FREQUENTLY ASKED QUESTIONS

The experienced team of professionals at Nakheel Strata provide a variety of services designed to support communities.

Administrative services

• Establish and maintain owners roll and minute book;
• Establish and maintain a record system of all correspondence pursuant to law;
• Maintain a roll of assets and facilities within the development as well as warranties;
• Record and retain all required notices under the Strata Legislation;
• Prepare, distribute and collect all correspondence and records related to the General Assembly meeting;
• Prepare, distribute and collect all correspondence and records for all other meetings which are required during the financial year by the board members;
• Maintain the schedule of exclusive use parking allocations and storage areas;
• Attend and record all meetings and issue Minutes of Meetings to all owners;
• Provide a point of contact for owners as well occupants and attend routine written and oral communication;
• Advise and assist owners and residents/occupiers in relation to the commercial Community Rules;
• Arrange insurances and claims as per Owners Association decision;
• Maintain a register for supply agreements;
• Maintain full documentation for history of service providers;
• Serve notices and keep the board members informed on relevant legal and regulatory issues;
• Provide monthly management reports to the Owners Association board including details of resident complaints, action and follow-up;
• Attend to the instructions of the client and liaise with other service providers in relation to the operation and maintenance of the development;

Owners Association Meetings

• Prepare Association Meetings, including preparation of notices of General Assembly for the Owners Association, proxies, voting papers, budget information and reports;
• Prepare and distribute the General Assembly agenda for the Owners Association;
• Prepare and accept correspondence on behalf of the Owners Association;
• Convene and run the Association meeting;
• Prepare, record and distribute Minutes of the General Meetings.
• Owners Association Board and Board Meetings
• Assist the Board with understanding its responsibilities and restrictions and provide advice as requested;
• Prepare and distribute notices of Board meetings;
• Convene and run Board meetings;
• Prepare, record and distribute minutes of board meetings.
• Financial and Accounting Services
• Set up, manage and maintain bank account(s) in the name of the Owners Association as required by RERA and as per direction by Owners Association;
• In conjunction with the board, prepare the budget for the following financial year and provide general advice on General and Reserve Fund requirements to the Owners Association;
• Load financials Owner information onto the software system with existing data from the existing Owners Association Manager;
• Issue Service Charge notices as per agreement with the Owners Association board;
• Prepare and distribute utility Invoices for chilled water - as per the entitlements;
• Receive service charge and utility payments and issue receipts;
• Perform debt collection and the recovery of outstanding Service and Utility Charges and report the progress to the board to help in ensuring sufficient cash flow of the building
• Follow-up on collections of arrears using instruments given under the law to the Owners Association
• Approve payment of invoices and present to Owners Association for payment;
• Provide monthly income and expenditure reports, budget target reports and arrears reports to the Owners Association
• Maintain books of accounts and prepare monthly reports as balance sheet, statements of income and expenditure and collection reports
• Assist the external auditor in providing accounts and records for the required audit(s) and reconciliation of funds
• Advise and assist the Owners Association if legal action is needed to recover outstanding Service Charges

Insurance

• Recommend appropriate insurance policy cover for the building, board or Owners Association;
• Obtain quotes for insurance required under the law prior to the date of renewal;
• Submit quotes to Owners Association Board, provide advice and renew insurances (according to instructions);
• Prepare, lodge and follow up on insurance claims on behalf of the Owners Association;
• Arrange insurance valuations as and when required.

The Owners Association provides a platform to preserve, maintain and enhance the homes and services of the community.