Share
KUALA LUMPUR: Developers of stratified properties should be more transparent on the buildings' overall maintenance cost with the buyers of the properties.
Making this call, International Real Estate Federation (FIABCI) Malaysia president Yeow Thit Sang said there had been a lot of unresolved problems especially on the collection of maintenance fees.
Yeow said there were two million units of strata titled residential units and the problem was growing but the resolution has not been fast enough.
He said that even before the purchase of such properties, the buyers must be informed of the maintenance fees and processes involved.
On the other hand, he said the Commissioner of Buildings (COB) should also act more forcefully and speedily to overcome the problem as they had the authority to deal with houseowners who do not pay maintenance fees.
"The COB must send a message because they have the power to attach the property of the defaulting condominium owners if the owner do not pay their maintenance fees. They have the right to go and attach the property," he told reporters at the sidelines of the fifth Property Management Seminar held here on Thursday, Dec 9.
On the grey areas involving stratified properties, such as maintenance fees involving car parks in a mixed complex, Yeow said there was a need to find a correct formula on how to handle and share the maintenance fees which has different users.
"Our suggestion is to go on usage," he said.
On the seminar on Thursday, Yeow said one of its objectives was to educate the public and raise their awareness of their duty to pay the maintenance fees when owning stratified properties.
Asked on rising house prices, Yeow suggested that the authorities should make the approval process faster for property developers to create a competitive environment so that the price will not rise dramatically.
Meanwhile, the seminar — themed "Property Management-Time Bomb" — was aimed at looking at the issues faced by property developers, property managers, owners, residents of high-rise and stratified properties.
It was also aimed at examining and reviewing the latest and relevant legislations, taxation implications, enforcement of collection service charges, draft guidelines for gated community and guarded neighbourhood and rule of property management in stratified properties.
The seminar which was organised by FIABCI Malaysia and the Malaysian Association For Shopping and Highrise Complex Management attracted more than 300 participants. — Bernama
Making this call, International Real Estate Federation (FIABCI) Malaysia president Yeow Thit Sang said there had been a lot of unresolved problems especially on the collection of maintenance fees.
Yeow said there were two million units of strata titled residential units and the problem was growing but the resolution has not been fast enough.
He said that even before the purchase of such properties, the buyers must be informed of the maintenance fees and processes involved.
On the other hand, he said the Commissioner of Buildings (COB) should also act more forcefully and speedily to overcome the problem as they had the authority to deal with houseowners who do not pay maintenance fees.
"The COB must send a message because they have the power to attach the property of the defaulting condominium owners if the owner do not pay their maintenance fees. They have the right to go and attach the property," he told reporters at the sidelines of the fifth Property Management Seminar held here on Thursday, Dec 9.
On the grey areas involving stratified properties, such as maintenance fees involving car parks in a mixed complex, Yeow said there was a need to find a correct formula on how to handle and share the maintenance fees which has different users.
"Our suggestion is to go on usage," he said.
On the seminar on Thursday, Yeow said one of its objectives was to educate the public and raise their awareness of their duty to pay the maintenance fees when owning stratified properties.
Asked on rising house prices, Yeow suggested that the authorities should make the approval process faster for property developers to create a competitive environment so that the price will not rise dramatically.
Meanwhile, the seminar — themed "Property Management-Time Bomb" — was aimed at looking at the issues faced by property developers, property managers, owners, residents of high-rise and stratified properties.
It was also aimed at examining and reviewing the latest and relevant legislations, taxation implications, enforcement of collection service charges, draft guidelines for gated community and guarded neighbourhood and rule of property management in stratified properties.
The seminar which was organised by FIABCI Malaysia and the Malaysian Association For Shopping and Highrise Complex Management attracted more than 300 participants. — Bernama
SHARE
.png?1HCcXjc58ilY8zUkpVqOxUVEH7w8jTPX)
