New Year’s Day is the most popular time of the year for people to hit the proverbial ‘reset button’. Some resolve to live healthier, while others hope to spend more time with family and friends. But what is the most important New Year’s Resolution Scheme Executives, or Trustees, can make?
When it comes to Sectional Title Schemes, even the most basic concepts are still widely misunderstood, starting with the Body Corporate and how it is formed, as well as its functions and powers. This misperception frequently leads to numerous problems and disagreements in Sectional Title Schemes that may have been easily avoided.
Scheme Executives, together with an appointed Sectional title managing agent, are essentially charged with managing the day-to-day running of the Sectional Title Scheme, or complex.
The role of trustees within a body corporate is an important one and one that is beneficial to the wellbeing of the scheme. A good board of trustees will be able to ensure that the scheme yields positive financials whilst at the same time runs effectively and smoothly keeping tenants and owners happy.
“Undergoing professional Scheme Executive Training can clarify the roles and responsibilities of the Body Corporate, the Trustees and the Sectional title managing agent and is something a sectional title property owner should consider,” says Pearl Scheltema, CEO of Fitzanne Estates. “The best New Year’s resolution a Scheme Executive can make is to undergo Scheme Executive Training.”
The advantage of being in the know
Trustees must always make decisions that are fair and reasonable, and never in their personal best interests, regardless of the situation. Trustees that are well-informed and educated are better able to make sound judgments that are compliant with regulatory regulations. They are better prepared to cope with difficult scheme challenges and can rely on the expertise they gained during workshops or Trustee training courses.
Trustees can set realistic expectations for owners and establish a fair service baseline for their Sectional title managing agent if they are competent. As a result, when the Sectional title managing agent is effectively managed and understands what is expected of them, they will perform better. The Sectional title managing agent is also aware that the Trustees are accepting responsibility for their role in the scheme’s management and that they do not expect the Sectional title managing agent to do everything.
The only way to become a well-informed trustee is to have the desire to do so, as well as the time and resources to attend workshops and trustee training courses.
It is therefore important for newly appointed Scheme Executives to invest in Scheme Executive training. Comprehensive training will ensure that you are able to fulfil your duties and responsibilities as expected and make a success of it!