Straurus property management
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Northern Region Area
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Strata Management
a) Strata Management Act 2013 (Act 757) - to provide for the maintenance and management of buildings and common property of multi-storey buildings and sub-divided land in a proper and efficient manner to benefit and contribute to the success of the strata development.
b) Strata Management (Maintenance and Management) Regulations 2015.
a) Prepare and set out clearly a defined checklist to ensure the successful handing/ taking over of the relevant assets, documents and records with regards to the maintenance and management of the property.
b)To check and ensure that all the relevant documents and financial records of the property together with the audited accounts are handed over.
c) To carry out a general inspection audit to establish the current state of repair and condition of the building, infrastructure, installation and facilities, required rectification of defects and deficiencies to ensure proper upkeep of the property. This shall be documented in the form of a Building Condition Report. If there is a need to carry out any form of test or investigation requiring specialized knowledge, skill, equipment or instrument, the Client shall, at his own cost, appoint a specialist consultant to conduct such test or investigation.
d) Implement the deed of mutual covenants, house rules or by-laws, as the case may be, established for the property management of the property. As and where necessary, the Property Manager shall advise and assist the Client to review and make amendments to the deed of mutual covenants, house rules or by-laws, as the case may be.
a) Set up a suitable conducive Management Office to undertake the management and maintenance of the building, subject to client’s agreement and the setting up cost shall be borne by the client.
b) Recommend suitable organisational structure and an adequate number of personnel to undertake the day-to-day management and maintenance of the building in accordance to the contract agreement with the client.
c) Design and implement the relevant policies and procedures for the property and ensure all necessary controls are in place.
d) Prepare, review and implement standard operating procedures (SOP) for the administration of the site office, site personnel, vendors and service contractors.
e) Formulate management and maintenance procedures to ensure efficient management and maintenance of the building.
f) Recommend an appropriate purchasing/procurement procedure for the client’s approval.
g) Prepare periodic management report on the building maintenance and management to the client in a timely manner as agreed by the client.
a) Corrective Maintenance;
b) Planned Maintenance;
c) Service Providers.
- Physical inspections regularly.
- Management of improvement or repair projects.
- Emergency response 24/7 & crisis management plan.
- Rules and regulation enforcement.
- Preventative Maintenance Plan.
- Maximize income through controlled expenses and operating costs.
a) Issuing invoices and receipts. Collecting rental income, service charges or Charges, sinking fund and any other charges legally imposed;
b) Monitoring outgoings for the property and making the payments out of the income or charges derived from the property or as approved by the Client; including payment of tax, quit rent, and other relevant taxes;
c) Preparing budgets, maintaining financial records and submitting financial reports for the property.
a) Assist the Client to open and administer a trust account which is operated by the Client known as the Maintenance Account for the collection of Charges and other recoverable charges imposed and Sinking Fund Account for the collection of sinking fund contributions imposed by the developer, Joint Management Body, Management Corporation or Subsidiary Management Corporation, as the case may be, and the disbursements thereof.
b) Preparation of the Annual Budget covering income and expenditure of the property for the Client’s approval.
c) Prepare the Annual Account and ensure that this is professionally audited by an approved company auditor appointed by the Client at the Client’s cost according to Malaysian Financial Reporting Standards (MFRS)
d) Billing system.
e) Collection system.
f) Payment system.
g) Updating of all transactions to the Cash Book, Accounts Receivable, Accounts Payable and the General Ledger on a monthly basis.
h) Updating monthly journal entries of accounting adjustments and posting to General Ledger.
i) Reports
- Prepare monthly billings and collections report;
- Prepare monthly ageing report of all outstanding accounts from owners/residents;
- Prepare monthly creditors aging report for amount owing to service providers and suppliers;
- Prepare monthly bank reconciliation and to investigate all differences arising from the reconciliation;
- Prepare monthly Income and Expenditure Account and Balance Sheet showing surplus or deficit for the month;
- Prepare yearly Income and Expenditure Account and Balance Sheet, including the relevant schedules for annual statutory audit;
a) Planning –
Choosing the best out of various alternative objectives, evaluate, processes, develop, review, and improve policies, systems, and procedures, and generally ensuring the office operate smoothly and efficiently.
Avoiding confusion, uncertainties, risks and wastages
b) Organization
Identification of activities.
Classification of grouping of activities.
Assignment of duties.
Delegation of authority and creation of responsibility.
Coordinating authority and responsibility relationships.
c) Direction
- Supervision
- Motivation
- Leadership
- Communication
d) Control
Establishment of standard performance.
- Measurement of actual performance.
- Comparison of actual performance with the standards and finding out deviation if any.
- Corrective action.
a) Assist the Client on the various perils that affect the property and types of coverage available.
b) Assist the Client to procure adequate coverage for the different perils to protect the interest of the Client.
c) Shall enable for proper and timely billing of the insurance premium to be made to all owners who are liable to pay for it based on an agreed apportionment.
d) Shall report damages and losses as and when they occur and assist to make the appropriate claims to the insurers in accordance with the insurance policies and procedures.
e) Shall ensure that monies received from any claim is fully utilized for the purpose for which it was claimed for and all monies received are deposited into the appropriate Client’s or trust account, as the case may be.
- Fire Insurance
- Public liability insurance;
- Error and omission insurance or management liability insurance;
- Plate glass insurance;
Machinery breakdown insurance; - Burglary insurance;
- Money insurance (onsite and in transit);
- Fidelity guarantee insurance;
- Office contents and equipment insurance;
- All risk insurance;
- Personal accident insurance
a) To protect our Client against risks on safety or health in connection with the activities of the residences, vendors and visitors.
b) Types of risks, hazards and emergencies that may affect properties include:
- Fire and explosion;
- Gas leaks and explosion;
- Power failure;
- Natural disasters – such as earthquake, landslide, flood and tempest;
- Structural failure;
- Mechanical and electrical equipment failure;
- Corrosion and leakages of bulk water tank and pipe lines;
- Epidemic of infectious disease.
c) To develop a safety and security programme that meets the Client’s and occupiers’ needs. Such a programme is to prevent safety and security breaches and to detect them should they occur and follow through with proper actions to minimise harm to people and damage to property.
Emergency and evacuation procedures;
Training and conducting emergency and evacuation drills
a) To ensure that all dealings and transactions are ethical and transparent with Client’s best interests protected at all times.
b) Advisory and implement relevant processes for the collection of rents, service charges or Charges, car park charges and/or other relevant charges and shall keep proper accounts of all monies collected.
c) To ensure proper documentation and records are kept on the Client’s property and inventories, these items are kept in good condition, with the exception of fair wear and tear.
d) Advisory between the landlord/lessor and tenant/lessee in the tenancy/lease agreement, and be well versed with legal provisions relating to tenancy/lease matters as well as those under the Contracts Act 1950 [Act 136].
e) To ensure that the covenants expressed or implied, are observed by the tenant or the lessee, under the tenancy/lease agreement throughout the duration of the tenancy/lease.
f) Diligently monitor and enforce the covenants without fear or favour at all times.
g) To coordinate delivery of vacant possession and handing/taking over are properly executed when tenants are moving in or moving out. This may include full reinstatement of the demised premises to its original condition.
a) Advisory integration of processes within an organisation to maintain and develop the agreed services which support and improve the effectiveness of its primary activities.
b) To control and manage all building management and maintenance functions except for the collection of rental, maintenance charges and other charges on behalf of the Client. Lack of facilities management will lead to the loss of confidence of building owners and investors in the building and the value of the building may also be affected by adverse publicity.
c) To ensure compliance in all the aspects of building operations to create an optimal, safe and cost effective environment for the occupiers to function. Such areas of facilities management include the following but not limited to:
- Upkeep and cleaning
- Fire safety
- Health and occupational safety
- Mechanical & electrical (M&E) facilities and services
- Maintenance, testing and inspections
- Operation of facilities
- Security, surveillance and safety
- Space allocation and changes
- Tender process
- Tenancy and lease management
- Energy management
- Environmental management
- Landscape
a) Full Integration Strata Management Software to improving the convenience and lifestyles of owners and dwellers of communal type properties.
- Incidents of fraud and pilferage - Money missing / Lost / thieves
- Incidents of robbery - Cash-in-transit (before deposited into bank account).
- Unidentified receipt - Money received but unable to identify - Unclaimed Money ACT1965.
- Careless of Resident/Staff -Wrongly entered of unit number - Misplace of cheque / Cash.
- Security, Reliable and Cost-effective way - Auto debit / Standing Instruction / MOTO - Falsification of data/information before uploading to bank’s website/pay for other unit’s outstanding.
- Data desk analysis
- Collection policies analysis
- On-site due diligence
- Qualitative information and comparison with time series
- Expert appraisals
- Property enforcements database
- Strata Management (Strata Management Tribunal) Regulations 2015
- Outsourcing of credit management
- Preventive reminders
- Amicable collection of unpaid JMB / MC’s invoices
- Contentious collection
- Collection of long overdue monthly strata fee (maintenance charge, sinking fund, quiet rent, fire insurances and etc)
We are always ready to provide solution to resolve property related problems for our Client's.