We provide advice and solutions for Home Owners Associations and Strata Management. With our experience in property management we have a vast knowledge in legal, financial, technical and administrative aspects of Home Owners Association Management.
Home Owners Association Establishment including assistance with board election, association’s registration with municipality, preparation of by-laws and Home Owners Guide
Financial Management Services including opening Association’s bank account and implementing necessary financial arrangements, preparation of Service Charge reviews and budgets, service charge collection and depositing. As a part of financial services we will process and pay invoices for work carried out on behalf of the association, maintain accounting records, prepare and present budgets and statements and arrange audits.
Administration Services including maintaining records and registers, obtaining necessary licenses, liaising with the notary and other government organizations on behalf of the Association, preparing and distributing meeting agendas and minutes, holding meetings, arranging insurance valuations and preparing insurance claims if necessary.
Contract Supervision and Asset Management including maintenance services supervision, preparation of preventive maintenance programs, reviewing quotations, supervision of repairs and warranty claims and fire safety regulations compliance.
What is the purpose of Home Owners Association?
The Owners Association is an establishment aimed to manage the owners’ relationships with each other. The Association shall, in particular, carry out the following duties:
1 . Managing and maintaining the common parts and facilities in the property
2 . Ensuring good utilization of the property
3 . Safeguarding the property
4 . Consolidating social relationships among the owners to maintain good neighborliness and encouraging community work
When is the Owners Association formed?
The Owners Association is legally formed upon issuance of the first title deed for a unit within the Jointly Owned Property. The Home Owners Association must be registered with district Municipality.
The Home Owners Association is established at the General Assembly Meeting which should be attended by all home owners or their representatives. When electing the chairman and board members home owners should consider the fact that the board members should always be readily available in Bahrain for signing of pertinent documents in the Notary Public Office and district Municipality.
The board will be responsible for managing the affairs of the Home Owners Association, either by appointing an association manager or by contracting a management company.
After the Home Owners Association is formed the by-laws should be drafted and approved by the home owners.
What is service charge?
The service charge is the annual fee approved by the Home Owner Association which represents the cost of managing and maintaining the common areas in the Property. It comprises: : expenses related to: