I prefer to see things from a positive perspective. As they say, positive thoughts may not be right all the time but negative thoughts? Those are wrong all the time. Haha.
Many years ago, someone told me confidently not to buy condos because there’re too many condos? So,I wrote an article about it here: Too many condos, don’t buy condos
Then, this year, JPPH (Yes, Jabatan Penilaian dan Perkhidmatan Negara) showed that actually, the property which had appreciated the most was double-storey terrace and then followed by high-rise!
Here’s that article for all to read. JPPH 2018 vs 2017. Positive. What about 2019? There are now by far more complaints forwarded to the Strata Management Tribunal (TPS).
In fact,it nearly doubled when we compare the cases in 2018 versus those in 2016. Okay, now about the number of complaints forwarded to the Strata Management Tribunal. Some would say this meant that there are more issues with strata properties? 😛
Article in themalaysianreserve.com A TPPS spokesperson told The Malaysian Reserve (TMR) in an email reply recently. Number of complaints forwarded to the Strata Management Tribunal (TPS) almost doubled to 4,964 last year compared to only 2,642 cases that were lodged in 2016.
Most of the cases were related to maintenance fee collections. The fee, mainly regulated by the JMB through a sinking fund as outlined in the SMA, is an important element that ensures the maintenance of sub-divided buildings and common properties in a strata development.
The fee covers all stratified properties including condominiums, apartments, as well as gated and guarded strata landed property. TPS sits within the TPPS under the Housing and Local Government Ministry (KPKT), which offers alter- native dispute resolution relating to the strata owners and developer.
Within the article there are lots of other numbers. If you like to understand in more detail, do click here to read. Article in themalaysianreserve.com
I am always wary of any offers which include free maintenance fees for a number of years. There are developers who will definitely pay their part for the free maintenance fees which they have given out.
However, there are also those who may not do the same and chances are the maintenance for the critical first few years were not proper. Once the warranty period is over, I wish the owners all the best. For price appreciation to happen, the maintenance of the stratified development must be done right. Else, we will start to see owners themselves giving up and just start to sell their units at lower than the market prices and well, after a while the prices will start dipping. Let’s keep the complaints higher yeah.
Article written and edited by Charles. News article summarised by Dina Batrisyia.
<Featured Image is courtesy of Stock Photos from Antonio Guillem>
Next suggested article: Can maintenance fees in high-rise go up continuously