WHY APPOINT AN EXECUTIVE MANAGING AGENT (EMA)?
Being a Trustee in a scheme is a time-consuming, often thankless job and requires hours of meetings and engagements, mostly without remuneration. Owners need to realise that administering a scheme from a trustee point of view, is much like running a business and deserves a similar level of care and skill, given schemes comprise of millions of Rands in asset values.
Not all Owners want to be Trustee and not all Owners have the time to give the scheme the attention it needs, as important decisions need to be made on a daily basis.
An EMA is therefore arguably a ‘no-brainer’ for many schemes who are struggling to get volunteer Trustees. They have the know-how and practical experience to assist schemes with what would sometimes be difficult for volunteer Trustees to do.Notably EMA’s perform their functions as the ‘Trustees’ of a scheme without indemnification that the Act affords conventional Trustees.
While the modus operandi of EMA’s may differ from scheme to scheme, based on the nature of the trustee involved and the type of property, it makes sense for the EMA to work closely with those ‘on the ground’ in a way that’s best for the scheme. For example the EMA would work with the Gardening or Maintenance Committees, harnessing the passion
and interests of trustees/ owners who want to continue to be involved in the running of the scheme, in the areas that they have the time and interest in.
With a wealth of experience and expertise ZDFin is a specialist finance company providing smart solutions for all residential Community Schemes affected by the Community Ombud Service Act, including non-profit companies and voluntary associations governed by a constitution. ZDfin’s hands-on management style, is the perfect partner for all property and financial matters pertaining to Sectional Title Bodies Corporate, Home Owners’ Associations and Share Block companies.
FOR MEDIA ENQUIRIES:
Joanne Hayes, Tumbleweed Communications
Tel: +27 (0)83 6277249 e-mail: tigerjo@iafrica.com
