Developer Consultancy

Setting up complex new Strata titled Developments

The platinum team partnered with a few high-profile developers at Docklands and elsewhere to set up the Owners Corporation management structure with their seriously complex strata-titled developments.

Specialised services offered to Developers

Preparation of budgets, obtaining actual quotes for service contracts

No setup costs, including issuing of Owners Corporation Certificates at no charge

Establishment of the Owners Corporation inhouse without external legal assistance

Teamed up with Insurance Brokers experienced in handling large developments

Development support with a detailed review of all building plans to provide feedback

Assisting the establishment of Owners Corporations Rules

Handling all matters related to fulfilling legislative compliance obligations

Setting up facility maintenance schedules

Review of Plan of subdivisions

Establishing or setting up Owners Corporation where experience counts

1. Initial engagement with the Developer

Getting ourselves involved at the earliest stages of construction would afford the time to have everything prepared with future strata management structures in mind. It will also enable us to prepare the proposed budgets well in advance for prospective purchasers.

Nevertheless, even if the upcoming project is already completed, we can still prepare all the documentation, including the OC Certificates, within hours.

2. Site inspections and assessment of the Plan of Subdivision

This helps us allocate costs between multiple OCs, prepare budgets, and obtain quotations from insurance companies.

At this final stage, recommendations will be made to the land surveyor with future strata management-related complications foreseen.

3. Organize an inaugural General Meeting to comply with the legislation

At this crucial step, all contracts are signed, and minutes are prepared to pave the way for the future management of the complex.

4. Confirm Insurance Cover upon the registration of the building

We will commence the strata insurance policy upon the issuance of occupancy permits for the development, and the premium is to be paid for by the developer, whereas the cost will then be reimbursed via pro-rata adjustments which the developer’s solicitor arranges at settlement.

5. Issue Owners Corporation Certificates on request

Before issuing the Owners Corporation Certificates to the developer’s legal representative, all other documents are to be in place for the contract to be used in the contracts of sale, including certificate of insurance currency, IGM minutes and signed agreement of strata and building management appointments.

6. Finalising the property take over from the hands of the Developers

At the crucial moment, the extensive checklist of activities will be carried out by us, including obtaining copies of all relevant drawings, manuals and keys. Secondly, Landata (land titles office) is notified, and the manager’s plaque is mounted.

7. Program in place to protect the goodwill of Developer

Accordingly, we will protect the developer’s goodwill by working together long after the end of the construction phase.
We also believe that the proactive role of the Strata Manager is to help enhance the developer’s reputation by working together to protect the fruits of their labour.

8. Owners Corporations Management by Platinum Strata Community Management

With the majority of settlements in place, Platinum shall schedule the AGM where all things considered; a whole new budget will be presented to the Owners Corporation Members for approval. The Strata Property is now deemed to be in the hands of the Owners Corporation at this stage.

Our expertise extends beyond setting up and managing Owners Corporations. From high-rise residential estates and commercial properties with mixed-use to master-planned estates, it’s all about empowering developers to fulfil the best industry guidelines when setting up an Owners Corporation, going above and beyond the basic legal requirements.

We want to become part of your team from the development stage to the end. We can also provide advice and consultancy on all aspects of setting up a development that can be seriously complex.

With years of experience, we can foresee strata management-related complications from the proposed subdivision plan if not designed intuitively with utmost foresight.
The managers would prefer to work with the land surveyors to provide insight into designing plans of subdivision and to work with the property marketing agents/developers in assisting in:

Drafting budgets
Draft levy schedules
Preparation of draft rules
Owners Corporations Certificates
Owners Corporation Agreements etc.

Above all, setting up Owners Corporation with Multiple OCs can be very complex. Due to our manpower, Platinum boasts of being able to set up or establish any type of Owners corporation with the following:

Budgets
Property manuals
Web portals
Books
Records
Move-in-procedures
and administrative procedures in accordance with the legislation within 48 hours, regardless of the size.

Protecting Developer Goodwill

It is important to note that the initial owner (the developer) has been in control of the majority of the Owners Corporation, for a while, from the registration of the plan of subdivision.

Accordingly, we will protect the developer’s goodwill by working together long after the end of the construction phase. The following legal obligations would be observed in all areas;

Act honestly, in good faith and with due care and diligence in the interests of the owners corporation
Take all reasonable steps to enforce any domestic building contract that affects the Owners Corporation.

We also believe that the proactive role of the Strata Manager is to help enhance the developer’s reputation by working together to protect the fruits of their labour.