A slew of wide-ranging changes have been proposed by the Building Maintenance and Strata Management Bill 2017 read in Parliament on 1 August 2017. The BMSM Bill, a result of the Public Consultation held earlier in the year is intended to do the following: to clarify what constitutes common property; to impose new duties
There are several reasons why an en bloc sale or collective sale is carried out. Apart from the potential gain from the sale, for properties on 99-year leases, such a sale ensures the future redevelopment of the property before the lease runs out and the government acquires it back at zero dollars. Owner's approval
Subsidiary proprietors in condominiums must make contributions for the maintenance of common property and ancillary expenses. Such contributions for maintenance comes in two forms - the management fund and the sinking fund. The management fund is for the day-to-day recurring expenses incurred in the running of the condominium estate. The sinking fund is to
The Building Maintenance and Strata Management Act (BMSMA) in Singapore provides a framework for management corporations (MCST), which comprise all unit owners within a development, to manage their own estates. The legislation is important as good sense and consideration are no longer enough in today’s environment with many people living or working in a
If you have been staying in your condo for over ten years, and feel the estate looks rather dull and tired, and in need of a good refresh, wouldn’t it be nice to add greenery - a lush garden to your rooftop and vertical walls? You will be pleasantly surprised that National Parks (NParks)
A common perception is that staying in a condo provides the safest dwelling option as compared to public housing or landed property. This is due to the presence of security guards, CCTV (closed-circuit TV) and fenced up parameters at a condo. Nevertheless, there are still potential security risks that the MSCT and condo residents
Singapore has been known as a ‘garden city’ for the last five decades, with lush trees lining the roads and plenty of ‘green lungs’ located across the island. However, in the past ten years, more building developers are going to great heights - such as the rooftop - to go green. This concept of
Management Corporations (MC) must hold Annual General Meetings (AGMs) every year, not more than 15 months after the previous AGM. This is required by section 27 of the Building Maintenance and Strata Management Act (BMSMA). Badly managed AGMs are not unusual; but there are ways to manage an AGM to ensure successful outcomes. The
