Archive for June, 2011

Complete Builder to Society Handover Checklist

Jun 14th, 11 / 4 Comments

Quite a few ApartmentADDA users are Multi Dwelling Complexes that have formed the Society and are in the process of taking Control & Maintenance Handover from the Builder. We hope this Study and Comprehensive Checklist will help both the Builder and the Society in hassle-free Handover.

Lifecycle of a typical Multi-Dwelling Complex (Apartment/Villa Complex):

1. Purchase of a Land Bank by the Builder from the Landowner(s)

2. Construction of the Building and sale of individual Units to Owners (typical duration of 1-3 years)

3. Handover of the Units to the Owners for Occupation, and maintenance of the Complex by the Builder (typical duration of 1-3 years)

4. Formation of the Owners Association/Society and handover of the Maintenance & Control by Builder to the Society (typical duration of 3-5 months)

5. Management of the Complex  by the Owners Society (typical duration of 25-40 years)

6. Redevelopment of the Complex by the Owners Society in collaboration with a Builder.

It is evident that the crossover between Point 4 and Point 5 above is crucial. A Property which will be managed by the Owners Association for 25-40 years and beyond need to be handed over well to the Society.

Society Handover

Here is a comprehensive checklist any Society will require for a smooth Handover from the Builder:

Checklist for Handover from Builder to the Society / Owners Association

Property

P1. Property Documents executed between the Landowners and Builders

P2. Approved Construction Plan

P3. Completion Certificate

P4. Occupancy Certificate

P5. NoC from Fire Department

P6. NoC from Electrical Inspector

P7. Clearance to operate Elevators

P8. Property Insurance Document (if any)


Operations

O1. Drawings of the Electrical Wiring including Earthing Points

O2. Drawings of the Water Piping

O3. STP Drawing & certification by Architect/Pollution Control Board

O4. Waste Disposal system with approval from Pollution Control Board

O5. AMC Documents – Lift, Generator, Transformer, ApartmentADDA portal, etc.

O6. Invoices and Warranties for all Assets – Pumps, Lift, Generator, Transformer, Pool Equipments, Gym Equipments

O7. Maintenance Schedule for all Assets

O8. Work Schedule of all Staff maintaining the complex



Finance

F1. Payment Record for Taxes towards Property, Construction and Maintenance

F2. Payment Record for City/Municipality Water Supply

F3. Record of Maintenance Expenses while under Builder’s Maintenance

F4. Record of all Collections made from the Owners (except purchase related)

F5. Contracts with existing Maintenance, Security staff (could be same as L6)


Legal

L1. Sale Deed copy/Proof of Ownership of all Owners

L2. Share Certificate Copies for all Owners (where applicable)

L3. Khatha Certificate Copies for all Owners (where applicable)

L4. Car Parking Allocation Record

L5. All Legal Documents executed between the Builder & Landowner (could be same as P1)

L6. Contracts with Vendors

L7. Undertaking by the Builder regarding Indemnity & Limitation of Liabilities of the Society for all transactions prior to the Handover Date

Useful Handover Tips:


ApartmentADDA is India’s #1 web-based Housing Society Accounting Software with complete integration to Online Payment Gateway, Society Communication and Facility Management . We empower Cooperative Housing Societies (CHS), Resident Welfare Associations (RWA), Apartment Owners Associations etc. with online tools to manage their Apartment or Villa Complex effectively.

Please sign up for a LIVE Online demo to know more about the product here : Register for Demo. Start your ADDA (Complete Communication Package), right now, FREE of cost here: Create my ADDA.

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Society Accounting, Society Management

Major upgrades to Income Tracker

Jun 3rd, 11 / 2 Comments

Dear ADDA Treasurers,

Santa has made a surprise visit to your ADDA in the middle of the year. Your Income Tracker been upgraded with lot many goodies.

Auto Invoicing for all Income Heads

Earlier Automatic Invoicing was possible only for Maintenance Fee Income Account. Now Automatic Invoicing is possible for any Income Account. You can create Auto Invoicing rules for Corpus Fund, Sinking Fund, Repair Fund, Property Tax etc. All Income Heads will get posted in a single Invoice, at the beginning of the Invoicing Period of your ADDA, automatically.

As before, Automatic Invoicing is for Periodic Member Invoices only, and is not possible for Non-Member Income (e.g., Income from Jewellery Exhibition, Event Stalls etc.)

Automatic Late Payment Interest

This is the one goodie EVERY treasurer craves. Every Society wants to apply fair Penalty on Late Payments, but because of the complexities of calculating it Manually, most of the time the Penalties are either written off, or calculated on a flat basis (e.g., Rs. 100 per month of non-payment, irrespective of Due Amount. Or, Interested calculated on a monthly basis – which means the Member who pays with 1 day delay pays the same penalty as the Member who pays with 29 days delay). Now you can set up Automatic Penalty calculation which calculates based on a Interest Rate per Annum, calculated on a DAILY basis. Which means, the Member who pays with 1 day’s delay pays less penalty than the  Member who pays with 2 days’ delay. Fair, Transparent, Timely Collection.

Invoice as a Document

The Invoice is now available as a Document, with Invoice Number et al.  You can customize the Header and the Footer per your requirements. Here is a screen shot of how the new Invoice looks like (Isn’t it beautiful!).

Society Invoice

Performance Upgrades

You would have already noticed it the past few days – we have doubled our server capacity and also optimized all our Applications . Check out your Trial Balance page – even before the progress bar starts the Trial Balance would have loaded.

IMPORTANT: We request existing ADDA Treasurers to sign up for a  Brief Up session to tour the new features and Q&A, so migrating to the new Invoice/Penalty Rules will be easier. Please sign up here : http://apartmentadda.com/home/contactUsPage-webinar.php.

Cheers!
ApartmentADDA Team


ApartmentADDA is India’s #1 web-based Housing Society Accounting Software with complete integration to Online Payment Gateway, Society Communication and Facility Management . We empower Cooperative Housing Societies (CHS), Resident Welfare Associations (RWA), Apartment Owners Associations etc. with online tools to manage their Apartment or Villa Complex effectively.

Please sign up for a LIVE Online demo to know more about the product here : Register for Demo. Start your ADDA (Complete Communication Package), right now, FREE of cost here: Create my ADDA.

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Related posts

Product Updates, Society Accounting