• Monthly accounts in respect of levies and other charges payable by owners will be prepared and submitted to owners. Amounts due by owners will be collected via the debt collection process. Should it be necessary to refer the accounts of defaulting owners to the Body Corporate’s attorneys for recovery. The Property Practitioner will prior to taking such action obtain the authority of the Trustees. 

• All expenses incurred by the Body Corporate will be paid after approval by the Trustees nominated by the Body Corporate. 
• A detailed monthly business report of all monies collected and all payments made on behalf of the Body Corporate will be submitted to the Trustees monthly after the closure of the collection month together with a detailed statement reflecting the status of each owner’s levy account. 
• Surplus funds if not immediately required will be invested in concurrence with the Trustees in a suitable interest earning account with a registered banking institution. Such account will be held in the name of the Body Corporate. 
• All income collected on behalf of the Body Corporate will be deposited into a trust account held in terms of Section 32(1) of the Estate Agents Act (Act 112 of 1976). 

• We will attend meetings of Trustees once every quarter as well as the Annual General Meeting and any Special General Meetings as mandated by the Trustees. 

• The statutory records of the Body Corporate as also the accounting records will be kept in safe custody by the Property Practitioner. All records financial or administrative is hosted on the IT platform and personalised for the Body Corporate. 
• To assist and advise the Trustees as and when required regarding compliance with the relative legislation including the Municipal bylaws and regulations. 
• To keep a list of Trustees, members and tenants as well as primary and utility sections, participation quotas and registered bondholders in terms of the Act and will the information be available to the trustees on your live portal. 
• In line with the POPIA and PAIA compliance, the IT platform is externally audited and interactive with end users, providing an audit trail regarding any communication that was circulated, read, or transmitted on behalf of the scheme within a ring-fenced data management system. 

• The IT platform complies with the Financial Services Board accreditation as our system is integrated with Nedbank Business that sets stringent legal requirements for the management and reporting of financial transactions as all transactions are hosted and managed in a Trust account, supported with business reports which are compliant with international accounting standards. 

• We will compile and distribute to all Trustees of the Body Corporate monthly, a management report which will include an income and expenditure statement (detailing actual versus budgeted figures), a cash flow statement and any supplementary schedules which the Trustees may require, available on your live portal and can the trustees access all financial transaction daily. 
• The Body Corporate to provide a 10-year plan and upon instruction our practice will maintain a reserve fund for the cost of future maintenance and repair to the common property as well as to open a separate trust account for such fund and if instructed to invest such monies. 

• The Property Practitioner will: arrange and annually renew with the assistance of a broker.
• The Trustees will: Provide confirmation of the requisite insurance cover to the Property Practitioner in writing

To assist and advise the Trustees on the maintenance of the common property and the major capital items. If the Trustees require periodic inspections of the building, the Property Practitioner will recommend a suitable professional firm to do so, at the cost of the Body Corporate. To negotiate on behalf of the Trustees, with professional persons, firms, or other organisations, for the drawing up of specifications for maintenance and repair contracts pertaining to the common property; and outside contractors to do work or perform services on behalf of the Body Corporate.