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 What are the "Hidden" cost after Vacant Possession, Condo hidden cost?

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Zwean
post Feb 5 2020, 11:59 AM

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QUOTE(jeffboon97 @ Feb 5 2020, 10:13 AM)
Dear Lowyat,

For the past few weeks I've been doing research on condominiums.

I am slowly realizing that there are plenty of charges that are not transparent to my eyes.

Since I am first home buyer, I want to know what are some of the uncommon/common charges for a strata title condo? (non-commercial)

Below are the list of charges that I am aware of:

1. Maintenance Fee & Sinking Fund
2. Cukai Tanah
3. Cukai Pintu
4. Indah Water

Thanks for the icon_question.gif
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Recurring
1) Maintenance Fee
2) Parcel Rent
3) Assessment
4) Indah Water
5) Air Selangor Deposit
6) TNB Deposit
7) Fire Insurance
8) Income Tax (if used as rental property)


One time
1) MRTA / MLTA
2) Legal Fees - S&P & Facilities Agreement
3) Stamp Duty - MOT (LHDN) & Facilities Agreement
4) SST
5) Apportionment of outgoings
6) Valuation fees


Zwean
post Feb 5 2020, 07:02 PM

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QUOTE(jeffboon97 @ Feb 5 2020, 02:02 PM)
Dude, thank you so much for the info.

The recurring costs may cause me RM 5-6k annually...
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You are most welcome. Many first time to be property owners feel overwhelmed. Glad to be able to help.
Zwean
post Feb 7 2020, 11:51 AM

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QUOTE(COOLPINK @ Feb 7 2020, 11:50 AM)
i think air selangor and tnb deposit is one time only, no?
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Yes, my mistake.

Recurring
1) Maintenance Fee
2) Parcel Rent
3) Assessment
4) Indah Water
5) Fire Insurance
6) Income Tax (if used as rental property)

One time
1) MRTA / MLTA
2) Legal Fees - S&P & Facilities Agreement
3) Stamp Duty - MOT (LHDN) & Facilities Agreement
4) SST
5) Apportionment of outgoings
6) Valuation fees
7) Air Selangor Deposit
8) TNB Deposit
Zwean
post Feb 9 2020, 01:26 PM

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Senior Member
1,269 posts

Joined: Dec 2019
QUOTE(mushigen @ Feb 9 2020, 11:56 AM)
There is a recurring sinking fund too.

Maybe IWK should be excluded because you still need to pay for it if you rent a condo to say? It's like TNB and water bills which are not included in your list.
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Depends on how the contract is negotiated.

 

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