The Ekubo Homeowners Association , referred to as EHOA, is a registered Non Profit Company (NPC) whose operation is legally bound by its Memorandum of Incorporation (MOI). Being a Non Profit Company, EHOA does not have a share capital, it does not pay dividends and it does not distribute assets to its members.
The Memorandum of Incorporation lays down all definitions, procedures and regulations regarding the management of Ekubo Coastal Estate.
Ekubo Coastal Estate is still deemed to be in the development phase (‘that period from the establishment of the Association to the construction of 300 units’), and as such (4) four directors are nominated by the developer. The number of Directors of the EHOA Board shall be not less than 4 (four) nor no more than 7 (seven).
The directors of the EHOA Board (comprising developers, professionals and property owners) manage the Association.
Ekubo Coastal Estate is run by its own management and has a full time Estate Director and staff. All purchasers (owners) are obligatory members of the Association whose offices are located at the Ekubo north gate entrance.
The EHOA (Ekubo Eco Estate Homeowners Association) Board of Directors together with a committee of professional environmentalists, architects and engineers are responsible for administering the guidelines for building and landscape development on the Estate, and for ensuring that contractors comply with development manuals and relevant site protocols. This is in support of the developers vision for Ekubo Coastal Estate, which is:
To maintain a secure tranquil environment of enduring quality and excellence
Implementation of the architectural language of the Estate, ensuring the character of Estate remains unique
To preserve and nurture an overall Conservation Plan which takes into cognisance preservation of the Estate’s eco system
That the Estate be managed, administered and maintained for the benefit of all members.
Membership of Ekubo Eco Estate Homeowners Association is mandatory for all purchasers of residential property, vacant land or any other development. Membership cannot be resigned. When any property is to be sold, EHOA must be advised within 7 days of any sale. Transfer may not take place without EHOA issuing a Consent to Transfer Certificate. In the case of the sale of a member’s interest in a closed corporation (cc) or shares in a company or beneficial interest in a trust, the owners must also advise EHOA of the sale within 7 days. Failure to do so can delay the transfer of the property.
In the case of sectional title developments, the respective Body Corporate will request a specific levy, in addition to the EHOA levy, to cover the costs applicable to that particular development. This will typically include such items as garden maintenance, exterior painting, water and electricity for common areas, insurance of the buildings, wages of any staff employment, etc
All levy monies are required timeously to meet EHOA’s obligations. Late receipt of payments is detrimental to the financial interests of the Association’s members and therefore, any arrear levy bears interest. Arrear levy accounts over 30 days are handed over to EHOA’;s attorneys and will accrue legal costs.
If members, contractors or service providers fail to comply with the rules, the Board has the right to impose financial penalties. Fines, where imposed on owners, shall be deemed to be part of the levy due by the owner.
- Contravention of Estate Rules by “Others”
Any contravention of the Estate Rules by any person who gains access to the Estate under the authorisation of a member shall be deemed to be a contravention by the member.
Contravention of the Estate Rules by Contractors, Sub-Contractors or any Service Provider will also make them liable to fines and may jeopardise the company’s/individual’s continuance of business activities on the Estate.
Members shall be responsible for the actions and behaviour as well as the compliance with all rules and security procedures of all visitors who gain access to the Estate under their authorisation.
As required by the Associations Memorandum of Incorporation, a Finance Committee, appointed by the Board, shall establish and maintain a levy fund sufficient in its opinion for the control, management, maintenance and administration of the Association, including the provision of security services for the Estate. Funds required to run and operate the Estate are estimated in advance for each year. The budget consists of all items of expenditure likely to be incurred in the control, management, administration, and provision of facilities for the Estate in general and in particular of its common property. The EHOA levy is determined by dividing the forecast expenditure by the total quantity of leviable units in the Estate. All levies are due and payable in advance on the first day of each calendar month.
The rules governing the payment of levies on fractional ownership properties differ from private single resiential sites. The levies applicable to and payable by the promoters of fractional properties within Ekubo are subject to change from time to time, and it remains the responsibility of each such promoter to familiarise himself with the current EHOA requirements.