PROPERTY MANAGEMENT
Unfortunately , there is quite a bit of a disconnect between the public understanding of the difference between an Executive Management Agent and a Managing Agent as industry terms .
A Managing Agent is appointed to take care of the administration , finances , and secretarial duties of a Sectional Title Scheme in accordance with the terms of a contract . In this case , the Managing Agent is a service provider who is instructed by the Trustees as representatives of the Body Corporate . The
Trustees give instructions , and the Managing Agent fulfills it within the guidelines of a managing contract .
An Executive Management Agent , on the other hand , is typically appointed by way of a special resolution and can be recommended by CSOS from their panel of preapproved EMAs .
An Executive Management Agent has nothing to do with a Managing Agent at all . While there is a widespread misconception that these two roles are interchangeable and that you can employ one instead of the other ,
70 NOV 2022 SA Real Estate Investor Magazine