QUOTE(UnderTheSun @ Apr 5 2014, 07:52 PM)
Good discussion here.
To those who plan to buy a property with strata title (whether condo or landed strata), think twice if you feel you cannot cope with maintenance fee that will increase from time to time. Otherwise, you see people bashing at you for not being able to pay the maintenance fee, like some of them here.
That is my point. Becareful in chosing property with strata. Read Strata Title Act first! The developer can sue you in court. You can be fined or even jailed. On top of that, they can sell your car or tv or fridge or other moveable properties to recover the outstanding payment.
Remember. Maintenance are due monthly even after you finished paying the loan. And even when you are dying. There is no waiver under Strata Title Act.
This maintenance fee is not set by you. It is set by the Joint Management Committee in which the developer is a member. You may say the amount is high, but they may say the amount is reasonable. In the end, you have to listen to them and pay the amount. So, before you buy, think carefully. Like some people here say, if you think you cannot cope with it, choose a property with an individual title.
Best of luck in finding your home sweet home!
bro, developer is one of the members in jmc only, others are purchaser, thus dun think they will come out with an unacceptable rate.. in addition, jmc finally will be dissolved and replaced with management corporations which the members are purchasers only woh.. To those who plan to buy a property with strata title (whether condo or landed strata), think twice if you feel you cannot cope with maintenance fee that will increase from time to time. Otherwise, you see people bashing at you for not being able to pay the maintenance fee, like some of them here.
That is my point. Becareful in chosing property with strata. Read Strata Title Act first! The developer can sue you in court. You can be fined or even jailed. On top of that, they can sell your car or tv or fridge or other moveable properties to recover the outstanding payment.
Remember. Maintenance are due monthly even after you finished paying the loan. And even when you are dying. There is no waiver under Strata Title Act.
This maintenance fee is not set by you. It is set by the Joint Management Committee in which the developer is a member. You may say the amount is high, but they may say the amount is reasonable. In the end, you have to listen to them and pay the amount. So, before you buy, think carefully. Like some people here say, if you think you cannot cope with it, choose a property with an individual title.
Best of luck in finding your home sweet home!
Apr 5 2014, 10:28 PM

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