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!
the only reason i buy apartment and condo is bcoz i m not afford to buy 1-2mil landed property at this moment. so my only choice is to buy a sub 300-400k condo and fyi , begger is not a chooser... so i have to pay maintenance fee when i choose to stay in condo .
common sense tell me i need to pay every month until i sell off the condo unit . that is for sure. u dont need to study strata title act to know about this. this is pretty common sense ,but common sense is not so common nowadays .. arent u think so ?
JMC is not a permanent thing . end of the day , they need to hand over to community itself to settle . then condo community will setup a new team aka committee member for condo
even u buy a landed property , and if u didnt pay ur quit rent / cukai pintu, local council will lelong ur stuff to clear ur debt.. this is common sense as well