Link to the Show / Show NotesThe long awaited Common Property (Building & Maintenance) Bill has been passed in December 2006. Once this specific law is introduced, developers and owners are expected to form a joint management committee to manage and maintain the common properties. This will give owners a say in how the common properties will be managed. Owners will get to see more transparency in the made up of their contributions towards the management fund & reserve funds for major repairs.
Henceforth, you as a property investor are now in better position to maintain and enhance the value of your property through joint-management with the development even when the individual titles have not yet issued.
I do not want to name any here, but please be aware that many stratified properties are having lousy or poor management nowadays. This will have direct effect on the market rental and the capital value of the property you invested.
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