Stratum Owners Association Management services will ensure full compliance with all requirements under Law No. 27 concerning ownership of Jointly Owned Property.
Owners Association Establishment
- Assist legal consultants with the drafting of management agreements, declarations and OA community rules.
- Assisting with the establishment of the Owners Association and election of the Board.
- Preparation of Service Charge reviews and budgets.
- Establish Owners Association trust accounts and implement financial management arrangements.
- Determination of Key Performance Indicators for Building Management and Facilities Management Agreements.
- Preparing and distributing correspondence and records related to the General Assembly.
- Convening General Assembly and arranging Board Meeting(s) to follow.
- Producing meeting records and Board documentation to meet with RERA requirements.
- Producing strategies and processes in relation to the management of the community.
- Providing education material to Board Members ensuring they are aware of their obligations.
- Liaising with the Board to ensure understanding of the Budget and Service Charges.
Financial Management Services
- Opening, operating and reconciling a trust account in the name of Owners Association, including the collection and banking of owners maintenance payments and other receipts into this bank account.
- Preparation of annual service charge budgets.
- Establish and maintain General and Reserve Funds.
- Collect and deposit service charge contributions.
- Monitor service charge in arrears and implement collection.
- Process and pay invoices for work carried out on behalf of the owners association.
- Compile and maintain all accounting records.
- Accounting for and reporting on all technical, administrative, financial and regulatory matters.
- Prepare and present quarterly financial budgets and statements.
- Arrange annual financial audits.
Administration & Secretarial Services
- Development of long term management strategies for the Jointly Owned Property.
- Maintain and store all records, accounts and registers required by Law.
- Obtaining and renewing licenses and attending to Government registration processes on behalf of the Owners Association.
- Issue service charge levy notices.
- Collection of service charge payments for the Owners Association.
- Prepare agendas and notices of all meetings (Board Meetings, Annual General Meeting, Extraordinary General Meeting).
- Convene, hold and attend all meetings as necessary.
- Prepare and dispatch minutes of meetings.
- Attend to and resolve disputes within the Jointly Owned Property.
- Co-ordinate the addition and/or amendments to the Association Community Rules.
- Community Rules enforcement.
- Communicating complaints & requests from owners in relation to common property areas.
- Liaise with the appropriate authorities (government, semi-government, specialist practitioners).
- Arrange valuations and quotes for insurance.
- Arrange all statutory insurances to be kept current.
- Renew insurances.
- Prepare and lodge insurance claims.
Asset Management & Facilities Management Contract Supervision
- Facilities management contract procurement and service level supervision.
- Prepare, implement and coordinate a preventative maintenance program.
- Arrange scope of works for all trades people and specialists.
- Arrange quotations for all services and remedial work.
- Arrange and coordinate repairs and maintenance.
- Engage and supervise trades people and specialists.
- Supervise repairs and warranty claims in relation to common areas.
- Fire safety compliance.
- EHS compliance.