Business-Solutions
Real Estate Management System
Overview
Real estate system
NAMA for real estate provides multiple systems that cover all real estate activities from recording the real estate in details, selling, renting, till monitoring the collecting of owner, bank, and commissions in an interactive environment that saves a lot of time and effort.
Features
Registration of all real estate data
NAMA allows recording all data of the real estate such as region, address, the area, the width of surrounding streets, the information of the owner and buyer,..etc, in addition to the capability of attaching any number of documents in each real estate record such as the contracts of sale or rent, identity card copies for owner and buyer.., and so on.
Regulatory environment
NAMA provides many master files for all types of real estates, where you can define squares that includes blocks. Each block contains lands and buildings. Each building contains a number of floors and finally the floor consists of a number of apartment. You can create a unit group that contains many apartments. Definitely, the system allows changing these names according to the customers desires. In addition to that, all these real estates could be linked to a specific project.
Several systems for real estates
NAMA supports all business transactions for real estates, as the following examples:
- Complete sale for real estate with determining a percentage discount for cash and another price according to the number of installments.
- Multiple installments systems with determining the value of each installment. NAMA also provides a mechanism to insert installments automatically according to the applied installment system.
- NAMA supports all details of the sales procedures such as the apartment price, payment in advance, reservation payment, the commission required from seller and buyer.
- Reserving the real estate by an earnest so that the real estate could not be sold unless the earnest is returned.
Sequential sales cycle
NAMA Provides a reservation system whether this reservation is temporary with determining its validation date or normal with determining the reservation value, persons, contract persons, and the specifications of the reserved real estate in order to either confirm this reservation or cancel it.
Comprehensive documents to record expenses and collecting
Without having to switch from the real estate module, user can issue the following documents:
- Collecting documents related to rents, sales, and reservation with inserting details such as collected value, the type of collected item (Sale, Insurance, Maintenance cost, commission,..etc), with inserting the data of mediator, collector, the amounts to be transferred to the bank, and any other attachments.
- The system allows transferring the ownership of a real estate from an owner to another, where there is a specific document to transfer ownership of a real estate many times with the capability of displaying these data in reports.
- Documents for maintenance expenses at the level of each apartment.
- Expenses requests for both owner and bank with the capability of issuing many collecting documents to be paid all at once.
Complete flexibility to define the rent process
NAMA provides detailed information for the rent procedures in addition to following up the rent dues periodically. Via the rent contract document, you can define the following data:
- Contract persons such as owner, buyer, salesman, and others.
- Required rent period with determining the start and end date, rent type such as monthly, quarterly, yearly,..etc, in addition to detailed information for the purposes of renting the apartment .
- Financial information of the contract such as the yearly increase, the cost of maintenance and water, the insurance percentage, and the commission,…etc.
- The capability to define rented apartment including its owner, electricity meter number and any other information.
- Applied discounts per each year of the rent period according to the contract agreement.
- User can display all dues rents including the rent value, due date and other information; Furthermore, user can issue all collecting documents for the renter, and automatically insert paid and remaining payments.
NAMA allows cancelling the contract at any time via a specific document to finish the relation between owner and renter and liquidate the insurance expenses with explaining the cancellation reason in addition to the capability of attaching any files to document the contract termination
Full support for commission system
NAMA supports the commission system that is used in some countries which means defining a third person between the owner and buyer/renter. This person follows up the real estate and collects the installment payments or the rent value in addition to the services prices, maintenance expenses from the buyer/renter. NAMA allows defining the commission value as a percentage or a fixed value. The same way, services value are defined as a percentage such as 2% of the annual rent or a fixed value such as 400 Riyals for water expenses per each apartment.
Monitoring the collecting process
Via NAMA system, you can monitor the investment of each real estate whether by following up the rents or the installment payments as the following examples:
- NAMA provides a notification system to notify the user by the approaching of payment date, bank collecting, the end of rent period, the reservation date or any other event may be important for the owner or the beneficiary. NAMA provides multiple ways for alarms such as the notifications that appear on the system interface or by e-mail or SMS.
- Issuing the periodic collecting documents for the owner, services, or for the commission according to the agreement between owner and beneficiary such that each type of collecting is related to a specific book and a different numbering style.
- Issuing the documents for the bank and linking them with the daily collecting for commission.
- NAMA provides reports for collecting, the payment status for each beneficiary and the status of each real estate in terms of reservation, availability for sale and other information according to the user desire so as to have instantaneously information for each real estate.
Full linking between the system components
The real estate components are linked with each other so as to provide an interactive environment for the user as the following examples:
- Linking between owner, buyer, and collector.
- Linking between different real estates. For example, the system will prevent user from selling a block while it contains some lands that were sold before.
- The system inserts the owner name when inserting any of his real estate.
- Linking the owner with buildings and the renter
- The system reauthorize selling the real estate upon returning the earnest.
Interactive environment to save time and effort
NAMA saves a lot of time and effort while issuing the real estate documents and monitoring the cycle of sales and renting as the following examples:
- Via the details tab screen of real states files, you can view all components of any real estate according to the Hierarchical description. For example, you can display all apartments existing in any building, all blocks in any square, and so on.
- You can issue reservation and sales documents via the lands records.
- Issuing the apartments from building records, buildings from blocks records, and blocks from the squares records, and so on.
- collecting payment documents related to a specific owner or bank via one payment request in order to pay all these payments all at once.
- Creating a reservation document based on a reservation request, and a sales or collecting document based on the reservation.
- Issuing the installments, and payment documents automatically via the sale contract.
- Creating rent and collecting documents based on the rent contract.