Solutions for Developers
Vacant Possession: Ensuring a smooth transition from completion to handover
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“Are you having trouble arranging for the handover of keys for your newly completed site?”
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“Need a reputable, experienced & professional Property Manager who can assist in establishing the JMB and managing your building?”
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“Would you like us to take the burden off your shoulders so that you can focus on expanding your property development without worrying about the management of your existing sites?”
We Offer Seamless Property Management
Many Developers are faced with the questions above the moment they complete a new property. However, at Benz & Carlton, we personally assure you that we are the solution you are looking for. Over the years, we noticed that the Biggest Problems Faced by Developers during the handover period is:
Vacant Possession
- Pre-inspection before Vacant Possession
- Joint Inspection with the Purchasers
- Monitoring Internal Unit Defects and liaising with Project Division and Purchaser to ensure rectifications are completed
- Monitoring Renovations
- Handing over of keys, House Rules, Access Cards, Car Stickers, etc.
Common Area
Handing over of Common Areas from the Main and/or Sub-Contractors for:
- Facilities (Swimming Pool, Gym, Playground, Sauna, etc.)
- M&E (Gen-Set, LV Room, CCTV, Barrier Gate, Cold Water System, Fire Fighting System, Riser Room, etc.)
We handle JMB formation too
As per the Building Common & Property Act 2007 & the Strata Management Act 2013, a Developer needs to form the Joint Management Body within 1 year of vacant possession.
As such, the Developer is faced with more work like:
- Ensuring that the collections are done on time to ensure smooth sailing of the property and that all vendors/service providers are paid off until the formation of the JMB
- Liaising with Commissioner of Building (COB) and providing them with updates on the status of the building and the JMB formation
- Maintaining the overall appeal and M&E matters related to the building
- Monitoring & supervising the service providers
- Contacting all purchasers and preparing the necessary paperwork for the formation of the JMB
- Conducting the 1st AGM for the formation of JMB
Unlike other conventional Property Managers who only take over after the formation of the JMB, we assume management at the infant stage, i.e. from the point of completion of the building.
Hence, we are capable of alleviating the burden of inspection, defects monitoring, handover of keys, day-to-day management of the building as well as the formation of JMB.
Your One-Stop Centre
Assisting with the issuance of Vacant Possession Letters
We have skilled & well-trained people for the process of handing over keys.
Continue to follow up with the defects after the initial inspection until the purchaser is satisfied and all keys are collected.
We provide skilled and experienced personnel to cater to your needs.
We provide real estate agent services to assist in the sale/lease of your and your purchaser’s units.
We are well experienced in BCP & ST Acts and are able to assist in the formation of the Joint Management Body (JMB) or the Management Corporation (MC).
FAQs
Vacant possession is the buyer’s right to utilise the property upon completing the selling process solely. Hence, the term “sold with vacant possession” simply means the sold property must be empty of existing tenants, other occupiers, and belongings (other than those agreed to be left in the contract) on the day you complete your purchase or sale.Vacant possession is the buyer’s right to utilise the property upon completing the selling process solely. Hence, the term “sold with vacant possession” simply means the sold property must be empty of existing tenants, other occupiers, and belongings (other than those agreed to be left in the contract) on the day you complete your purchase or sale.
Buying or selling properties with “vacant possession” entails the property must be empty on the day of completion. Therefore, the sellers or tenants need to move out and remove all belongings except for agreed items.
In Malaysia, property management companies offer vacant possession services like:
- Pre-inspecting the vacant possession
- Jointly inspecting with the purchasers
- Monitoring internal unit defects
- Liaising with Project Division and Purchaser
- Supervising renovations
- Handing over keys, house rules, access cards, car stickers, and others.
Find out more on how Benz & Carlton can assist you
Benz & Carlton is more than glad to be of service to you.