KAIZEN Asset Management, through its many years of providing Real Estate solutions to the region, understands the close correlation between the set up of the Owners Association, the JOPD and Handover. Each step of these three stages has a direct impact upon the other and it is vital that this understanding is clearly followed to avoid unnecessary delays to investors and developers, particularly with the release of funds from escrow.
Our dedicated team is well versed with these procedures and will ensure that the correct steps are taken that allows the purchasers, residents and developer a smooth transition. Our services are broken down as follows:
- Receive a copy of the signed and executed sales and purchase agreements from the developer, and identify the payments due by the purchasers.
- Collect payments from purchasers on behalf of the developer; payee name is the Escrow Account.
- Follow up on outstanding payments. Utilize effective methods to follow up on payments until clearance of dues.
- Act as primary point of contact for all purchasers’ payment enquiries and issues.
- Liaise and communicate with relevant authorities having jurisdiction including RERA with regards to purchasers raising payment issues or concerns.
- Prepare and maintain a detailed handover process
- Prepare the list of units in a phase wise handover schedule
- Set deadlines and time frames for the actual handover process
- Prepare DEWA Account Transfer Procedure fact sheet
- Prepare Handover Fact Sheets for the Owners
- Prepare FAQ’s for the Snags and Inspection- covering what is covered in the snagging inspection and what is not
- Prepare the Home Owners Manual
- Prepare the Handover Kits
- Evaluate all outstanding payments due from the Owners to the Developer
- Send out Pre Inspection Notices to the owners according to the schedule
- Conduct Home Orientations with the Owners present at site
- Conduct Home Orientations without Owners present at site with prior written approval from the Owners, we will offer Owners the option to authorize completion of handover on their behalf
- Identify snags into two major categories:
- Snags- which makes the condition of the unit non livable
- Snags -which will be dealt with during the Defects Liability Period (DLP)
- Handover of keys, Master & Building Community Rules, Home Owners Manual, Parking Access cards, Handover Kit to Owners once they have signed the DLP Service Request Form
- Owners to fill in an Apartment Handover Checklist before taking over the keys and parking cards.
- Compile and record a list of all snags
- Liaise between Contractor and Owners throughout the DLP
- Conduct regular visits to the Property
- Follow up with Contractor and Owner
- Ensure all works and correspondence are recorded
- Produce reports showing status of all snags
- Deal with any complaints that may arise from Owners regarding the snagging