MyCom, the Middle East’s most comprehensive web-based Owners Association management and financial system, is used by Developers and General Managers of Owners Associations to help them comply with the requirements of the new strata law. 

Benefits for Developers and Managers

- All management and financial tools available in one system

- Exclusively interfaced to Government systems and databases

- Compliant with local strata laws

- Software can be accessed from anywhere, anytime over the web

- No expensive servers or IT infrastructure required

- Secure online payment gateway for service charges, interfaced to Mollak 

- Extensive training and customer support provided

- Future development plans for Mollak

Benefits for Owners and Residents 

- Secure online payment of service charges

- Online access to important documents such as minutes & financial reports

- All Owners Association documents e-mailed as PDF reports

- Online voting for Owners meetings *

- Community web portals *

- Log and track maintenance requests *

*Features under development and coming soon

Management Tools

The MyCom system is available for use by Developers, General Managers and real estate professionals. The system has an extensive list of management features specifically designed for Owners Association management.

Some of the management tools available include:

- Customer Relationship Management (CRM)

- Calendar

- E-mail and Outlook integration

- Word Processing

- Document Management

- Customized global and building-specific templates

- Management Agreement preparation

- Management Fee and Disbursement Invoicing

- Automated tracking and billing of disbursements and time-related billing

- Current and historical data storage for each Owners Association

- Work Orders and Requests for Quotes

- Contractor Management

- Meeting Management including preparation of notices and minutes

- Activity Management and Key Date Tracking

- Online Community Web Portals*

- Online Voting and Online Attendance at OA Meetings*

- Extensive management reporting on a building-by-building basis and across multiple buildings

*Features under development and coming soon

In partnership with RERA and some of the Dubai Government’s technology partners including Cisco Webex, these management tools will be continually enhanced and added to for the benefit of all real estate communities throughout Dubai and more widely throughout the Middle East.

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Financial Tools

The MyCom system includes a comprehensive cash book and accrual accounting, invoicing and reporting system designed specifically for Owners Association Management. The accounting system will soon be interfaced to an electronic payment gateway, meaning owners and investors can pay service charges from anywhere in the world in a secure, online interface.

Some of the financial tools available include:

- Budgeting for annual service charges

- 10-year Reserve Fund forecasting

- Invoicing of Service Charges including ability to e-mail all invoices

- Invoicing of other charges such as security keys or swipe cards

- Electronic payment gateway for payment of service charges *

- Automatic reconciliation of service charge payments to Owners Association bank account *

- Ability to set-up multiple ‘accounts’ such as investment and security deposit accounts

- General Ledger

- Accounts Payable Ledger

- Accounts Receivable Ledger

- VAT reporting *

- Individual Owner and 3rd Party Ledgers

- Management Fee and Disbursement Invoicing

- Automated tracking and billing of disbursements and time-related billing

- Extensive industry-wide chart of accounts that can be customized for each building

- Extensive financial reporting on a building-by-building basis and across multiple buildings

* Features under development and coming soon

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Community Web Portals

In partnership with Cisco Webex, Mycom will soon offer community web portals for Dubai strata communities. These web portals, customized for the requirements of each community will give residents, owners and investors access to information, documentation, products, services and interactive tools unique to the community they live in or own.

Read more...

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Software-as-a-Service

Software-as-a-Service (SaaS) put simply is a term used to describe an application delivered over the Internet.

MyCom is a SaaS system, hosted in a secure Dubai Government data centre. Unlike software-based systems that are installed in your local IT environment, Mollak hosts, maintains, upgrades and supports the software. Mollak even manages tasks such as data back-up and disaster recovery procedures.  All you, your staff and your clients need is a web browser to access it.

The benefits of the MyCom SaaS software are…

- Minimal hardware and software requirements 

- Branch offices are automatically and inexpensively linked 

- Managers can easily operate from multiple communities

- Regular upgrades to the software without disruption or compatibility issues

- Significant reduction in need for onsite technical support 

- Professional system hosting and maintenance to the highest standards 

- Ongoing investment in IT infrastructure paid for by the software vendor

- Positions you and your communities to benefit as the web develops further