Test

1. Who are the members of the Homeowners’ Association (HOA)?
The Homeowners Association (HOA) consists of all the property owners (members) in the estate. Buyers agree to become members of the HOA when they sign the agreement of sale and become members of the HOA when their property registers in their names. It is compulsory.

2. What does the HOA do?
The HOA is responsible for general upkeep and maintenance of the estate and its common property (access control, security and security equipment, perimeter fence, parks, sidewalks). They appoint and manage service providers, e.g. garden services and security providers. They have to ensure that the residents adhere to the estate’s conduct rules and municipal by-laws and that owners keep to the estate’s design and aesthetic standards. Lastly, they manage the estate’s finances, by managing the budget and collecting compulsory members’ contributions (levies).

3. What is a Memorandum of Incorporation (MOI)?
The HOA is structured as a non-profit company (NPC). The Memorandum of Incorporation (MOI) is the constitution of this non-profit company. These rules govern the conduct of the company (such as meetings, voting rights, etc). The MOI also sets out the rights, duties, and responsibilities of its members and directors.

4. What are Leopard’s Rest’s conduct rules?
Conduct rules set out general guidelines to members for good neighbourly conduct. It is each owner’s responsibility to read, know and follow the estate’s conduct rules. Click on the Downloads menu option to view Leopard’s Rest’s conduct rules.

5. What does the Managing Agent do?
The Managing Agent is an independent contractor appointed by the HOA to help manage the finances (collection of levies and payment of bills), HOA meetings (arrange meetings, taking and distributing minutes) and general HOA administration.

6. What are levies and what are they used for?
Members’ compulsory monthly contributions towards the HOA funds are called levies. These collected levies belong to all the members of the HOA and may only be used for HOA expenses. Levies are determined by the annual budget as determined by all the members present at the annual general meeting (AGM). Special levies can be determined from time to time where unexpected expenses arise that were not budgeted for. Levies are payable on the first day of every month (no automatic grace period). If a member does not pay their levies on the first day of the month they will be in arrears. A collection process will begin and collection charges will apply.

7. Who manages the HOA?
The HOA is managed by a board of directors whose responsibilities are set out in the MOI. During the development period, the developer has the majority of directors on the HOA board, after which the developer exits completely and will no longer have directors on the board.

8. What happens at the HOA’s annual general meeting (AGM)?
An annual general meeting (AGM) is held once a year where the HOA directors report back to its members on the financial state of the HOA and to set the budget for the next 12 months. At the AGM appointments of service providers as well as directors are also confirmed.

9. When does the development period start and end?
The development period starts when the developer starts selling properties and ends when the developer has sold the last property in the estate. During the development period, the developer has the majority of directors on the HOA board as well as the majority votes at any HOA meeting.

1. Who are the members of the Homeowners’ Association (HOA)?
The Homeowners Association (HOA) consists of all the property owners (members) in the estate. Buyers agree to become members of the HOA when they sign the agreement of sale and become members of the HOA when their property registers in their names. It is compulsory.

2. What does the HOA do?
The HOA is responsible for general upkeep and maintenance of the estate and its common property (access control, security and security equipment, perimeter fence, parks, sidewalks). They appoint and manage service providers, e.g. garden services and security providers. They have to ensure that the residents adhere to the estate’s conduct rules and municipal by-laws and that owners keep to the estate’s design and aesthetic standards. Lastly, they manage the estate’s finances, by managing the budget and collecting compulsory members’ contributions (levies).

3. What is a Memorandum of Incorporation (MOI)?
The HOA is structured as a non-profit company (NPC). The Memorandum of Incorporation (MOI) is the constitution of this non-profit company. These rules govern the conduct of the company (such as meetings, voting rights, etc). The MOI also sets out the rights, duties, and responsibilities of its members and directors.

4. What are Leopard’s Rest’s conduct rules?
Conduct rules set out general guidelines to members for good neighbourly conduct. It is each owner’s responsibility to read, know and follow the estate’s conduct rules. Click on the Downloads menu option to view Leopard’s Rest’s conduct rules.

5. What does the Managing Agent do?
The Managing Agent is an independent contractor appointed by the HOA to help manage the finances (collection of levies and payment of bills), HOA meetings (arrange meetings, taking and distributing minutes) and general HOA administration.

6. What are levies and what are they used for?
Members’ compulsory monthly contributions towards the HOA funds are called levies. These collected levies belong to all the members of the HOA and may only be used for HOA expenses. Levies are determined by the annual budget as determined by all the members present at the annual general meeting (AGM). Special levies can be determined from time to time where unexpected expenses arise that were not budgeted for. Levies are payable on the first day of every month (no automatic grace period). If a member does not pay their levies on the first day of the month they will be in arrears. A collection process will begin and collection charges will apply.

7. Who manages the HOA?
The HOA is managed by a board of directors whose responsibilities are set out in the MOI. During the development period, the developer has the majority of directors on the HOA board, after which the developer exits completely and will no longer have directors on the board.

8. What happens at the HOA’s annual general meeting (AGM)?
An annual general meeting (AGM) is held once a year where the HOA directors report back to its members on the financial state of the HOA and to set the budget for the next 12 months. At the AGM appointments of service providers as well as directors are also confirmed.

9. When does the development period start and end?
The development period starts when the developer starts selling properties and ends when the developer has sold the last property in the estate. During the development period, the developer has the majority of directors on the HOA board as well as the majority votes at any HOA meeting.