Maintenace fee

[shulyn]

Hi,

Wanna check how much are you paying for your maintenance fee based on area size? Lately my condo mcst has revised and has increase our mf. To my understanding, maintenance fee is based on the area size, no.of units in the project etc.

My side here is all paying the same maintenance fee except the penthouse units. For 2 bedroom, 2+ 1 and 3 bedroom is all paying the same amount which i happen to call for clarification, all this unit is paying based on 3 X share value. Penthouse is paying 4 X share value.

Care to share is your project also work in the same way?

Many thanks

 

[edy]

Maintenance is based on the "share" of the property ... so example a 2 bedroom is allocated 2/200 shares, so the fee is calculated on the 2 shares.

When the property is En Bloc, the 2 bedroom will get the 2 shares value too.

Usually for 2 and 3 bedrooms their allocated numbers are different ... you might want to check with your committe ...

 

[missblue18]

does anyone know what is sinking fund?my maintenance fee stays the same but the sinking fund keep increasing...the sinking fund is billed together with the maintenance fees

 

[edy]

Sinking fund is used to perform general maintenance on property, for example repainting on the building, fix broken path and etc ...

As a resident (share holder) you have the option to request for detail info on where are those money spent ... in fact they should published it yearly or so ...

 

[shulyn]

Maintenance is based on the "share" of the property ... so example a 2 bedroom is allocated 2/200 shares, so the fee is calculated on the 2 shares.

When the property is En Bloc, the 2 bedroom will get the 2 shares value too.

Usually for 2 and 3 bedrooms their allocated numbers are different ... you might want to check with your committe ...

Thanks ya! I just find it kind of funny, 2, 2+1 and 3 bedroom is all sharing the same share value...

Ok, will call up and check!

 

[edy]

May I know which project are you staying currently? I have read sometimes some MGMT has weird rules ... best if you have time is to attend or join their committe so you have voting right and be able to voice our your concerns

 

[shulyn]

May I know which project are you staying currently? I have read sometimes some MGMT has weird rules ... best if you have time is to attend or join their committe so you have voting right and be able to voice our your concerns

Oh..its Platinum Edge (Leicester road)...Its a new project, TOP about a year. Attended the AGM but didnt mention all units is sharing the same value share...I called the managing agent and he told me this is pass down from the management. I happen to know this cos im quite close to my neighbour and we happen to talk abt the increase of the mf...Think not every owner is aware of this...

 

[edy]

Sometimes when you have "stupid" management that is why ... giving reason that this is passed down from management is not an acceptable nor logical answer ... since everyone is an owner of the project.

Whoever give that answer should be shot in the head ...

You might want to verify if those units (2 bedroom, 2+ 1 and 3 bedroom) are sharing the same amount of share of the property ... if it is, i guess it is fair but if not the monthly maintenance fee should be different.

If it is different share, i believe you could contact everyone that involves to provide support on

1. changing the management
2. revise the monthly fee

 

[shulyn]

Sometimes when you have "stupid" management that is why ... giving reason that this is passed down from management is not an acceptable nor logical answer ... since everyone is an owner of the project.

> I will call them up...

Whoever give that answer should be shot in the head ...

> Haha...sound fierce..

You might want to verify if those units (2 bedroom, 2+ 1 and 3 bedroom) are sharing the same amount of share of the property ... if it is, i guess it is fair but if not the monthly maintenance fee should be different.

> Cos im quite close with my neighbour, we are paying the same mf. When i called up the management, they told me (2, 2+1,3 bedroom) is all paying the same 3 value share...

If it is different share, i believe you could contact everyone that involves to provide support on

1. changing the management
2. revise the monthly fee

> I believe not everyone is aware all of us is paying the same value share...Gonna bring this up, but the recent AGM is over...