Facility management/Building management/Property management.
A management company is business
structure, carrying out housing and communal services of
home. The foundation of the Homeowners association (HOA) is
required by law in Turkey. Any residential complex must have
an administrator. The administrator can be an owner or
tenant who himself lives in the complex, or it can be
transmitted to a professional management company.
What is the proper and legal establishment of an Owners
Association?
-
The first
general meeting can only be held if 51% of the owners
are present or represented.
-
A notary
accredited protocol book and cash-book is required and
must be prepared before the meeting.
-
The
meeting should start with defining a chairman, who the
meeting will lead, coordinate and taking minutes.
-
Then
following points are to discuss and decide by an
absolute majority: :
-
Determination and selection of the Management
Advisory Board. This must consist of a director,
assistant director, secretary, treasurer, controller
and members.
-
The
duties and responsibilities of the Director
determine, define and empower.
-
Preparation of the budget.
-
Regulation of the house rules.
-
Determination of staff such as caretaker, security
guard, gardener, etc.
-
All
decisions in the General Assembly are taken by an
absolute majority and authorized by director and
recorded in the protocol book, that after the meeting
should once more certified by Notary.
If the above
steps are done, the proper foundation is assured. However,
is the right proper management also guaranteed?
In buildings with only few units it may be possible, that
the management is led as a side job by a resident of the
building. However, it shouldn’t be forgotten, that the
management of properties includes very varied tasks.
Unfortunately, for the fulfilment of the tasks in most cases
only good will isn’t sufficient, therefore professional
house management is recommendable for right management of
the property.
In this context, we offer the following services:
»
The establishment of a proper
Owners Association.
»
Preparation and implementation of
owners' meetings.
»
Circulate and announcements of
important information.
»
The preparation of an economic
plan. The manager is required each year to create an
economic plan
and after that year to present a detailed balance. The account
verification is conducted by the
Management Advisory Board
»
Recruitment and training of staff
(caretaker, gardeners, etc.).
»
Wage and expense payments.
»
Accounting of all cash receipts
and cash exits.
»
Monitoring of incoming payments
and realization of the payment order to overdue payments.
»
Maintenance and repairing of the
common areas.
»
Enlist craftsmen and monitor the
performances.
»
Completion of maintenance
contracts, such as pool, elevator, plumbing, fire
extinguishers etc.
»
Completion of insurance for
example the building, liability, etc. the correspondence and
the completion
»
of formalities including damage
regulation with respective insurance companies.
As you can understand, good
house supervisor needs an extensive knowledge of the
commercial and technical fields. The goal of property
management is maintaining the value and increase value of
your property. This can be guaranteed only if the object is
optimally managed and maintained.
Contact us and we will gladly advise you without any
obligation.
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