Efficient, Competent, trustees and managing agents crucial to the success of estate and communal projects, says Asrin director

Asrin Property Developers, says their Marketing and Sales Director, Shiraaz Hassan, have over the years received praise for their ability to handle the entire development process – from the initial due diligence and market surveys, through to the appointment of professionals, the procuring of funding, the marketing, construction and the assistance given to purchasers in securing end user bonds – but, says Hassan, just as important as all these aspects of development in any communal scheme are the setting up of the Homeowners’ Association and the appointment of the managing agent.

“Once a scheme is up and running,”, “the Homeowners’ Association and the managing agent they appoint have a huge impact on its marketability and capital growth. An unpopular or inefficient HOA can ruin the potential of a project but with good trustees representing the interests of the homeowners, the scheme will increase in popularity.”

Particularly important, says Hassan, is the managing agent’s ability to control the service providers, especially the security, the landscape and maintenance contractors.

“They should have a contract in which their duties are clearly defined – and they should be closely monitored to see that they perform in line with this,” said Hassan.

Also of great importance, said Hassan, is the managing agents/developers’ ability to liaise with the new buyers to ensure that, if they are designing and building for themselves (i.e. not taking over a pre-designed package deal) they understand the architectural guidelines and the estate’s rules and constitution. Copies of these, he said, should be attached to the deed of sale and discussed with the buyer and his designer to avoid problems later – a rejection of, or major alterations to, a design can cause huge resentment.

Asrin, said Hassan, is one of the few developers that gives in-depth attention to the developments up to and past the time that the last unit is sold and they have learned to understand the concepts that bring about a successful Homeowners’ Association – and a joyous spirit within the community.

“Communal estates will become increasingly popular because they offer greatly improved security, friendly interaction with one’s neighbours and communal facilities – but the developer must appoint an effective managing agent from inception.”

Article from: www.asrin.co.za