just want to check and verify with other condo owners since this is my first time buying a condo. Is it normal to collect deposits for maintenance, sinking fund, and also common area meter (water and electric)?

the amount for the common area deposits are quite high and it doesn't make sense to me when you consider the amount of owners / residents. The condo is commercial title under HDA

developer is not being helpful so far in answering our questions so would like to get some opinions here

The developers responsibility is to complete the building. Once VP given, the owners collectively have to manage the building by appointing a 'property manager'.

MC and JMB are merely 'property managers' and not owners. They dont have the funds to start and it has to come from the owners.

In the event the property is sold later, owner will get the reimbursement amount from the buyer who will take over the deposits.

This post has been edited by mini orchard: Jan 20 2023, 08:45 AM

It is usually spelled out clearly in your Deed of Mutual Covenant. Look for item under Security Deposit until formation of JMB/MC.

They way you post, very obvious you haven't even read what you signed.