MyPropMan for Property Developers

Developers spend a lot of time and money designing, building, advertising and then selling their properties, and on most developments, developers advertise their name on their buildings, they are proud to do this to show people their vision, the quality of their design, build and finish.
Unfortunately, in the long term this can become a problem if the development is not managed correctly, in line with relevant laws, and if this happens despite the fact that in most cases it is not the developers’ fault that the development is not being managed fully and correctly in line with relevant laws, there is still a negative association with the developer’s name.
In the past many developers have attempted to self-manage their developments, unfortunately although they are professionals in property developing, they are not professionals in property management therefore do not have 100% knowledge of what is legally required or what should be taken into consideration, or how to calculate relevant Table A and Table B, thus they soon run into trouble especially when owners question the calculations and do not pay.

This scenario is now in the past, with the assistance of MyPropMan developers can now setup or self-manage their developments in line with relevant laws without them having to be experts in the field of communal property management. Using MyPropMan is extremely easy, it is a cloud based communal property management software package which has the ability, by inserting a few key details to calculate everything that is required for the legal communal property management of apartment blocks, comp​lexes and estates in The Republic of Cyprus, and at a touch of a button generate all the legally required paperwork and reports for each owner and for the management committee.

Once a development has been added to MyPropMan the developer can be comfortable if the owners of the development then decide to manage the development via management committee, or via property management company, as they will continue using MyPropMan software which means that the development will always remain legally compliant and well maintained.

Developers can also use MyPropMan as a sales aid to assist them with the sale of each property. By calculating development Table B (which is the percentage which each unit has to contribute towards development expenditure) and also establishing estimated expenditure for the development, it is then possible to inform prospective clients of actual costs for the running of their development’s services, facilities and general maintenance, to include what percentage each unit contributes to that expenditure, and by doing this the development to include it’s services and facilities will remain fully functional and well maintained at all times. Also, when owners know the full facts prior to purchasing it is more likely that they will accept the cost and this practically eliminates issues like non-payment of service charges.

There is no limits to the number of developments under your management or how each development is managed. Each development can be managed differently, whether as 1 cost centre or multiple cost centres. Example being – 1 of the developments under your management is a development which has 5 separate apartment blocks (or 4 apartment blocks and a number of houses), you may manage this as 1 cost centre with all the units grouped together, or 6 cost centres, 1 per apartment block, (1 for the houses) and 1 for the complexes jointly owned communal areas, services and facilities.

No one is paying for something that does not belong to them, the owners from each cost centre are responsible for their own cost centres expenditure and all units contribute towards the complex expenditure. This might sound complicated, of which it is if you are manually carrying out the calculations but with MyPropMan it is extremely easy because it does the calculations for you.