"Trustees have a fiduciary responsibility and automatically accept this responsibility when agreeing to their appointment to the Body Corporate. Consensus estimates are that up to 50% of all schemes are in some form of financial or administrative disarray, indicating that many trustees are blissfully unaware of the onerous nature of their responsibility.

"Sectional title continues to be the fastest growing form of property ownership with more than 30 000 schemes or approximately 600 000 units already in existence.

"Trustees play a vital role in the efficient administration of these schemes and are largely responsible for doing everything possible to preserve and maintain the market value of each individual's investment.

"Body corporates should be run along strict business lines, no different from any other organisation operated for gain," said Gatz. This included internal controls for the management of funds.
"Trustees are elected and may be dismissed by members; and must heed the limitations and instructions imposed by the members. All their actions are subject to the Sectional Titles Act No. 95 of 1986 as amended and Rules.

"Trustees must always maintain the utmost good faith in all their actions. They are elected to serve the Body Corporate and to act in the best interests of the owners in general and not promote their private interests."