FINANCIAL, ADMINISTRATION & MANAGEMENT INSPECTION ASSOCIATION Body Corporate-, or Homeowners Association compliance plaque & membership. FAMIA - Separating the vulnerable from the secure by means of visual accreditation of Complexes across South Africa; minimizing most critical risk related to Sectional-, fractional-or cluster type property ownership.
As a fiduciary appointee of the Body Corporate, it is imperative to familiarize yourself with the stipulations and boundaries of the legislation applicable. Financial-, Administrative-and Management status of any complex adversely impacts the investment interest of willing buyers and Mortgagees. As a Trustee appointed by the members, it is your duty to see to the collective-best interest of the complex; acting as the back-bone of the Body Corporate by providing satisfaction, stability and profitability of all stakeholders. As a trustee with personal-and often professional duties outside the Body Corporate, we understand how difficult it is to keep your fingers on critical changes that influence the overall status of a legal entity, while also seeing to the day-to-day needs of the complex. Continual change accompanied by general ineptitude with reference to this young industry has resulted in many property owners being left helpless, with nowhere to turn, and most often not having recourse to compensate for calculatable losses blamed on Trustees. Sufficient back up of supporting documents that will substantiate the basis of decision making if need be, is imperative to could pay dearly for efforts