theSun Property December 2017

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STRATASERIES
STRATA-TITLED residential
property comprises
residential properties that
are adjoined in some way, as
in apartments, condominiums and
townhouses. Inmany countries
across the globe, especially
cosmopolitan cities and urban
districts, residential types such as
these are popular.
Majority of living spaces under
this residential type offer smaller
spaces that come with amore
affordable price tag. However, there
are a fewpoints one should consider
before deciding on buying strata-
titled property.
1) Common areas
For those particular about “your
space” and “my space”, they should
really think through hard the idea of
living in a strata-titled property, as
common areas require sharing and
caring. And there aremany
“common areas” as in patios,
gardens, lifts, walkways, parking
lots, etc. While themore sociable
and consideratemay quite enjoy
living in property types as these, life
can become a nightmare if luck
sends you a neighbour with a devil-
may-care attitude.
2) Maintenance fees and charges
Purchasers of strata-titled property
should be aware that other than
their monthly bank home loan (and
their other financial obligations) to
service, maintenance fees and
sinking funds are just some
additional bottom-dollar
commitments they need to take into
account. The reason owners need to
bear these costs is because
ownership of strata-titled property
is shared through an owner’s
corporation and common areas
must bemaintained by all owners
collectively, expenses incurred,
shared. Best to find out about the
extras – rates and charges that will
be incurred. Do note that these are
subject to change, likely increase as
the building ages and requires
repair andmaintenance.
3) Parking lots
As space is a huge problemand
getting bigger by the day, so are
issues on parking lots and storage
space. This issue is especially
relevant to those whose young adult
children or extended family
members live with them. Determine
the number of parking lots allocated
to each residential unit and check
this against the number of vehicles
that require parking lots. Do also
consider “storage space” especially
if one has bicycles or recreational
“toys” and such that require a “lay
away” space. Another point to take
note on is parking for guests,
especiallywhen one has visitors, a
home party or a gathering. From
inconvenience of registering guests’
vehicles into visitors’ parking lots to
receiving summons/fines and
getting car wheels clamped,
incidences of pets and leaky pipes
“working” into vehicle paintwork.
4) Renovationwork
Depending on the “rules and
regulations” drawn up upon
consensus by themanagement
corporation/bodies and residents,
there aremany decrees and criteria
to abide by. Frommoving in or out
to refurbishing and renovation
works, installation, repairs, etc.
owners and tenants need to comply
to all the do’s and don’t’s and do not
have the freedom to “do as they
wish” even if they are owners of
purchased units. Another common
issue where “renovationwork” is
concerned in this type of property is
leaks and repairs that could have
been brought about by a
“neighbour” – in this case, those
living in units on your right or left,
above or below. In the “Owner’s
Manual andGuidebook” (OMG) by
Chris Tan, one of themost
frequently asked questions by strata
owners is on leaks and defects and
who should bear the cost/s or
repair/s.
5) Noise disturbance
When living in close proximity and
having to sharemany “common
areas”, one has to be considerate at
all times. Restrictions may put a
restraint to late night parties and
gatherings, especially if these are
planned in common areas. Other
instances that may be of concern are
knocking of nails intowalls; loud
volume fromHiFi and home theatre
systems; noisy pets (if they are
allowed); etc. “Night owls” should
put inmore thought before deciding
on a strata-titled place to call home.
While the above are only the tip
of the iceberg (strata owners will be
Email your feedback and
queries to: propertyqs@
X
able to attest to this), one needs to
weigh the pros and cons as one
should in any situation that requires
a decision. No doubt strata lifestyles
come withmany advantages too –
security and safetymost likely the
main reasonmany choose this
property type to others. Another
possible reason for one to favour
strata propertywould be themore
“affordable” price tag (subjective).
Do note however, that strata
living does come with restraints. As
mentioned in our article in part one,
community living, sharing of
common property, strata titles and
management acts, etc – all these
need due consideration. Decisions,
proposals and objections to any
strata property regulation/s and
guidelines are all carried out
through votes. Hence, owners/
tenants need to play an active role
and attend residents’ meetings,
AGMs and EGMs. Here is where the
fine lines are constituted andmeted
out. All issues are deliberated and
debated here ie. pertaining facilities,
security and safety issues, waste
disposal matters, fees and charges,
repair and renovation concerns,
restrictions and regulations, etc.
Owners of pets should check if pets
are actually allowedwithin the
premises. Differently-abled
individuals are also advised to
examine facilities available, if any.
MANAGEMENT BODIES AND
THE ‘PARTIES’ IN CHARGE
Another crucial piece of
information to be aware of is on
management bodies as “they” are
the ones responsible for
maintaining andmanaging the
“building or land intended for
subdivision into parcels and
common property, and other
relatedmatters. Themanagement
body role also rests on different
“parties”, depending on two criteria:
whether vacant possession of
parcels are delivered to strata
owners BEFORE the issuance of
strata titles; or
if vacant possession of parcels
are delivered to strata owners
AFTER the issuance of strata
titles.
Advice fromChris Tan: “Strata
living will be the preferredway of
community living. Best to take keen
interest and learn and understand
this livingmodel in order to get the
most out of it.”
With that, keepwith our series of
articles on strata property offering
valuable insights fromexperts. The
strata series resumes at the second
week of January 2018.
[* NOTE: Visuals and charts retrieved
fromOwner’sManual &Guidebook by
Chris Tan.]
X
X
Vacant possession of parcels are delivered to the
strata owners BEFORE issuance of strata titles
Developer
Management Period
From the date of delivery of vacant possession of parcel to Strata Owners up to
a period of not more than one (1) month after the 1st AGM of JMB (is defined
as“Developer’s Management Period” in SMA)
Joint Management Body (JMB)
Management Period
From the date of 1st AGM of JMB up to the date of 1st AGM of MC
- if the book of strata register is opened before 1st AGM of JMB, the
establishment of JMB shall not be required
Management Corporation (MC)
Management Period
From the date of 1st AGM of MC
* Subsidiary Management Corporation (Sub MC)
Management Period
From the date of 1st AGM of Sub MC
* if there are designated Limited Common Property within development area
z
z
Vacant possession of parcels are delivered to the
strata owners AFTER issuance of strata titles
Developer
Management Period
From the date of delivery of vacant possession up to a period of not more
than one (1) month after the 1st AGM of MC (is defined as “Preliminary
Management Period” in SMA)
Management Corporation (MC)
Management Period
From the date of 1st AGM of MC
* Subsidiary Management Corporation (Sub MC)
Management Period
From the date of 1st AGM of Sub MC
* if there are designated Limited Common Property within development area
z
WELLON ITSWAY ... Sime Darby Property’s 3rd City of ElminaMountain Bike (MTB) Jamboree
received overwhelming response once again, with over 1,000 participants fromvarious countries including
Philippines, South Africa, Denmark, theNetherlands and British IndianOcean Territory. The annual event
took place along a 33kmoff-road trail near the 2,700 acre forest reservewithin the developer’s City of Elmina
township, designed on the concept of “wellness” and “liveable city”. Participants of both the “Race” and
“Jamboree” categories won cash and other attractive prizes, as well as first-hand experience of the newly-
completed ElminaWest Central Park trails. “Nowadays, customers look beyond just the property – they look
at the quality of lifestyle the township has to offer and the City of Elmina has much to give, designed on the
principle of wellness. Wewant to encourage healthy lifestyles and establish vibrant community living. We
bring people together creatively in places and spaces where they can socialise, have fun, enrich each other’s
lives and just be happy,” said Sime Darby Property Chief OperatingOfficer Dato’ Wan Hashimi Albakri at
the event launch. Visit the Sime Darby website for information on its upcoming launch of townships that
encapsulate eight elements of wellness.
‘Layers’ of
learning
> Points to consider in buying strata property
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