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 Condo asking an amount of money for new lifts

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cherroy
post Jan 25 2018, 11:10 AM

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QUOTE(blackwindow @ Jan 25 2018, 10:08 AM)
I'm just asking because I'm just wondering if it is normal that they carry out such demand. I know that lifts don't come cheap and so on. But it would be appropriate to get opinions from tenants if they agree to do so only then only make the decision. Thank you for your answers. And of course I know maintenance money is for cleaners etc etc. I'm just getting opinions on how normally a condo get on these stuffs. Hehe. And recently they just installed smoke detectors in each unit which also costed a sum of money. Whatever it is, I still think it is better if they have asked our opinions to make a decision as not every one can just come out for example 5k on the spot when the notice is given.
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Normally, it is done via EGM called, or AGM.

Once majority vote agree such a special sinking fund etc. then JMB/MC has right to bill the owners.

But many owners may not attend nor bother there was AGM/EGM generally which may create the miscommunication.

On the other hand, if there is no AGM/EGM called, then it is inappropriate.
cherroy
post Apr 30 2018, 05:43 PM

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QUOTE(straw @ Apr 28 2018, 03:11 PM)
current leasehold condo need to pay additional sinking fund for reno/upgrading building.
eg the owner pay by installment for 12 months might change to 36 months.

if new buyer enter to buy, who pay the additional sinking fund? pro-rate or
seller need to settle the full amount of additional sinking fund before consent letter? 

thanks.
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As long as there is no outstanding until the property transfer date or effect of S&P date, then management will give the consent.
So it should be based on the invoice up to date that has been issued to the seller.


 

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