SCOPE OF WORK
The scope of work involved by us covers broadly the following:-
Building Management
- Design and implementing building operation policy and systems including preventive maintenance program to ensure smooth operations of the building facilities with necessary control measures in place.
- To establish the staffing requirements at subject property.
- Inspect the building and compile a list of building defects for the attention of the owner and if minor repair, other than structural, will be repaired by the Property Manager and the cost of material will be borne by the owner unless there is a major repair where consultant and contractors are requested.
- Minimize operating expenses through stringent budgetary, and economies of scale.
- For major repair work found necessary the Property Manager will invite specialist contractors to undertake the work after having obtained owners approval. The work will be monitored by the Property Manager and he will recommend all settlement of the final account for the works done.
- Implement and enforce set of house rules.
- To monitor and run the day to day operation of the building.
Insurance Management
Insurance plays a critical function in protecting the property. The Property Manager’s role will include:-
Insurance plays a critical function in protecting the property. The Property Manager’s role will include:-
- Advise on insurance coverage to protect the financial interest of all owners.
- Advise on the valuation for fire insurance and prior to the annual expiry of the fire insurance policies.
- Negotiate on the Owner’s behalf on the terms.
- Administer all claims permissible by the policies.
Financial Management
The Property Manager will provide limited service in respect of financial management on the expenditure and income, viz:-
The Property Manager will provide limited service in respect of financial management on the expenditure and income, viz:-
- An independent Client’s Account for the property will be maintained at all times.
- An annual expenditure budget for the building operation will be submitted to the owner for approval. The approved budget will be monitored closely with monthly variance report;
- Collection of service charge and other levies by the issuance of invoices to the various tenant/occupant.
- Tenant/occupant default in their payment of services charges, etc, the Property Manager would take necessary legal action.
- The Property Manager will provide the required administration staffs for the site.
Building and Service Audit
In order to ensure that all systems are implemented effectively and quality standards are maintained, the Property Manager will perform stringent periodic audits on all aspects of building maintenance. The audit exercise shall include:-
In order to ensure that all systems are implemented effectively and quality standards are maintained, the Property Manager will perform stringent periodic audits on all aspects of building maintenance. The audit exercise shall include:-
- Conduct building audits at appropriate intervals.
- Ascertain site office compliance with the operation policies and procedures.
- Establish and evaluate standards achieved against performance targets.
- Identify weakness and implement corrective action.
Reporting
The Property Manager understands the importance of communication and apart from the normal correspondence, adequate reporting will be undertaken. The frequency and type of which are detailed below:-
Monthly
The Property Manager understands the importance of communication and apart from the normal correspondence, adequate reporting will be undertaken. The frequency and type of which are detailed below:-
Monthly
- Budget update and variance analysis of expenditure.
- Report update and variance analysis of expenditure.
- Monthly meeting will be convened to discuss and advice on the abovementioned reports if required.
- A detailed building report will be furnished at the end of each anniversary on the state of repair and maintenance of the building. Included in this report would be certain recommendations for upgrading if found necessary. Implementation of these recommendations will be made in line with the capital budget and is necessary to protect the property owner which in return would sustain or enhance the market value of the Subject Property.
- Advise on the fire insurance valuation of the properties.
- An annual budget for the succeeding financial period.
- Meeting will be convened to present and discuss the above mentioned annual reports if requested.
Strata-titles Matter
The Property Manager does have experience in handling the strata-titles matter, which include the following:-
The Property Manager does have experience in handling the strata-titles matter, which include the following:-
- To discuss with the developers on the strata-titles plan that prepared by the surveyor,
- To follow up with the authorities for the approval of the strata-titles application, and
- To advise and organize the 1st Annual General Meeting with the residents.