent. This document specifies the exact procedures and services which will be undertaken by the Managing Agent. At ANGOR, we take pride in the fact that we are able to offer our clients a number of unique services, which our competitors are unable to match.

The powers and functions of the Body Corporate and the Trustees contained in the Act, are merely entrusted to a Managing Agent. The Body Corporate and Trustees are therefore not absolved of their responsibilities. Their responsibilities, as specifically provided for in the Act, are thus carried out by the Managing Agent as delegated powers.

Some of the powers and duties entrusted to the Managing Agent include the power to collect contributions, to manage the bank accounts of the Body Corporate, to pay the expenses of the Body Corporate, fulfil any obligation towards public or local authorities, provide administrative services such as assisting in arranging meetings, etc.

The Managing Agent therefore does not step into the role of Trustee, but rather eases the administrative burden of the Trustees, as well as provide advice and guidance on compliance with legislation.

Ultimately, the Managing Agent takes instruction from the Trustees who retain, at all times, the responsibility to ensure that the Scheme is managed in an effective, compliant manner.

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