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Get essential administration and resolutions in place at the first trustee meeting

The first trustee meeting following an AGM is an excellent time to ensure the important resolutions listed below are recorded, in place and aware to all the trustees.

administration resolutions

Valid resolutions should be signed by at least 2 trustees and placed in a minute book for safe and accessible record keeping. An electronic document management archive is also highly recommended for important sectional title legal and governance documentation.

  • Resolution recording levies are due by the 1st of each month in advance
  • Interest resolution stipulating the applicable interest rate charged on arrear levies (interest on arrear levies accrues to the body corporate)
  • Handover resolution: standing instruction for the managing agent to hand over arrear levy accounts typically after 2 months in arrears
  • Resolution stipulating the pro rata levy payment responsibilities in the event a unit is sold during the financial year

The trustees should review for awareness to achieve a common understanding any other resolutions which apply to the body corporate for which they will be accountable for implementation.

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Trafalgar Property Management

Trafalgar is a specialised property management service provider with a 50-year track record of comprehensive property management services supported across South Africa. Trafalgar’s vision is to add value to our client’s lifestyles and property wealth through the delivery of comprehensive and tailored property management services, matched to all property types.

Trafalgar is fully registered and in good standing with the Property Practitioners Regulatory Authority, the Council for Debt Collectors and National Association of Managing Agents, as relevant industry regulators and industry bodies respectively.

Experienced staff, specialized systems and a national footprint across South Africa with world class service standards as a guiding objective differentiate Trafalgar in the market.

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