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Services
Asteco Property Management has a rapidly growing Owners Association Services division with dedicated professionals who bring Owners Association and Property Management experience from Australia, Asia and the UK.
Our team is knowledgeable in global markets as well as the emerging Dubai Owners Association Managment market as a result of working daily with diverse and complex situations.
We have built strong relationships in the UAE with facility managers, suppliers, service providers and related strata professionals as well as Dubai Land Department and the governing body RERA (Real Estate Regulatory Agency).
Asteco’s offers a comprehensive Association Managment Service incorporating owner association management and property management in accordance the Jointly Owned Property Law and Regulations.
Asteco acts of behalf of Owners Associations and is appointed to carry out all aspects of the day to day management and provide services including:
Consultancy Services
Asteco provide custom and comprehensive Consultancy Services in relation to Jointly Owned Property which is designed for the unique requirements of the individual project.
Jointly Owned Property developments have distinctive and different operational and management requirements in comparison to a property which has a single owner. The complexities are magnified further when different uses such as retail, office and hotel are brought together in one development, it is necessary to consider and structure the project effectively in order for all owners, commercial interests and users to harmoniously interact together.
We can assist in the creation of an Owners Association as well as all planning and pre-operational aspects including;
- Project Title Strategy and Structuring
- Project Use/Mix Methodology
- Operational planning
- Assistance in the preparation of Constitutional documents
- Procurement and tendering of Service Providers
- Operational Management requirements
- Compliancy with the Dubai Jointly Owned Property Law, forthcoming Regulations, Directives and any other relevant legislation
- Prepare, Coordinate & Implement handover and operational planning
- Preparation of Budget modeling for Service Charges
- Registration of Owners Association with RERA
Owners Association Management
Asteco Property Management offers comprehensive Association Management services to Owners Associations.
- Annual General Assembly requirements
- Notices, Communications and Correspondence
- Database creation and management
- Recordkeeping
Administrative & Secretarial Functions
Financial Management
- Service Charge Modeling & Budgeting
- Issuing Service Charge invoices
- Arrears Management
- Accounts payable
- Prepare and issue Clearance Certificates
- Financial Reports & Statements
- Escrow Accounting
Property Management Services
- Meetings with the Owners Association Management Board
- Supervision of common area service providers and related contracts
- Manage day to day relationships of all property users
- Annual survey of owners
- Enhancement recommendations
- Management Reports
- Assistance with arbitration/legal matters
- Information and advice on all Jointly Owned Property and Strata related issues.
- Service Charge Forecast & Budgeting
- Invoicing/collection of Service charges
- Receive, bank and record receipts and payments
- Accounts payable
- Prepare and issue Clearance Certificates
- Financial Reporting
- Escrow Accounting with approved RERA software
- Interface data with RERA as required
- Facilitate external Auditing of accounts
