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 Condo Hidden Cost

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cherroy
post Aug 7 2018, 03:10 PM

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Joined: Jan 2003
From: Penang


QUOTE(Onioncapsium @ Aug 7 2018, 01:44 PM)
what is sinking funds?separate with the maintenance fee? and also monthly basic?
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Normally management collected monthly maintenance fee the consist of 2 portion, one to maintenance fund, one to sinking fund.

Sinking fund is a pool of money that collected for the purpose for any major spending/repairing of the building, eg. repainting the whole building, replacing lift car etc.
Maintenance fund is used to pay routine expenses like cleaning service, electrical bill etc.

But if the management run short of fund to function, JMB/MC can convene a EGM to ask for additional sinking fund or raise monthly maintenance fee.

 

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