Full report PM - property management task PDF

Preview

Summary

DEPARTMENT OF ESTATE MANAGEMENT FACULTY OF ARCHITECTURE, PLANNING AND SURVEYING, UNIVERSITI TEKNOLOGI MARA PERAKGROUP ASSIGNMENT FOLDERCourse Code: REM 317Course Name: PROPERTY MANAGEMENTName of Group Members Matric No NURIN NABILLAH BT AZIZ 2017302163 ALIFF BIN AHMAD FAUZI 2017167967 FARA ADREANA B...

Description

DEPARTMENT OF ESTATE MANAGEMENT FACULTY OF ARCHITECTURE, PLANNING AND SURVEYING, UNIVERSITI TEKNOLOGI MARA PERAK

GROUP ASSIGNMENT FOLDER Course Code:

REM 317

Course Name:

PROPERTY MANAGEMENT

Name of Group Members

Matric No

NURIN NABILLAH BT AZIZ

2017302163

ALIFF BIN AHMAD FAUZI

2017167967

FARA ADREANA BT AZHAR

2017389867

ADAM FIRDAUS

2017333687

Name of Group Leader :AZRUL HANIFF BIN HASMI

Matric No : 2017178087

Assignment Title : CHOOSE A STRATIFIED PROPERTY AND CONDUCT A STUDY ON CHOOSEN CASE STUDY. .

Due date of Assignment

Submission Date :26.6.2020

DECLARATION : We declare that no part of of this assignment has been copied from other person’s work except where due acknowledgement is made in the text, and no part of this assignment has been written for me by any other person except where such collaboration has been authorised by the lecturer concerned

Group’s Leader Signature.............................................................

Date........................................

A lecturer/tutor has and may exercise a right not to mark this assignment if the the above declaration has not been signed. If the above declaration is found to be false, no mark will be awarded for this assignment Copyright@Estate Management Dept, UiTM Perak

TABLE OF CONTENT Page

Contents

2

Acknowledgement

3-5

Organizational Chart

6-8

Property Management Ethics and Professionalism

9-11

Scope of Work of JMB, MC, Sub- MC

12-13

Challenge Encounter

14

Conclusion

15-17

Appendices

1.0 ACKNOWLEDGEMENT

First of all, we would like to thanks to Allah because has given us a chance to complete this assignment task just in time. We faced a lot of challenges and difficulties during finding on information to complete this task. But we did manage to complete it well. We also won’t forget to express our gratitude to our beloved lecturer which is Madam Noraini who had given us a golden opportunity to this wonderful assignment of property management. She has been a good guider for us while we were doing the task. She has given us an appropriate example and knowledge in order to make us much understand about this assignment. From this actions, it make we know more new things. Next, we would like to thank to the other groups which was willing to share their information regarding this assignment to us even they had many works to do but they can spare some of their time. Without them, we don’t think we can complete this task in time. They had given us a lot of new ideas of this task. . Last but not least, we also would like to thank to our family members especially our parents who have tried to give their best in supporting us either giving a lot of encouragement so that we can keep on track.

2.0 ORGANIZATION CHART No

Position

Roles

1

Chairman

Plays

Key duties an

important

role

in

-

overseeing all operations of the JMC to make sure that building

Set maintenance and management standards.

-

To conduct a town hall

and property is well maintained

meeting two times per

and managed

year with strata unit owners and residential. -

Initiate and preside at all JMC meetings

-

To ensure the yearly AGM are held.

2

Secretary

Manage all the JMC records,

-

To liaise with strata unit

especially of meetings, filing and

owners on issues and

others

create proposals to improve the maintenance and management. -

To receive and check all plans built drawings, maintenance schedule and contact list of consultants and contractors.

3

Treasurer

For maintaining the maintenance

-

To open two JMB bank

account and sinking fund account,

accounts ( one for

monitoring expenses, keeping all

maintenance charge

records of income and expenses

and the other one for

as well as ensuring accounts are

sinking fund)

audited.

-

To transfer all monies from the developer to the JMB account.

-

To receive and verify all money and accounting records.

4

Security

Having a good security system

-

To ensure the standard

services

and security guard services are

operating procedures

important.

(SOP) for security services including regular patrol in the apartment compound and entry security access are adhered to -

To hold a monthly meeting with the security company to review monthly security operations and any issues arising.

-

To propose additional By-laws related to security matters

5

Building/ M&E Carrying out regular maintenance

-

To review the planned

installation

of mechanical and electrical m&e

maintenance schedule

maintenance

installations can save humongous

and inspection checklist.

cost for repair works due to

-

neglect.

To ensure that planned maintenance is carried out diligently and review service report.

-

To go for calls if necessary for defects or breakdown

-

To verify payments to service providers or contractors.

6

Landscaping

Beautiful

landscaping

maintenance

enhance the appearance of the

refuse is placed

surrounding

anywhere.

environment

can

-

thus

increase the value of the property.

-

To ensure no garden

To vet through the service agreement of

the landscaping maintenance contractor. -

To call for replanting of any unhealthy ground cover, shrubs and plant.

-

To ensure there is no extra planting of any kind of flora and fauna by anyone except approved by JMC.

7

Social

and To

promote

a

sense

of

-

To organise events

recreation

togetherness as a community

such as family day,

activities

amongst strata unit owners as

dinner, tours and so on.

well as residents. 8.

Developer’s

The developer must continue play

-

representative roles in managing the strata property until 25% of aggregate

To provide continuous advice to the JMB/JMC.

-

Act as linkage between

share units have been transferred

the JMB/JMC and the

and the Management corporation

developer

is formed.

-

To act independently for the common interest of all.

-

To gather feedback on design and specifications and relevant data of the strata property.

3.0 Property Management Ethics and Professionalism

There are many ethics and professionalism which the company or management practiced:

1) Responsibility to client As we already know, property manager is the person who manage the building as the clients wants. Property Manager also act as client’s eyes and ears on the property, to ensure that the property is cared professionally. The property manager also represents their client in the best interest of the company. To protect rental list, as the property manager need to be honest and shall not deceive their potential customers about the rental market value of a property. Property Manager shall have a good communication skill since they need to communicate with their client frequently. The Property Manager also need to perform writing skills instead of a communication skills with the clients because the property manager can communicate with their customer whether orally and also in writing on regular basis if its necessary and as agreed between all parties. Other than that, the Property Manager need to finish their written report as soon as possible in case of any disagreement with the information.

2) Obligations to tenants Property Manager must be fair as they need to deal equally and reasonably with all tenants. The deal is including through a refund process, leasing, residing, or vacating a regulated residence. Other than that, Property Manager also need to make a written request to all prospective tenants for example a copy of the rental agreement, rental property checklist and so on in order to ensure all are running smoothly and no fraud occur. With the present of rental checklist and rental agreement we can identify and response promptly if there is any serious defect on the property whether it is critical or not. The Proposal Manager might give the tenant with the choice of completing written condition report within 7 days after his movement and making all revelations as required by state and local legislation.

3) Responsibility to protect the public The Property Manager needs to protect the public against fraud, misrepresentation, and unethical practices in property management. The Property Manager shall not inflate, misinform, or hide relevant about marketing, renting and property management. To protect the public, Property Manager needs to make sure the data on its company and its website is updated and correct. So then, the Property manager must make reasonable efforts to make sure the data is correct. Next, the Property Manager must alert if the data is not upto-date or reliable on the website. If it happens, they need to take corrective action immediately. If there are no longer rentals that are available from the internet, the Property Manager must erase it. This is to make sure that the public get the exact information and have the current data or information about the market rental. By control this action, both parties will not suffer loss.

4) Handling of funds As written in the state law, any funds received on behalf of others shall not be mixed with personal or other business funds by the property manager or used for any purpose other than its intended purpose. In compliance with the applicability of management contracts, the Property management team shall keep the correct records and prepare and provide the Customer with reliable and timely financial reports about the Customer's rent and financing.

5) Care of manage property In compliance with the local jurisdiction's safety and health laws, the property manager shall protect the safety and health of these legally regulated properties and administer these assets in accordance with local authorities. The Property Manager is not responsible for maintaining properties for Clients who refuse or are unable to manage their property in compliance with the protection and habitability standards of the local authority. If the company fails to fulfil the habitability criteria, the property manager may have to terminate the asset administration.

6) Commitment to firm The property manager needs to act in the best interest of their property management company. There is no undisclosed conflict of interest between the property manager and his firm. In cases where a dispute or possible conflict occurs, the Property Manager shall notify the Client immediately. The property manager shall not receive any salary, discounts, or other benefits without the full disclosure to his company.

7) Truth in advertising The property manager is responsible for ensuring a clear and straightforward advertisement which includes only direct and factual statements about the advertised property or services. Despite the type of media that is used, ad content must always be truthful and honest. Any property shall be sold as a "for rent" without the customer's direct permission. The owner's permit must be obtained if an unlisted property is sold. All marketing material, whether written or digital, must be conformed to the relevant laws and licensing requirements.

8) Commitment to firm In the best interests of their property management firm, the property manager shall act. There is no known conflict of interest between the property manager and his company. In situations where a conflict or potential conflict arises, the Property Manager shall inform the Company immediately. The property manager shall not receive any salary, discounts or other benefits without the full disclosure to his company.

4.0 SCOPES OF WORK OF (JMB, CM, SUB- CM)

Joint Management Body (JMB) A body called a Joint Management Body (JMB) is established under section 17 of the Strata Management Act 2013 (SMA) upon convening of the primary annual general meeting of the JMB by the developer. The JMB could be a body corporate having perpetual succession and a typical seal. The duties and powers of a JMB are kicked off in section 21 of the SMA. JMB is not a developer company but a body comprised of the developer and strata owners or purchasers, which is liable for the upkeep and management before strata titles are issued for a stratified development area. A JMB will select a joint management committee (JMC), which is able to perform the JMB’s duties and conduct its business, and for that purpose, exercise any of the powers of the JMB. Upon the completion of a development, the developer will concern vacant possession. It subsequently issues a notice to any or all unit owners to gather their keys within 14 days. After the 14 days, all unit owners are deemed to possess collected their keys. Then, that is when the developer is required to require an Annual General Meeting (AGM) to create a JMB within a year from the tip date of the 14 days notice. A JMB is not permitted to sign contracts that binds the committee for a period exceeding 12 months. There are many job scopes of Joint Management Body (JMB). First, to keep up and manage the building or land intended for subdivision into parcels and also the common property and also they have to stay it during a state of fine and serviceable repair. Next, to see and impose charges in maintenance account for the upkeep works and for the aim of the right maintenance and management of the buildings. The duties of JMB also to see and impose the contribution to the monetary fund account to deposited into the fund account for the aim of meeting the particular, expected expenditure specified under subsection 24(2). They also have to do all things reasonably necessary for the performance of its duties under this Act and for the enforcement of the by-laws and lots of more. JMB will perform their duties until they're dissolved. Once they are dissolved, the Management Corporation (MC) will takes over the roles.

Management Corporation (MC) A management corporation (MC) could be a legal body constituted by virtue of the Land Titles (Strata) Act (Cap. 158). The primary AGM of an MC may only be convened after proprietors representing a minimum of 25% of the combination share units of the event area. A JMB is automatically dissolved within three months from the date of the primary AGM of the MC. The body comprises all subsidiary proprietors of the event and is created to permit subsidiary proprietors to form decisions on and lead of the affairs of the event with minimal interference from the authorities. The duties of the MC are numerous and usually these are for the control, administration, maintenance and management of common property for the advantage of all subsidiary proprietors. They have to properly maintain and manage the subdivided building or land and therefore the common property and keep it in an exceedingly state of excellent and serviceable repair. They also determine the imposed charges and contribution to the monetary fund during the annual general meeting same because the JMB just. They have to fits any notice or order given or made by the bureau or any competent public authority. They collect charges from owners of each unit within the event, exercise its power to recover owed charges from parcel owners behindhand in accordance to its rights under the Strata Management Act (SMA) and more.

Subsidiary Management Corporation (Sub- MC) If the event is just too large and difficult to be managed by one committee, a Subsidiary Management Corporation (Sub-MC) are needed. Residents can only form a Sub-MC if the most MC is already breathing. The Sub-MC runs rather independently from the MC, although one member from the MC has to participate within the running of the Sub-MC. The members of the management committee is all the strata owners or proprietors who enjoy the exclusive good thing about the designated Limited Common Property (designated common areas and facilities to be enjoyed by some strata unit owners or residents only). After the establishment of the subsidiary management corporation for the limited common property, the management corporation shall retain its powers and duties in matters concerning common property of the event area which isn't designated as limited common property. The primary AGM of Sub- MC is within one month after the issuance of the certificate of subsidiary management corporation issued by the Director of Land and Mines.

A subsidiary management corporation shall not enter into any contract or sue within the name of the management corporation and therefore, the management corporation shall not have any liability for contracts made or debts or legal costs incurred by the subsidiary management corporation. A subsidiary management corporation may obtain insurance only against risks that are not insured by the management corporation or for amounts that are in far more than amounts insured by the management corporation. Their duties are to properly maintain and manage the limited common property, and keep it in a very state of excellent condition and serviceable repair. Next, to see the imposed charges and contribution to the monetary fund in relevance its limited common property during the annual general meeting. Lastly, to adjust to any notice or order given or made by the office, or any competent public authority.

5.0 CHALLENGES ENCOUNTER BY JMB/MC/SUB-MA

1) Service charge and sinking fund payments



First on the list needs to do with money. It’s going to not be the foremost cordial subject to broach, but it's inevitable as service fee collection is one amongst the foremost common issues in strata living. You've got probably heard of house owners who refuse to pay their maintenance fees .So, the overcome is first, seek clarification from the owner .Second, exercise the facility granted by law to enter into an instalment payment programme .Third, discuss with the Strata Management Tribunal .Fourth, check with the Commissioner of Building .Fifth, confer with civil court.

2) Leakage from adjoining unit 

Leakage from ceilings and walls may be very distressing. Left unattended, it can even pose a danger. Besides giving space for mould growth, it can cause damage to the property and result in more severe mechanical and electrical problems. The problem should be addressed as s...