Apply for a virtual mailing address

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Your vendors will send their invoice(s) to your MA, so will your banker, sending your monthly bank statement to your MA.

Question : What happened when you change your MA?

Answer 1 : Your new MA will have to inform all your vendors and banker a change of mailing address. Informing your vendors are much easier but not for your bank. The bank will need the authorised signatories a duly signed form to inform the bank a change of address, meanwhile, your former MA will still receive your mails and to continue to do work for your MCST without being paid left a bad after taste.

Answer 2 : Apply a My mailbox (Business) account 
When you change your MA, you just need to inform Singpost a change of the actual mailing address (Your new MA address) instead of informing 30 over parties

We find this mailbox service awesome because it save you a lot of hassle for a mere SGD100.00 per year (at this point of time this blog is written),

You will not have any excuses or delays anymore, because “the mail was sent to the former MA”

 

Writer : Choo Hong Peng,
Chartered Accountant,Singapore

Email   : choohp@realtimme.net

Updated as at 19/08/2020

 

What are the pains of changing MA…or the pains the new MA faces ?

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Assuming the Management Committee (MC)  agreed to change the current Managing Agent (MA). The handing over process are the physical items, pending tasks, follow ups etc.

However, most often then not… a lot of information is not documented and transparent, and someone will drop the ball and another will have to attempt to pick it up from there.

Emails, outstanding tasks, feedback, accounting data , change of mailing address and more….how can all these be centrally managed so that new MA can continue from where it is stopped?

You can have a good checklists of handing over and taking over (if you are an experienced MA), however, if there are 2 payment voucher files, you only see the 2 files, what about the completeness of the payment vouchers documents? Are they in proper order and no one piece is missing?

For the new MA, if the condominium has 400 residents, you have to record in your own system the 400 residents profile in your accounts receivables again, so that you can do your quarterly billing.

How are you going to trace back the email trails or correspondences between the SP and the former or 2MA ago ?

In the earlier days, there weren’t much tools to manage all these issues so each MA hold a small part of your MCST history.

But not anymore, with cloud technology and our MCST software,
1. Status of facilities booking,
2. Feedbacks and follow ups
3. SMS and email trails
4. Residents’ (SP and/or tenants) profiles
5. Forms and documents

These are things of the past. All information will remain with the MCST and the MC is empowered with the information with better transparency.

Whether you are a new MA, you move in with all things clear and neat, all on the silver platter, and for the former MA, you move on with no string attached.

We have a proper Standard Operating Procedures, training videos and help files that explain the processes that comes with our mcstsoftware solutions just to make your work easier and your team more efficient.

We will continue to be your IT support to maintain the information for as long as you want us to.

FAQ: What if we want to drop your service?
Answer : We want to know why? But if you still do, we just have to part. But you can still access the information for a fee of $100 per year for the storage space, until the information is no more relevant. We will disconnect your database from our server.

PS : To all MC, unfortunately, your new MA or your current MA do have have a vested interest to push for such a system and the decision is much rest on you to see the benefits of a centralised information system where it can be shared out to the various stake holders.

 

 

 

Writer : Choo Hong Peng,
Chartered Accountant,Singapore

Email   : choohp@realtimme.net