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Legal or not?

By Johannes van Rensburg on Thu, 01 Mar 2012 at 10:27

Good day all,

My question is, a person was unfortunately retrenched from work. (Feel sorry for him.) He is now working for an "atorney's" firm who provide MA services to +/- 55 Complexes.

The "retrenched" person is now employed to manage around 30 Complexes for the atorney. To my knowledge he has completed no ST training.

Is it legal to work as an MA without the required qualifications?



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RE: Legal or not?

John Yates replied on Thu, 01 Mar 2012 at 11:02

Yes it is legal. There is nothing in the S/T Act that prescribes any qualifications for a MA. There are other stipulations by the EAAB if the agent collects levies or is a member of the NAMA. There are Codes of Conduct in both cases that regulate the activities of the MA. However it is interesting to note that an agent is not bound by the stipulations S/T Act unless this requirement is written into the mandatory contract that must be established between a body corporate and the agent.

RE: Legal or not?

Myburgh Brink replied on Thu, 01 Mar 2012 at 11:05

Currently, to my knowledge, there are no formal qualifications required to be an MA only.

RE: RE: Legal or not?

Alan Barr replied on Thu, 01 Mar 2012 at 12:08

if the firm collects levies then they must be registered with the EAAB as an estate agent. the pricipal must have a minimum qualification of a NQF 5

As the firm is "attorneys" perhaps the levies are being paid into the attorneys trust account.

RE: RE: RE: Legal or not?

Gerhard Bezuidenhout replied on Thu, 01 Mar 2012 at 12:19

My info is that the attorneys per se are not required to register with the EAAB if they operate under their legal practice.

It is highly probable that they operate under an agency for the purposes of managing the schemes, in which case they will be required to register, obtain a fidelity fund certificate, and even register this operator as an estate agent, in which instance the operator will at least gain some "knowledge" of the industry he is working in....Show More

RE: Legal or not?

Johannes van Rensburg replied on Fri, 02 Mar 2012 at 18:22

Really sad that MA's can get away without training. No wonder some Complexes managed by an MA is in chaos.

Baie dankie vir alle terugvoer.

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