How much the management expect can be collected, after using the Act 32 & 34?

Learn More the Act 32 & 33 & 34

32. Recovery of charges by Joint Management Body
(1) Where maintenance charges become recoverable by the Body from a purchaser by virtue of section 23, the Body may serve on the purchaser a written notice requesting payment of the sum due within such period, which shall not be less than fourteen days from the date of service of the notice, as may be specified in the notice.

(2) If at the end of the period specified in the notice under subsection (1) the sum or part of the sum due remains unpaid, the Body may serve on the purchaser a further written notice demanding payment of the sum due within fourteen days from the date of service of the notice; and if upon expiry of the said period, the sum due still remains unpaid, the Body may institute proceedings in any court of competent jurisdiction for the recovery of the said sum or, in addition or as an alternative to recovery under this section, resort to recovery under section 33.

(3) Where a managing agent has been appointed by the Commissioner under section 25 to maintain and manage a development area, a notice sent by the managing agent shall be deemed to have been sent by the developer or Body.


33. Recovery of arrears of charges
(1) Where the amount of charges payable is in arrears for six months, the Commissioner may, at the request of the developers or Body, issue a warrant of attachment in Form B of the Second Schedule authorizing the attachment of any movable property belonging to the purchaser which may be found in the parcel or elsewhere within the local authority area.

(2) No warrant of attachment shall be issued by the Commissioner unless the Commissioner has served a notice in Form A of the Second Schedule on the purchaser or any one of the purchasers of the parcel, if more than one, requesting him to pay the arrears within fourteen days of the service by posting or delivery.

(3) The warrant shall be executed by an officer from the office of the Commissioner who shall be make an inventory of the property attached and at the same time give notice in Form C of the Second Schedule to the person who at the time of attachment appears to be the person in possession of the property.

(4) Such officer may, in the daytime, effect forcible entry into any parcel or building or any part of the parcel or building for the purpose of effecting the attachment.

(5) Unless the arrears and the collection charges are paid within seven days of the attachment of the property, the property attached shall be sold by public auction.

(6) Where any amount is recovered by the Commissioner under this section, the Commissioner may deduct from such amount collection charges of such amount as may be prescribed by the Minister, with the concurrence of the State Authority.

(7) Any amount received by the Commissioner, after deduction of the collection charges, shall be deposited into the Building Maintenance Fund as soon as practicable.

(8) Any surplus, after the deduction of any amount by the Commissioner under subsection (6), shall be paid to the person who, at the time of the attachment was or appeared to be in possession of the property.

34. Failure or refusal to pay charges
Any person who, without any reasonable excuse, fails or refuses to pay maintenance and management charges commits an offence and shall on conviction be liable to a fine not exceeding five thousand ringgit and shall also be liable to a further fine not exceeding fifty ringgit for every day during which the offence is continued after the conviction.

Haha! u ask on behalf of me lah...... let me know the result ah....

I not qualify yet, the transaction still need 6 months to process, the name still under previous owner.

Anywhere nice talk 2 u, which block u stay? My unit at block 10

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Added on December 20, 2010, 1:03 pmLearn more about - Strata Titles Act, 1985

Transfer ownership of strata titles or be fined
By: The National House Buyers Association (HBA)

When one condo unit owner was asked on why she has not taken action to transfer the strata title for her unit from the developer to herself, she replied that she has not decided to whom or the charity organization she wants the property to be registered in. This is an extreme case of naivety when this particular owner thinks there she can take her own sweet time to affect the transfer. Other owners gave excuses of not having prepared the cash for the transfer costs, while some say there are in the process of selling their units.

The good news for developers and management corporations tired of owners taking their time to transfer ownership of strata titles is that the Strata Titles Act, 1985 has been amended to include a deadline for such transfers as well as making it an offence for non-compliance.

This is the newly included section in the Strata Titles Act, 1985 from 1st April, 2007 (the operation date of the Strata Titles (Amendment) Act 2007):

40A. Transfer of ownership of strata titles

(1) Any original proprietor or any person or body appointed by a court of competent jurisdiction shall execute the transfer of strata titles to the parcel proprietors within twelve months from the date of issue of strata titles by the Land Administrator or any extended period approved by the Director upon the opening of the strata register.

(2) Any purchaser shall execute complete documents of transfer of strata titles within twelve months or any extended period approved by the Director from the date of notice of transfer of strata titles issued by the original proprietor or from the date of purchase of the parcel, whichever is the later.

(3) Any original proprietor or any person or body appointed by a court of competent jurisdiction or any purchaser who fails to comply with subsection (1) or (2) shall be guilty of an offence and shall, on conviction, be liable to a fine of not less than one thousand ringgit and not more than ten thousand ringgit per parcel.

As you can see from the above, the purchaser and also the original proprietor (developer or land owner) shall be guilty of an offence liable to fines of RM1,000 to RM10,000 per parcel (f convicted) if the transfers are not executed within the stipulated period. This is reason enough for owners to quickly execute the transfer once they have received the notice of the issuance of strata titles from the developer.

How do you know when strata titles are issued?

For primary properties, the strata titles are first issued to the developer or land proprietor. Once issued, the developer will write to inform the purchaser, the purchaser's solicitor as well as the end financier. Normally, the notice will include instructions on the developer's solicitor's information, amounts to be paid or utility deposits to be transferred as well as a copy of the title and accessory parcel (if any).

What is the process to transfer the ownership of strata title?

1
Developer and purchaser sign Memorandum of Transfer ('MOT') form (Form 14A, National Land Code)
2
Lawyer sends MOT to Stamp Office for adjudication to ascertain how much stamp duty is to be paid. Stamp Office then stamps MOT for a nominal value of RM10.00 (being adjudication fee) and returns MOT to lawyer.
3
Valuation Department then values property and informs Stamp Office of valuation amount. Stamp Office then issues the notice (PDS 14) of the stamp duty payable based on the said valuation. Lawyer collects stamp duty from purchaser and proceeds to stamp MOT. A penalty is imposed if the instrument is not stamped within the stipulated 30 days from the date of the notice.
4
After stamping MOT, lawyer presents the MOT and charge instrument (Form 16A) (for properties charged to a bank), to the Land Registry/Office for registration. On presentation, a presentation number would be allocated. It would take an approximate 6 to 9 months or earlier with the recent implementation of the Computerization System of Strata Titles.
5
Once the transfer is registered, you would receive the strata title from your lawyer. If the property is charged to a bank, the title would be sent to the bank. You should get a photocopy of the title from the lawyer for your record.

What are the documents that you must provide to your lawyer?

1. Copies of all present and previous Sale & Purchase Agreements (if you are not the first purchaser, to show proof that you are the last buyer in the chain).
2. Copies of present and previous Loan Agreement, Deed of Assignment, Deed of Receipt and Re-assignment (if any).
3. Strata Title (from the developer)
4. Current year quit rent receipt.
5. Current year assessment receipt.

What is the estimate amount to set aside for the effectual transfer process?

Normally, the two main cost of the transfer is the stamp duty and the legal fees shown below.

The stamp duty is a revenue payable when an application is made to register changes to a certificate of title or ownership.

1. How stamp duty is calculated

On the first RM100,000 RM1.00 for every RM100 or fractional part of RM100
On any amount in excess of RM100,000 but not exceeding RM500,000 RM2.00 for every RM100 or fractional part of RM100
On any amount in excess of RM500,000 RM3.00 for every RM100 or fractional part of RM100

This means if your property value is RM60,000 the stamp duty would be RM600 and for a property valued at RM350,000 the stamp duty would be RM6,000. There usually is a time lapsed from the purchase till the issuance of the strata titles. At the time of transfer, direct purchasers from developers usually pay the consideration value (the purchase price) of the property, whereas subsequent purchasers would have paid the stamp duty based on market value adjudicated by the Valuation Department.

For purchasers who have paid the full duties on the Deed of Assignment in sub-sale agreements, the stamp duty is a nominal sum of RM10.00. This has to be verified by the Stamp Office from the Deed of Assignment bearing the original stamped impression which also carries a serial number.

2. How legal fees for transfer of ownership of strata title is calculated

1 2
Consideration or Adjudicated Value Scale of Fees Purchases under the Housing Development (Control & Licensing) Act Transfer legal fees (if using same SPA lawyer) Transfer legal fees (if using a lawyer who is not the SPA lawyer)
For the first RM 150,000 1.0 % (minimum fee RM300) 25% of applicable scale fee from either Column 1 or 2 (subject to a minimum of RM200) 50% of applicable scale fee from either Column 1 or 2 (subject to a minimum of RM200)
Next RM850,000 0.7%
Next RM2,000,000 0.6%
Next RM2,000,000 0.5%
Next RM2,000,000 0.4%
More than RM7,500,00 Negotiable (but shall not exceed 0.4%)
RM45,000 or below RM250
RM45,001 to RM100,000 75% of scale fee
RM100,001 to RM500,000 70% of scale fee
RM500,001 and above 65% of scale fee

Note: The table above is compiled from the Solicitors Remuneration Order 2006 under the Legal Profession Act 1976. The fees might change so it is best that you check with your lawyer or the Malaysian Bar Council at www.malaysianbar.org.my on the latest updated Order.

As an example for a property valued at RM350,000 (bought from a housing developer) the legal fees for transfer using the same Sale & Purchase Agreement transaction lawyer would be RM656.25.

What happens after the strata title is registered in your name?

You are now the legal owner of the property. The developer will have to call for the First Annual General Meeting when an estimate one-quarter of the total owners have transferred the ownership of strata titles. This meeting marks the day, the developer hand over the ownership of the common property and land to the Management Corporation (MC) as well as relinquish control of the management & maintenance to the MC represented by the Management Council elected from members of the MC.



This post has been edited by 22222222: Dec 20 2010, 01:03 PM

Arena Green

SQ Ft = 819
Asking Price = RM 230,000
psf = RM 280
Tenure = Freehold
Title = Strata
Rental = +- RM 1500
Return rate = 6.5%
Future LRT Station nearby = no


Bukit OUG Condo

SQ Ft = 1222
Asking Price = RM 170,000
psf = RM 139
Tenure = Freehold
Title = DOA
Rental = +- RM 1300
Return rate = 7.6%
Future LRT Station nearby = Yes


As investor, will looking for few factors
i) Cheap property. (Less loan, Less interest)
ii) Easy to Tenanted
iii) rental return rate
iv) capital appreciation in the future

As people who want to rent a house/condo, do you go for the high rental with small size or low rental with big size?

Do you still choose Arena Green now?

It is walking distance (5-8 min) to Bukit jalil lrt & Sri Petaling LRT, but my previous post only mention that "<b>Future</b> LRT Station nearby = Yes" to make the strong point for me, what i select Bukit OUG Condo instead of Arena Green. Dun be so sensitive on it. (Merry christmas to all)

As jalsrix mentioned early
It is walking distance to Bukit jalil lrt but <b>price is expensive now</b>. Still got so many people buy there. why ?

Let us study a bit background of Arena Green & Bukit OUG Condo.

Areen Green
Year 2000
- Develop somewhere around 97/98 and completed around 2000
- Starting price 99k ~ 130k
- psf range RM 120 ~ RM 150
- Rental : RM 500 ~ RM 700

Year 2010
- Asking price RM 220k ~ RM280k
- psf RM 280 ~ RM 330
- Rental : RM 1300 ~ RM 1500

Over the 11 year psf already up +-RM160 (133%) and Rental up +-RM800 (160%).

Actually, if you study back. In the year 2009, the selling price already reach the high RM230k and over 1 year (2009 ~ 2010) that is not much increase on the selling price while another property easily to increase 10~20%.

Of course, we cannot declined that there have potential for Arena Green price go up again, but the increase will less than other property.


Bukit OUG Condo
Year 2000 ~ 2008
- Develop somewhere around 97/98 and completed around 2000 (Phase 1), 2005 (Phase 2)
- The project was delayed due to developer MBF bankruptcy
- The Management was handling by liquidator and running for few year. (very bad, negative cash flow)
- Starting price range RM110k ~ RM 130k (studio unit), RM 160k ~ RM 180k (1222sq ft), RM 200k ~ RM220k (big unit)
- psf range RM 145 ~ RM 150
- Rental : RM 400 ~ RM 800
- The property were selling under market price, due to a lot of singaporean let go their unit to cut lost. That time 1465sq ft can easily get on RM160k.
- Occupancy : 50%

Year 2009 ~ 2010
- JMB was formed to take over the management, the financial was improved and positive cash flow.
- Repairing work were well done over 2 year.
- Asking price was jump back to ori price RM210k (big unit) (2nd half of 2010)
- Rental : RM 800 ~ RM 1500
- Occupancy : 85 ~ 90%

In my opinion, bukit oug condo just back to track and start the journey while the Arena Green already reach it limit.

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Added on December 22, 2010, 11:52 amJust publish your friend phone number here, I think should be easily to sell out.

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Added on December 22, 2010, 12:00 pmWhich Area ""Wrong""?

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Added on December 22, 2010, 12:02 pmFacing Tennis court or highway, my one is facing the hill (highway... ).

This post has been edited by 22222222: Dec 22 2010, 12:02 PM

I dun know this guy, i just c the banner, maybe you can direct call this number.

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Added on December 23, 2010, 9:52 amhuh....so good view, i think you bought a good unit.

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Added on December 23, 2010, 9:54 amSome source said will built the shop lot, dun know true or not. Will know later, just wait.

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Added on December 23, 2010, 10:07 amThe rental is very depending on location, house sf and furnished/unfurnished. The RM1300 is talking about Fully/partly furnished of the apartment. I think the unfurnished wt small size maybe -RM200-RM400.

, since you are very well know of Arena Green, just tell us what is the rental & sell price now, I think this forum was welcome you to advertise although this forum was discussed on Bukit OUG Condo.

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Added on December 23, 2010, 4:18 pmSome News for property
http://www.malaysiakini.com/news/151522

Property Market Report From Bank Negara
http://www.jpph.gov.my/V1/pdf/LPH_H1_2010_FINALOVERVIEW.pdf

This post has been edited by 22222222: Dec 23 2010, 04:18 PM

Mak,

Since you r the banker, do you know what is the current transaction price for bukit oug condo? (Bank Valuation)

TQ.

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Added on December 23, 2010, 5:51 pmThere is hard to justify worth buy or not, all are depend on reno & furnish and material using.

What I suggest to you,

1) Call the agent again ask for site visit.

2) If you feel good, just go to bank do some basic bank valuation ( you can look for mcmak to help), what is the market value for the Condo and how much you can borrow? Normally, the bank will basic recently 5-6 transaction to determine market value and how many loan they can offer to you. Of course, the reno also part of consider for the bank to borrow more many to you. If the owner dun mind, you can take some photo let banker hv a look.

3) After that, basic on info you get from the bank, start bargain with them. C how much they can reduce for you.











This post has been edited by 22222222: Dec 23 2010, 05:51 PM

Merry Christmas & Happy New Year 2011. Just back for Holiday.

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Added on December 28, 2010, 4:33 pm I think Jaya Jusco wah!!!

This post has been edited by 22222222: Dec 28 2010, 04:33 PM

haha, maybe u r right. I hear that there is a big jaya jusco will built near by the LRT station. The location possibility is that area......

How is your holiday?

The news is come from friend, dun know true or not? Hope it can be materialized. So next time u no need to drive far far shopping.

Huh......Holiday also need to work . Wat is the job can work in home? Can u introduce some, i needed find a part time job....money no enough

There is a unit 1222 sq ft, block 3, selling on best price = RM 168,000

U may contact Joanne, 012-3159357.

Good Luck.

woooo...graphic designer.......<<9 hours at office then 10 hours work at home>>, the different is
9 hours Office - for company...
10 Hours home.....pocket $$$

Nolah, CNY coming soon, everything up up up, must find more money to balance my account mah...

Scary 1-1-11.

I review back your previous post, u buy this condo at 120k++, now almost reached 180k, paper gain oledi 50k.

If later money not enough, u can sell off to cover, no need work so hard lah. (easy .....old)

Another Construction Company enter to Bukit Jalil

http://www.theedgeproperty.com/news-a-view...for-rm955m.html

I only can said that ....

3rd miracle = 3 good (Good, Good, Good)

Do tour room rent out oledi? Why must female neh?

This post has been edited by 22222222: Dec 30 2010, 12:40 AM

almost 50% is chinese.

If want to buy must fast, later more expensive.

There is big improvement if compare to 2 year ago.

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Added on December 30, 2010, 1:00 pmThere is a unit 1222 sq ft, block 3, selling on best price = RM 168,000

U may contact Joanne, 012-3159357.

It is freehold, but still under master title. If buy u needed to sign DOA.

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Added on December 30, 2010, 1:06 pmWow...190k.....1465 or 1448?

There is a good price...... Do you have the agent number. Please PM me or give her/his contact here. My friend ask me looking 1400++ for him.

This post has been edited by 22222222: Dec 30 2010, 01:09 PM

You can refer to below forum :
Master Title
http://www.realestate.net.my/forum/archive...-mean-22010.htm

DOA = Deed of assignment.
http://www.realestateagent.com.my/Sale%20a...s%20Process.htm

1. The property under master title due to developer bankruptcy.

2. It is possible to subdivide to individual title (Strata), but there will take a long time (through legal procedure) maybe next 20 year wah.... .
Of course, this is oso depend to the management how their going to discuss with Liquidator & bank (which is the land charge to).

3. Loan is not an issue for bukit oug condo. Yes, a lot of bank will avoid to provide loan to the condo/apartment/flat which cannot obtained the title after 10 years time, especially the foreign bank. But, oso a lot of bank will provide the loan is depend to the borrower capability to return the loan or not. As long as u r not CTOS & CCRIS members , they will provide the loan for you. You can borrow from major big bank in malaysia licke Public, CIMB, Ambank & etc.

Keith,

There is so expensive, can u reduce to 150k, i ask my friend take from u


Yes, i agreed wt u. if who worried about case of bukit oug condo, u can look around new development at old klang road, but all this apartment/condo easily 300k++.

If term of rental yield, much more lower than bukit oug condo.



This post has been edited by 22222222: Dec 31 2010, 12:58 PM

u will more , if u know more about future development at this area.