Table of Contents
What is Mollak?
“Mollak” is a digital platform introduced to manage service charges and financial matters related to jointly owned properties in Dubai. It provides transparency and efficiency in handling contributions from property owners for the maintenance and upkeep of shared spaces and facilities within a JOP (Jointly Owned Property).
The Mollak system aims to streamline financial processes and enhance communication between property owners and OAMs (Owners Association Management Companies) in Dubai.
The Mollak Vision: Transforming Community Management for the Better
The vision of Mollak is to establish a transparent and efficient community management process for all financial aspects of communities and properties in Dubai.
Mollak proves to be instrumental in enhancing community finance management in various ways:
- Financial Transparency: Mollak ensures transparency in financial transactions, fostering trust among community residents.
- Equitable Resource Allocation: It enables fair distribution of funds, ensuring that resources are allocated judiciously for the benefit of the entire community.
- Simplified Fee Collection: Mollak streamlines the collection of service fees, reducing administrative burdens and ensuring timely payments.
The goal is to create a streamlined, and trusted framework that benefits both property owners and management entities.
How Mollak-ADDA Integration Helps Communities And OAMs
ADDA leads the way in driving technological advancements within the UAE’s Community Management Segment. We take pride in being the first Community Management Software in the UAE to integrate with Mollak. Whenever new APIs are introduced by Mollak, we swiftly integrate them to ensure our customers in the market can benefit from these updates promptly.
MOLLAK-ADDA AUTOMATION INTEGRATION HIGHLIGHTS
With the vision of getting deeper visibility into the governance of all residential communities, and removing various manual bottlenecks with regard to Community Processes, Mollak circulated the Management Report integration in Dubai.
The integration mandated information across various aspects of the Community Management and Accounting to be shared with Mollak – Example – status of service requests, customer happiness, balance sheet information, bank balances, etc. Below are details of some of the Integrations which were done.
- Budget for Each Property: The annual budget for the building gets synced automatically to ADDA when it is approved by RERA (Real Estate Regulatory Authority).
- Service Charge Invoices: Mollak Invoice PDF would get downloaded into the system against each Unit so that they show up automatically to each Owner right on the ADDA App.
- Standard Expense Heads: The approved budget would get synced with ADDA with the Mollak standard expense heads. This makes it possible for the Community to always keep track of expenses and variance against each budget head.
- SOA(Statement of Accounts): Upon Payment from the ADDA App automatic update of Mollak so that up-to-date Dues show for each Owner of the Unit.
- Receipts: In case the Owner has made payment directly (outside ADDA App) automatic Sync with Mollak Receipts happens.
- Management Reports: Automatic fetching of Mollak Management Reports Data from ADDA happens through the integration including one click submission to Mollak.
- Service Charge Non-Payment Notices: Automatic Sync with Service Charge Non-Payment Notices from the Mollak system, makes the data available to the Owner in the ADDA App. The Owners also get notified instantly through App notifications.
- Credit Notes/Debit Notes: Automatic Sync of Credit Notes/Debit Notes from Mollak to ADDA and vice versa happens, to ensure that the SOA (Statement of Accounts) is always in-sync.
Conclusion
Building a harmonious and financially secure community requires transparency, efficiency, and streamlined processes. Mollak and ADDA, through their seamless integration, empower residents with control and clarity over finances, while significantly reducing administrative burdens for OAMs. This collaborative approach fosters trust, accountability, and ultimately, a thriving community environment.