Managing an apartment community was never a child’s play and will never be one. It requires immense time, effort, dedication and commitment to ensure a community runs smoothly. Therefore, Owners Association Management have a huge responsibility on their shoulders. Accounting, customer care, technical support, property and facility management are a few priority services Dubai OAMs handle among other duties. Projects are placed under the care of a community manager for the personal touch.
Being a successful OAM need immense focus to provide exemplary service to the board of owners. Expectations are always high. It helps to remember a few points to warrant a degree of trust among clients and prove to be a game changer in the market.
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Effortless Accounting Infrastructure
The one word that comes to mind when planning and executing policies about account management in apartment communities and gated communities – sprezzatura. A simple way to define it, would be,”Paddling like a duck in a pond – all calm and grace to the sight but swimming insanely underneath.”
Employees of OAMs have to be constantly vigilant when it comes to account management. A comprehensive financial management demand an adaptable strategy to secure the day to day transactions with zero hassle. An online module for payments of bills to vendors and collection of maintenance due from occupants boost efficiency. Considering we are increasingly moving to a lifestyle where we are constantly on the move, it helps to have online access to pay or receive payment from anywhere, anytime. It helps to have a disciplined method to prepare a budget for the maintenance of a property. With RERA and Mollak tightening the laws, it only makes sense to frame a consolidated well thought out budget covering all segments of income and expenses. Switching to dedicated apartment management software makes community accounting that much easier, comprehensible and crystal clear.
Monthly financial reports help to maintain transparency among owners, residents and the OAM. It also helps to assess income and expenditure and to take decisions of spending less or more in necessary segments. Having established relationships with suitable investment vehicles, contribute to increase available finances to maintain the communities under the OAMs.
Happy Customers Maketh A Successful OAM
Every OAM must remember the customer is their lifeline. It is only logical to ensure customer base is content and satisfied with services and grievance redressal. Customers should not feel they are communicating with a void space on the other side. The reassurance to resolve their concerns or answer their queries should be diligently maintained. A personalised customer care structure goes a long way to build branding and trust in the firm. At the same time, it is advisable to remember, the modern customer also prefers an easily accessible customer care support base. This is where apartment management apps come into play. In the hands of an efficient community manager, apps are the middle ground between accessible and personalised customer support. Customers can put a face to the admin and can be rest assured their questions and concerns won’t be piling in the corners of an overflowing inbox unanswered. A successful OAM is built on the performance of dedicated customer care professionals who understand each community and the unique problems they may face. A customised solution to such problems inspire a strong human bond, that often go beyond the professional.
Technology Is Your New Best Friend
The surge in new properties is not going to stop anytime soon. Manual systems have their limits to manage several properties. The amount of records needed to be maintained will fill up a few mailrooms without breaking a sweat. Technology is the only answer to sustain the management of this growing segment. The software segment has duly addressed this issue and has come up with apartment management software. Following a SaaS model, proptech is the new in thing in the real estate industry. Dedicated community websites are a viable extension of a property that is digitised using management software.
Apartment management software and apps come with several integrated modules like accounting, facility booking and management, repairs and maintenance of property as well as security. Software helps in automating paperless invoice generation, it helps in reminding residents of timely due payments. The automation helps in increasing revenue and gives OAMs a chance to take up initiatives for the communities under them, beyond the obvious services. Notices, violation letters are easy to send to residents promoting a healthy connected living space for residents.
State Of The Art Day to Day Community Management
To be a successful OAM, a company should remember the board of owners are handing over the maintenance of their home to the company. So what helps to show customers the respect an OAM has for their homes?
Regular property inspections keep OAMs in close touch with their end customers – the residents. It creates the impression of a company willing to be involved with their clients and not just treat them as money making machines. A company that revolves their management schemes around government policies create the impression of being an honourable establishment with strong professional integrity. Bringing in the human factor enhances a company’s brand image. Guaranteeing services like access to 24*7 emergency medical care to community members help to amplify the company’s competence. Establishing preferred vendor relationships assist to control the quality of services offered and minimises liabilities. It aids to regulate the upkeep of common areas and any other facilities requiring preservation. A good community management foundation also increases the valuation of a property owing to great maintenance.
Miscellaneous Services – The X Factor Making An OAM Unique
Any good company has a USP. Great care should be taken to ensure the USP is indeed unique and establishes a clear distinctive identity of the company. A productive way to go about it is to offer services unique to the brand. Some miscellaneous services that can be offered are real estate legal aid to clients, managing handovers, initiation of maintenance collection process, transition of owners, rental property management for villas and apartments, supervision of property maintenance, repair and renovation services for client communities, board member training seminars or educational symposiums and owner board establishment. This is one segment where the sky is the limit for OAMs to explore and find out what would best suit their target clients and also take the firm a step towards being inimitable.
Like Rome, a successful OAM is not built in a day. Concentrated labour, a temperament to adapt to change and the human factor – all fundamental elements necessary to achieve the target of being a force to reckon with in the industry – are significant touchstones for OAMs.
Also, read about Technology – The Secret Weapon of Dubai OAMs for Happier Communities.