Executive Managing Agent (EMA)

An Executive Managing Agent can be appointed instead of trustees to manage a block. This could occur when no individuals are willing to act as trustees or when there is conflict amongst the owners.

The Executive Managing Agent's responsibility is to carry out the duties of the Trustees, as outlined by the Sectional Title Schemes Management Act and detailed in Prescribed Management Rule 28 of the Act.

The Act allows for appointing an Executive Managing Agent upon approval by a Special Resolution of the scheme's members.

The Executive Managing Agent is responsible for:

  1. All the duties and obligations of a trustee under the Act and the scheme's rules.
  2. Managing the scheme with the required professional level of skill and care.
  3. Liability for any loss suffered by the body corporate as a result of not applying such skill and care.
  4. Having a fiduciary obligation to every member of the body corporate.
  5. Ensuring arrangement for the inspection of the common property at least every six months and must report at least every four months to every member of the body corporate on the administration of the scheme.

The basic report of an executive managing agent includes the following details:

  1. The proposed repairs and maintenance of the common property and assets of the body corporate within the next four months.
  2. Matters the Executive Managing Agent considers relevant to the condition of the common property and the assets of the body corporate.
  3. The balance of each of the administrative and reserve funds of the body corporate on the date of the report and a reconciliation statement for each fund.
  4. The balance of each of the administrative and reserve funds of the body corporate on the date of the report for the period since the appointment of the executive managing agent or from the date of the last report.
  5. A breakdown of the expenses of the body corporate, including property repair, maintenance and replacement costs.
  6. A brief description of the date and nature of all decisions made by the executive managing agent.

Sandak-Lewin Trust’s Executive Managing Agents pride ourselves in providing these services to our high professional service levels. Contact us for more information.