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 Deed of Mutual Covenants

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TSNanti Sekejap
post Dec 5 2024, 02:27 PM, updated 2y ago

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1. I found DMC is the best, as it is an idea that stays in between non-G&G individual title units and stratified community.

2. It almost has all the pros of both sides and eliminated all the cons from both sides. Do you agree?

3. Currently, lots of high-rise living folks facing maintenance fee problem, especially those not already new, ditched by developer, managed by own condo.

4. Many moans for facing mismanaging jmb, not efficient, corruption, mis conduct, and also due to current market trend of everything's price also hike, and leads to drastic increase of management fee. Many already cant stand with it

5. Then condo folk cabut go for outskirt landed, follow the sheep almost all go into the popular stratified community idea township.

6. It is actually same kind of condo management idea, where everybody share share pay for the fancy facility.

7. Who manage? OfCourse developer. But it is just for now and not forever, because what if in the future the developer charge kaw2 then what? Kick out the developer and form jmb to manage own self?

8. Yes then go back to the condo management loop, all kind of mismanagement problem, fee hiking problem again.

9. Now then what about individual title? Good? No need month month pay management fee? Yes, big saving, but no security, not save, property value drop.

10. Look at SS2, why ppl willing to buy condo there at almost the same price of adjacent landed property? Thats why....

11. So here come our life saving hero the DMC comes, not a brand-new idea ofcourse, but it is in between those 2. Almost having all their pros and no inherit any of their cons.

12. Good example are the desaparkcity, no?

13. So, you agree?
DragonReine
post Dec 5 2024, 04:37 PM

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QUOTE(Nanti Sekejap @ Dec 5 2024, 02:27 PM)
1. I found DMC is the best, as it is an idea that stays in between non-G&G individual title units and stratified community.

2. It almost has all the pros of both sides and eliminated all the cons from both sides. Do you agree?

3. Currently, lots of high-rise living folks facing maintenance fee problem, especially those not already new, ditched by developer, managed by own condo.

4. Many moans for facing mismanaging jmb, not efficient, corruption, mis conduct, and also due to current market trend of everything's price also hike, and leads to drastic increase of management fee. Many already cant stand with it

5. Then condo folk cabut go for outskirt landed, follow the sheep almost all go into the popular stratified community idea township.

6. It is actually same kind of condo management idea, where everybody share share pay for the fancy facility.

7. Who manage? OfCourse developer. But it is just for now and not forever, because what if in the future the developer charge kaw2 then what? Kick out the developer and form jmb to manage own self?

8. Yes then go back to the condo management loop, all kind of mismanagement problem, fee hiking problem again.

9. Now then what about individual title? Good? No need month month pay management fee? Yes, big saving, but no security, not save, property value drop.

10. Look at SS2, why ppl willing to buy condo there at almost the same price of adjacent landed property? Thats why....

11. So here come our life saving hero the DMC comes, not a brand-new idea ofcourse, but it is in between those 2. Almost having all their pros and no inherit any of their cons.

12. Good example are the desaparkcity, no?

13. So, you agree?
*
Buddy, that's what the Strata Management Act 2013 is for 😅 anything not covered by SMA 2013, can be covered by local authority law, or the JMB/MC vote special resolution as bylaws (SMA 2013 allows JMB/MC to make bylaws)

Even if try make new DMC, cannot contradict or conflict with SMA 2013 and local council laws.

This post has been edited by DragonReine: Dec 5 2024, 04:41 PM
babu_my
post Feb 3 2025, 01:19 PM

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OP has misunderstood the purpose of a DMC. And as the first respondent has stated, the SMA will prevail and a DMC is not legally binding. Its main purpose post SMA is to cover the gap between the first year and the AGM.

 

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