Tracking Building Contracts and Insurance Expiry Alerts

To stop the lift maintenance contract or the building insurance from lapsing unnoticed, keep every contract and policy in one register with its start date, end date, value and any prepayment, and make sure a renewal reminder reaches the manager well before each expiry. Hamkhoneh building management software records contractor contracts, prepayments, loans, building assets and the building’s storeroom inside its full accounting (Pro and Elite plans), and on the Elite plan it alerts you before insurances and contracts expire.

This is not a guide to which insurance cover a block needs or what a caretaker’s contract should say; we have covered those separately. It is about the admin behind them: how a managing agent, residents’ committee or owners’ association keeps every running commitment in view, books a contractor’s advance correctly, and hands everything over intact when the committee changes.

How do service contracts and building insurance lapse without anyone noticing?

The pattern repeats across apartment blocks and compounds. Last year’s chair signed a twelve-month lift service agreement, filed the paper copy in the committee room, and stepped down at the annual meeting. The new committee never saw it. Months later the service engineer stops turning up, or the lift breaks down, and only then does someone discover the contract ended weeks ago.

The underlying causes are nearly always the same:

• One person holds the paperwork, often at home or as photos on a personal phone.
• Renewal dates are scattered: insurance renews on one date, the lift on another, cleaning monthly and fire extinguisher servicing once a year.
• Handover covers cash, not commitments: the outgoing committee reports the bank balance but not the contracts still running.
• Advances disappear into “expenses”: a contractor was paid part of the fee upfront, yet the books show only a cost, so nobody can tell how much work the building is still owed.

Which building contracts belong in your contract register?

Use the list below as a general starting point. Your building may not have all of these, or may have others. The aim is simple: no recurring commitment should live outside the register.

Have a lawyer or adviser review the terms of any contract; this table is purely for keeping the paperwork organised.

Recording contractor agreements in the building’s accounts

In Hamkhoneh, contractor contracts are part of building accounting, alongside loans, prepayments, building assets and the storeroom. These belong to full accounting, available on the Pro and Elite plans. A simple routine:

1. Enter the contract with its essentials: contractor, scope, total value, start and end dates.
2. Book any advance separately as a prepayment, not as a full expense.
3. Clear the prepayment against each instalment or progress invoice, so you always know how much work is done and how much the building is still owed.
4. Post the cost to the right category, such as lift, cleaning, security or plant. Income and expense categories are available on every plan.
5. File the supporting documents: the committee minutes approving the contract and correspondence with the contractor go into the internal secretariat and the archive of minutes and letters (Pro and Elite).

Why a contractor’s prepayment needs its own line

Take a hypothetical case. The committee hires a firm to refurbish the entrance lobby and pays half the price upfront. If that payment is booked straight to “repairs”, that month’s report shows a large spend although nothing has been delivered yet. And if the firm walks away halfway through, nothing in the accounts shows what it still owes the building.

Booked as a prepayment, the advance stays visible as money the contractor owes in work until the job is delivered, and it is cleared step by step as the work progresses. The year-end report presented to owners also becomes clearer, because people can see where the money went and how far the job has got. Volunteer treasurers who are not accountants can stay with the simple cash box and petty cash on any plan, and step up to full accounting on Pro when contracts and advances need proper tracking.

Insurance and contract expiry alerts: what the software does

On Hamkhoneh Elite the system alerts you before insurances and contracts expire. Instead of relying on someone’s memory or a wall calendar, the manager hears about a renewal in advance, with time to request quotes, compare offers and put the decision on the committee agenda.

Alerts are only as good as the data behind them, so start by entering every current contract with its end date. A few general habits help:

• Put renewals of big-ticket contracts, such as the lift and insurance, on the agenda of the meeting before they fall due.
• If you plan to change contractor, appoint the new one before the old contract ends so the building is never without cover or service.
• When lift servicing or a water shut-off is scheduled, tell residents by SMS notice; bulk SMS notices are on every plan.
• Managing agents running several blocks can see all buildings from one account on Elite and follow every renewal date in one place.

What to check before renewing a lift maintenance contract

An alert only starts the clock; the real decision is whether to stay with the same contractor. Some general yardsticks:

• Repair request history: Hamkhoneh logs repair requests and their follow-up on every plan, so before renewing, look at how many requests the lift or plant generated last year and how long each took to close.
• What you actually spent: compare the total in the lift expense category with the contract value; parts and call-outs outside the contract can exceed the contract itself. The Excel export makes this quick.
• Scope: be clear about what the fee covers and what is charged extra.
• Owners’ views: for costly decisions, Hamkhoneh’s online polls (on every plan) are an easy way to hear from owners.

Handing over contracts when the committee changes

A change of committee is the perfect moment to tidy the register. When everything lives in the system, handover means granting access to the new members rather than passing on a box of folders. Hamkhoneh has separate roles for manager, board members, accountant, owner, tenant and guard, and you can withdraw a single permission from one person. Suggested contents of the handover note:

• All active contracts with end dates and unpaid balances.
• Advances not yet cleared against delivered work.
• Current insurance policies and each renewal date.
• Building assets and storeroom items, such as spare bulbs and parts, recorded in the accounts.
• Any loans the building has taken or given.

Which Hamkhoneh plan fits contract tracking?

For choosing cover, read our building insurance guide; for staff agreements see caretaker and guard duties and contracts. To set money aside for renewals and major works, see the building maintenance reserve fund.

Frequently Asked Questions

Which Hamkhoneh plan includes insurance expiry alerts?

Alerts before insurances and contracts expire are on the Elite plan, which also lets you manage several buildings from one account.

Can a contractor’s advance be recorded separately from expenses?

Yes. Prepayments, contractor contracts, loans, assets and the building storeroom are recorded in Hamkhoneh’s full accounting, available on Pro and Elite.

Our treasurer is a volunteer, not an accountant. Is this too complex?

No. Categorised income and expenses with a simple cash box and petty cash are built for non-accountants and come with every plan; full accounting is there when you need it.

Where should we keep the minutes approving a contract?

In Hamkhoneh’s internal secretariat and archive of minutes and letters, on Pro and Elite, so the next committee can find them too.

Does Hamkhoneh give advice on contract terms or insurance premiums?

No. The software records and tracks; contract terms and insurance choices should be reviewed with your own adviser or lawyer.

Want to see a contract register and renewal alerts working with your own building’s details? Visit the Hamkhoneh building management software page and request a demo.

Further reading

• What Is Building Management Software and What Can It Do?
• How to Choose the Best Building Management Software: A Buyer’s Guide (2026)
• Best Way to Manage Building Service Charges for Residential Complexes

Complete guide: building management software