Tag Archives: Property Management

URA launches free private property app

Posted on 14 Apr 2011 | Comments Off on URA launches free private property app

HOME-BUYERS can now have easy access to property market information on the go from their iPhones and iPads.

The Urban Redevelopment Authority (URA) yesterday launched its new and free ‘Property Market Information, Singapore’ application as part of its efforts to enhance the transparency of the property market.

The new app allows interested parties to have easy access to transaction prices and rentals for different private housing projects by project name, street name, and district.

Users can also see the prices of all private residential units transacted in a particular area or within a certain radius of a showflat on a map.

‘This new service will empower home-buyers with accurate and comprehensive information on private housing projects and encourage them to look at all available market information before making a purchase decision,’ URA said.

‘Home-buyers and those looking to rent a private residential property can compare and consider carefully prices and rentals across different properties before making a commitment.’

The app is now available for download from Apple’s App Store. URA also plans to make the app available on Android phones in the fourth quarter of this year.

URA has also enhanced the property market information eServices on its website to provide more information and greater convenience to users, it said.

Among other things, key features of the enhanced eServices include a new map-based search function and viewing of data, and new functions for plotting graphs with property data.

Source : Business Times 14 Apr 11

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How condos protect their funds

Posted on 31 Oct 2009 | Comments Off on How condos protect their funds

SOME managing agents of condominiums here are not allowed to sign on cheques to make payments on behalf of the estates they run. Such duties are usually entrusted to the estate’s management councils. Usually, at least two signatures – that of the chairman and treasurer or secretary – are needed for cheque payments.

It is a safeguard against possible misappropriation of funds by managing agents, said Mr Vijayen Nair, a property manager from Philip Motha Property Management, which runs about 30 condominiums and commercial buildings here.

The 52-year-old, who manages The 101 complex – a residential and commercial building in Beach Road, keeps the cheque books to the estate’s funds under lock and key. His employees have to present invoices and purchase orders for him to verify before he writes the cheques. They will then get the necessary signatures from the estate’s council members. ‘If any money goes missing, I become personally liable,’ he told The Straits Times.

Mr Chan Kok Hong, managing director of CKH Strata Management which looks after 95 condominiums, said his firm has become increasingly reliant on Internet banking to keep tabs on the money that goes in and out of an estate’s fund. ‘Its faster to track this way. With Internet banking, I can verify almost immediately that the money has been deposited, rather than wait for the bank slip at the end of the month.’ Continue reading →

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