In a quest towards transforming the Managing Agents sector, the Community Schemes Ombud Service (CSOS) is having continuous engagements with some of the big players in the industry. This has resulted in the formation of strategic collaborations between the organisation and a number of big Managing Agents.
Through these collaborations, Memoranda of Understanding have been signed with Pretor Group, MidCity Property Group, and Trafalgar Property Management, which is a huge milestone towards enhancing the economic participation of emerging Black Managing Agents.
“The Managing Agents industry remains misaligned to the demographic profile of the country in terms of adequate representation of historically disadvantaged managing agents. To this effect, the CSOS and the Department of Human Settlement have set out objectives for the transformation of the industry” said Chief Ombud, Adv Boyce Mkhize during the MOU signing ceremonies.
As part of the transformation, the CSOS is in a process of establishing a transformation fund to support the development of Black (Historically Disadvantaged) Managing Agents (BMAs) which will serve to fund the development programmes.
The signing of the MOUs with different managing agents will enable Established Executive Managing Agents (EEMAs) to provide mentorship, capacity development, internship, and other developmental initiatives to Historically Disadvantaged Managing Agents (HDMAs); sharing of established systems for the effective management of community schemes (both public and private); joint exploration of commercial opportunities for management of schemes in the private and public spaces; and refining opportunities for a mutually beneficial scheme for EEMAs as well as the HDMAs.