Showing posts with label Condo fee. Show all posts
Showing posts with label Condo fee. Show all posts
Sunday, February 7, 2010
Defaulter List On Notice Board
The Management has put up the Defaulter List on the Notice Board. Members of the Prima Duta Management Corporation are to be informed of the collection problem faced by the Management. The total outstanding is approximately RM44K as at 1st February, 2010.
Saturday, January 23, 2010
Pay up, building owners warned
The Star, Nation, Saturday January 23, 2010
PETALING JAYA: Owners of units in strata-title buildings may find their possessions auctioned by the Commissioner of Buildings (COB) if they do not settle their outstanding maintenance fees.
This is provided for under the Building and Common Property (Management and Maintenance) Act, said Housing and Local Government Minister Datuk Seri Kong Cho Ha.
State governments are empowered to appoint a COB to settle disputes and to smooth management of the buildings even after strata titles are issued.
“All buildings that have strata titles are governed under this Act. It can be a luxury project, an old project — there is no difference.
“The maintenance is the responsibility of the joint management body (JMB), of which owners are members.
“It is the responsibility of owners to pay the maintenance fees,” he said.
Kong said the Act allowed the COB to auction items found inside the units, such as furniture and electrical items, to offset the amount defaulted by the owners.
“When housebuyers sign the sales and purchase agreement, they must know their responsibilities,” he said, adding that the ministry would host a series of seminars from Feb 6 to educate JMBs on the issue.
PETALING JAYA: Owners of units in strata-title buildings may find their possessions auctioned by the Commissioner of Buildings (COB) if they do not settle their outstanding maintenance fees.
This is provided for under the Building and Common Property (Management and Maintenance) Act, said Housing and Local Government Minister Datuk Seri Kong Cho Ha.
State governments are empowered to appoint a COB to settle disputes and to smooth management of the buildings even after strata titles are issued.
“All buildings that have strata titles are governed under this Act. It can be a luxury project, an old project — there is no difference.
“The maintenance is the responsibility of the joint management body (JMB), of which owners are members.
“It is the responsibility of owners to pay the maintenance fees,” he said.
Kong said the Act allowed the COB to auction items found inside the units, such as furniture and electrical items, to offset the amount defaulted by the owners.
“When housebuyers sign the sales and purchase agreement, they must know their responsibilities,” he said, adding that the ministry would host a series of seminars from Feb 6 to educate JMBs on the issue.
Saturday, December 26, 2009
Condo Fee a.k.a. Maintenance Fee
There are many reasons why people chose to buy a condo instead of a landed property. My few reasons are location, security and amenities (swimming pool, tennis court and the like). It's common sense that to enjoy the facilities of a condominium, these facilities must be taken care of for life.
The cost of providing the best in security and maintenance of amenities (pool, landscape, etc) is high. This cost is shared among the owners in paying a monthly condo fee to the management corporation. Condo fees cover items such as security services, building maintenance, a master insurance policy, parking lot maintenance, elevator maintenance, landscape maintenance, management, amenities, common utilities, sinking fund and more.
In other words, the management corporation needs to collect the money to take good care of the condominium. When a condominium is well taken care of, the value will increase and so will the rental. Everyone wishes that the value of their properties to increase over time, the more the better.
Many condominiums are run down because of late payment, delinquent owners and hardcore defaulters. When the percentage of these is high, the management will not have enough fund to upkeep the condominium. Frequent elevator break-down, dirty pool, landscaping neglected, large sum of unpaid water bill and poor security service are the usual problems arising. When this happens, other good paymasters will stop paying also. It'll become unbearable for everyone and also causes the property values to drop sharply.
Lets do our part in paying our condo fees promptly. Make it our new year aim to have zero defaulter so that money and manpower won't be wasted on sending reminder letters or spending on legal fees.
The cost of providing the best in security and maintenance of amenities (pool, landscape, etc) is high. This cost is shared among the owners in paying a monthly condo fee to the management corporation. Condo fees cover items such as security services, building maintenance, a master insurance policy, parking lot maintenance, elevator maintenance, landscape maintenance, management, amenities, common utilities, sinking fund and more.
In other words, the management corporation needs to collect the money to take good care of the condominium. When a condominium is well taken care of, the value will increase and so will the rental. Everyone wishes that the value of their properties to increase over time, the more the better.
Many condominiums are run down because of late payment, delinquent owners and hardcore defaulters. When the percentage of these is high, the management will not have enough fund to upkeep the condominium. Frequent elevator break-down, dirty pool, landscaping neglected, large sum of unpaid water bill and poor security service are the usual problems arising. When this happens, other good paymasters will stop paying also. It'll become unbearable for everyone and also causes the property values to drop sharply.
Lets do our part in paying our condo fees promptly. Make it our new year aim to have zero defaulter so that money and manpower won't be wasted on sending reminder letters or spending on legal fees.
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