Posted By admin
Mar 28, 2024
01:11:52pm As a real estate developer, handing over the property key to the owner after completing the sales agreement is a crucial process that demands careful planning and execution. Property handovers often involve numerous complexities, from coordinating inspections to addressing maintenance issues, leading to delays and impacting customer experience. That’s where having property handover software helps.
Here are some key tips for ensuring the success of a smooth transition between residents and helping to maintain the Property’s value using property handover software.
Ensuring a smooth property handover is crucial for the long-term well-being of the residential complex because it keeps everyone happy and things running without a hitch. If necessary, there’s a possibility that the transfer of all legal, financial, and operational aspects from the developer to the owner, i.e. the Owners Association, could be facilitated transparently and efficiently. This process sets the stage for handling community management effectively. Moreover, it helps real estate professionals to maintain a great reputation and keep everything moving smoothly.
Buying a property is a significant investment that involves more than just selecting a property and making a payment. The process extends to the crucial phase of property handover, especially for first-time buyers.
Let’s say, you’re a real estate developer who has just finished building a new residential complex. Now, it’s time to hand over the property key to the excited new homeowner. But before doing that, the property manager needs to follow some key steps as follows:
Let’s dive in,
The property handover process starts with a completion notice from the developer, followed by a thorough inspection before handing over the keys to the owner. The facilities management (FM) or inspection team evaluates the property to ensure that the property meets the agreed-upon standards and is in satisfactory condition for the owner.
The inspection team carefully examines every aspect of the unit – like the quality of the assets, the plumbing and electricity lines, and its overall finishing quality. They check for any defects or issues that may need to be fixed before the property handover.
During the inspection, the officer utilizes the pre-defined handover checklist from the inspection app to verify and capture any identified issues, ensuring that all snags are detected and recorded. There could be different checklists for different units depending on the assets available. The inspection team can then directly assign the listed snags to the available technician for resolution.
Let’s say that during an inspection, the officer detects that one of the bulbs in the hall is not working. The officer can then assign the available electrician from the inspection app, providing details and capturing an image of the defect.
The identified snags during the inspection are assigned to the technician responsible for resolution. The technician then resolves the assigned snags and updates their status in the app, with real-time changes reflected in the system.
For example, suppose an electrician receives a notification regarding a bulb that is not working. In that case, they replace the bulb with a new one and update the app to indicate that the issue has been resolved, including adding an image of the new bulb. The resolutions get automatically updated in the system upon completion of the inspection.
The system tracks real-time statuses of snags, aiding in processing, pausing, or resolving issues.
Property handover involves completing post-handover payment plans (if any) and issuing the occupancy certificates. Legal notices can be issued for recurring delays in handover or final payment from the customer. Additionally, units handed over can have assets eligible for a certain defect liability period. This refers to the warranty period of the assets after rectification during the inspection process.
For a real estate developer, time is of the essence, Property-xRM’s property handover software offers efficiency and customer-centricity. Its capabilities to automate and streamline the property handover process, capture real-time insights, minimize move-in delays, and ensure the swift resolution of issues have positioned, ultimately redefining the customer experience in the real estate industry.
If you’re ready to take your property management to the next level, consider implementing Property-xRM and watch your productivity and efficiency enhancing.
