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Elaine Moonian Properties main business will be property management of body corporate, HOA�??s, retail and commercial. The plan is also to sell and rent properties in the future. The main duties involve: A. Administration �?� To open and operate a bank account in the name of the Association to meet the commitments of the Association. This includes managing any investments of the Association. �?� To compile and dispatch statements to each owner, on a monthly basis, displaying all current transactions. �?� To collect and receipt all levies and other amounts and income due to the Association. �?� To verify and pay rates, taxes, charges and any other expenditure whatsoever which may from time to time be payable by or chargeable to the Association as per the Expenditure Budget Estimation. �?� To pay all salaries and wages and all statutory deductions thereon, including PAYE, UIF and Workmen�??s. �?� To keep a list of Directors, owners and tenants as well as primary and utility sections, participation quotas and registered bondholders in terms of the Act. �?� To compile and distribute, to all Directors of the Association on a monthly basis, a management report which will include an income and expenditure statement (detailing actual versus budgeted figures), a balance sheet, a cash flow statement and any supplementary schedules which the Directors may require, ie. a monthly arrears report. �?� To keep full and proper books of account and records in accordance with standard accounting principles showing clearly all revenue, expenditure, transactions and proceedings relating to the Association. �?� To make and sign applications to the appropriate government department/s and/or local authority/ies for all and any licenses, permissions and consents required by any Act, Regulation or By-Law in connection with the management of the Association. �?� To dispatch to the owners any Notices in terms of the Act. �?� To demand and recover from all past and present owners of sections, all levies and other sums payable by them, and to take all necessary steps, whether by legal action or otherwise, in which case they may instruct attorneys of their choice to institute legal proceedings, agree fees with such attorneys and furnish all instructions to the attorneys, to recover any levies or sums in arrears as well as to make payment to such attorneys. �?� The Directors have signed the mandate attached as Annexure �??C�?� giving the Managing Agent permission to sign the necessary tri-partite clearance certificate agreement on behalf of the Association and be remunerated for such certificate. �?� To carry out specific instructions from the Directors in connection with enforcing the Rules and other Compliance Documentation of the Association. �?� If required by the Act and/or directed by the Directors, to assist the Association in establishing and maintaining a reserve fund for the cost of future maintenance and repair to the common property as well as to open a separate bank account for such fund and if instructed to invest such monies. In addition to prepare a budget and financial statements for such reserve fund. Lastly to assist the Association when necessary to make payments out of the reserve fund. �?� To make all the books of account, records and documents of the Association available for inspection and copying by an owner. �?� To ensure that the Association�??s books of account and financial records are retained for a period of 6 years. B. Insurance �?� To provide for the insurance needs of the Association and more specifically: o To arrange and annually renew, with the assistance of a broker, if necessary, all the insurance requirements of the Act and the Regulations to the Act; o To arrange and annually renew with the assistance of a broker, if necessary, insurance against such other risks as the owners may, in terms of the Articles of Association determine; o To arrange and report, with the assistance of a broker, on valuations and replacement values, for insurance purposes, of the common property and each unit, if applicable, as and when required; o To obtain a fidelity guarantee if decided by the members of the Association; o To submit and follow through to completion any insurance claims on behalf of the Association. C. Maintenance �?� To assist and advise the Directors on the maintenance of the common property and the major capital items. If the Directors require periodic inspections of the buildings, the Managing Agents will recommend a suitable professional firm to do so, at the cost of the Association. �?� If required by the Act and/or directed by the Directors, to prepare annually, a written maintenance, repair and replacement plan for the common property for approval by the owners in a general meeting. �?� To negotiate, on behalf of the Directors, 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 contrac
