Hi Guys,

I'm interested to know the breakdown list of what will cost me on monthly basis.

So far this is what I know.
1) Insurance
2) sinking fund
3) maintenance fee (this looks like a sum up of xyz stuff, can anyone breakdown the fee for me? thanks)

1. fire insurance = pay once a year to management. this is only for fire insurance on the building in case building kena fire and damaged (doesn't cover loss of items in your unit)

2. sinking fund and service charges is per month. condo may bill you every 2-3 months. the breakdown will be in the "form of service charges statement" that the JMB / MC will have to give you yearly on the estimated cost (see fifth schedule of Schedule H, housing development act)

3. quit rent (cukai tanah) = pay once a year to management

4. assessment (cukai pintu) = pay once every half year to your local council (eg MBPJ, DBKL)

I doubt condo has to pay this?

I thought it has included in management fees?

I paid 2018 quit rent this month to management office.

no all charges they charge u extra when they collect management fee.

aside from the above mentioned,

indah water - RM8 per month.
if your condo in selangor, there is a minimum bill for water if ur condo not individual meter, not eligible for free rm 20 water bill.

well that depends. some condo have excess money , so they take it from service charges.

these probably are characteristics of a well managed condo with good paymaster owners.

most condo have to chase owner for payment, lot of money in arrears, so have to claim extra from owner to pay quit rent.

I see. I was wondering because I stay in my condo for 1 year, never heard of that.

Thanks for the clarification.

Quit rent will be billed directly to owner once strata title is issued.

Management fee normally is catered for expenses related to maintain the condo/apartment, like cleaning, hiring security, not for quit rent etc.
Just like for fire insurance, generally it will be separately charged on top of monthly management fee.

For TS.
1. Be prepared to pay any related one shot extra expenses (sinking fund) that may be incurred to maintain the property.

Eg. Lift broke down, while current sinking fund is not enough to replace with a new lift.
Management can call an EGM, then as long as majority owners agree to fork out a money to buy a new lift, then management has right to bill every owner.

Same with any other big expenses, like repainting the whole building etc.
This is especially once the condo/apartment is getting old time, whereby lot of repair or replace need to take place.

noted with thanks

thx!

Mostly the fire insurance around how much?monthly basic?

few hundred.. between 1xx-5xx .. depend on value of your condo.