7th April 2010
Today got the greatest alarm a human can get......or at least to me..... I were or should i say, the residents were awaken by the swaying of the building. This is the second time happen at our place and this one would be surely classified as strongest of them all. Below is the news taken from The Star newspaper hours later.
"KUALA LUMPUR: The Malaysian Meteorological Department has lifted the earlier tsunami alert it issued for coastal areas of Perlis, Penang and Kedah following the 7.5 magnitude earthquake in North Sumatra.
In a statement Wednesday morning, it said that it lifted the alert because only a small tsunami had occurred in Sumatra following the quake.
The earthquake had hit North Sumatera, 448km southwest of Pangkor Island Wednesday morning. Tremors were felt in the west coast of Peninsula Malaysia.
The department had earlier warned people to keep away from the beach.
The Associated Press quoted the US Geological Survey saying that the quake struck at 5.15am (2215 GMT) and was centred 205km northwest of Sibolga in Sumatra at a depth of 46km.
The Indonesia Meteorology and Geophysics Agency issued a tsunami warning following the quake, but lifted it two hours later.
Showing posts with label Newspaper Cutting. Show all posts
Showing posts with label Newspaper Cutting. Show all posts
Choosing Between Condo and Landed Property.
11th October 2009
If you have the choice of living in a condominium in the heart of a city or a terrace house in the suburbs, which would you prefer? Both have their good – and bad – sides and nobody could fault you for taking your time to decide.
It’s different strokes for different folks, though to many, especially parents and aunts, landed property has the edge over a condo anytime.
"Owning land itself is a plus point," said businessman and father of two grown-up children Hisham Ahmad.
"No matter how small the plot, you can do more in a terrace house … you can also be free from the restrictions that come with condo living.
"Some people feel a more complete sense of ownership with landed property."
Convenient city condos Quite a number of households in Kuala Lumpur and Petaling Jaya, however, prefer highrises as they like the convenience they provide as well as the ability to interact more closely with the city and all the lifestyle it has to offer.
"After a hectic day at work, some people, especially the younger bachelor types, like to spend their nights with friends until the wee hours," said upwardly mobile business development manager Marco De Booij.
"I, for example, am not the kind who wants to tend to gardens and worry about locking and unlocking gates and grilles... to me, a city condo is ideal as it comes with a host of facilities literally at my doorstep.
"These include a swimming pool, badminton, squash and tennis courts, a sauna and restaurants.
"I don't have to jump into the car and fight traffic to use any of these facilities.
Moreover, De Booij said city condo living promotes social bonding as "residents of various backgrounds and cultures can mingle and get to know one another at the swimming pool or the courts".
"This is important for racial integration the government is encouraging," he said.
Housewife Deslie Ang agreed, saying she feels secure living in a condo as it offers a number of layers of protection, from perimeter fencing to guarded entrance and card-access system to main door security.
"I don't have to worry about canvassers ringing my doorbell, which I would have to if I lived in a terrace house," she said.
However, Ang admitted that living in a highrise has its annoying moments, such as when a neighbour moves furniture around or "when he indulges in karaoke singing at two in the morning".
"But it's not the fault of the condo," she said. "It can happen anywhere there are people with poor social conscience".
The terrace as home For soon-to-be-wed freelance copywriter Elyas Ezanee, there’s no two ways about it: A terrace houses – preferably a bungalow – in a gated-andguarded residential estate is his idea of the perfect home.
"I'm thinking of having children soon. Living in a house with land would be more conducive.
"In the future, I want my children to be able to run around a park and grow up with a sense of space.
"I realise many new condo projects have landscaped gardens and playgrounds, but they’re common areas... nothing beats having space to call your own."
Elyas is not worried about the security element in landed living since "there are a number of gated-and-guarded terrace schemes available now, which provides security as good as that of a similarly priced condo".
Additionally, he said a landed property allows him to "park my car right in front of my door, where it is in front of my eyes".
"A home with land is for the long term; a condo is more suitable for the shorter term as it appeals mainly to the younger set: Bachelors and young families," he concluded.
"Once they outgrow their home, they’ll want to move to a place with land."
From a condo to a terrace Marketing executive Johan Jaafar, who just moved out of a condo to a terrace house, said he "moved to a condo soon after I got married".
"It was just my wife and I then, and we felt it best suited our lifestyle, since we are both working professionals.
"Four years later, though, when we started planning for a family, the thought of upgrading to a landed property came to mind.
"We decided on a terrace... not only would it be larger, it would also enable us to 'create a home', instead of just 'living in a house'," he said.
"Living in a condominium is like driving an automatic car, which will do most things for you...
"Living in a terrace house, on the other hand, is more like driving a manual.
"Although more energy is put into the effort, the fun and enjoyment you get is much greater."
Source: NST
If you have the choice of living in a condominium in the heart of a city or a terrace house in the suburbs, which would you prefer? Both have their good – and bad – sides and nobody could fault you for taking your time to decide.
It’s different strokes for different folks, though to many, especially parents and aunts, landed property has the edge over a condo anytime.
"Owning land itself is a plus point," said businessman and father of two grown-up children Hisham Ahmad.
"No matter how small the plot, you can do more in a terrace house … you can also be free from the restrictions that come with condo living.
"Some people feel a more complete sense of ownership with landed property."
Convenient city condos Quite a number of households in Kuala Lumpur and Petaling Jaya, however, prefer highrises as they like the convenience they provide as well as the ability to interact more closely with the city and all the lifestyle it has to offer.
"After a hectic day at work, some people, especially the younger bachelor types, like to spend their nights with friends until the wee hours," said upwardly mobile business development manager Marco De Booij.
"I, for example, am not the kind who wants to tend to gardens and worry about locking and unlocking gates and grilles... to me, a city condo is ideal as it comes with a host of facilities literally at my doorstep.
"These include a swimming pool, badminton, squash and tennis courts, a sauna and restaurants.
"I don't have to jump into the car and fight traffic to use any of these facilities.
Moreover, De Booij said city condo living promotes social bonding as "residents of various backgrounds and cultures can mingle and get to know one another at the swimming pool or the courts".
"This is important for racial integration the government is encouraging," he said.
Housewife Deslie Ang agreed, saying she feels secure living in a condo as it offers a number of layers of protection, from perimeter fencing to guarded entrance and card-access system to main door security.
"I don't have to worry about canvassers ringing my doorbell, which I would have to if I lived in a terrace house," she said.
However, Ang admitted that living in a highrise has its annoying moments, such as when a neighbour moves furniture around or "when he indulges in karaoke singing at two in the morning".
"But it's not the fault of the condo," she said. "It can happen anywhere there are people with poor social conscience".
The terrace as home For soon-to-be-wed freelance copywriter Elyas Ezanee, there’s no two ways about it: A terrace houses – preferably a bungalow – in a gated-andguarded residential estate is his idea of the perfect home.
"I'm thinking of having children soon. Living in a house with land would be more conducive.
"In the future, I want my children to be able to run around a park and grow up with a sense of space.
"I realise many new condo projects have landscaped gardens and playgrounds, but they’re common areas... nothing beats having space to call your own."
Elyas is not worried about the security element in landed living since "there are a number of gated-and-guarded terrace schemes available now, which provides security as good as that of a similarly priced condo".
Additionally, he said a landed property allows him to "park my car right in front of my door, where it is in front of my eyes".
"A home with land is for the long term; a condo is more suitable for the shorter term as it appeals mainly to the younger set: Bachelors and young families," he concluded.
"Once they outgrow their home, they’ll want to move to a place with land."
From a condo to a terrace Marketing executive Johan Jaafar, who just moved out of a condo to a terrace house, said he "moved to a condo soon after I got married".
"It was just my wife and I then, and we felt it best suited our lifestyle, since we are both working professionals.
"Four years later, though, when we started planning for a family, the thought of upgrading to a landed property came to mind.
"We decided on a terrace... not only would it be larger, it would also enable us to 'create a home', instead of just 'living in a house'," he said.
"Living in a condominium is like driving an automatic car, which will do most things for you...
"Living in a terrace house, on the other hand, is more like driving a manual.
"Although more energy is put into the effort, the fun and enjoyment you get is much greater."
Source: NST
The Space You Get
24th September 2009Your Sale and Purchase Agreement states that you're getting a house with 1,200sq ft of space. However, upon obtaining vacant possession, you discover that it's actually quite a lot smaller. Whoa, though. Before confronting your developer for explanations, there are some things you need to know.
First, you can't revoke your purchase based on this discrepancy � not even if a professional surveyor confirms that there is indeed a shortfall. However, you can recover some money from the developer if the difference between what you signed for and what you're actually getting exceeds a stipulated amount.
Second, the definitive size is what is stated in your property's final document of title or strata title. So, even if you engage an independent surveyor to measure your home, legally, courts will only rely on the title.
Third, your title must already be issued before you can make any challenge on the size. If you go to court before that, the developer's lawyers will argue that your case is premature.
But what if it's the other way around � what happens if your property is delivered with more space than was committed? Well, mum's not the word, and don't be too quick to pop the bubbly. You may just have to pay for the difference, which in some instances can be rather substantial.
Pay you say? Yes! Read your agreement. Depending on what you bought and when the original transaction was done (which is relevant if you didn't buy the property from the developer but from a previous owner), it can mean a world of difference.
If your purchase was done with the developer before 2002 � when agreements were governed by the Housing Development (Control and Licensing) Regulations 1989 � you would have to pay the difference.
One purchaser who declined to be named found this out the hard way.
In 1997, she bought a condominium that claimed to be 1,175sq ft from the secondary market. Years later, when her strata title was issued, she was informed by her developer that she needed to pay an additional RM5,000 because her unit was 40 sq ft larger. The amount equates to RM125psf, or the price at which the developer originally sold the unit to the first buyer.
After 2002, when the regulations were amended, stratified parcel owners were no longer liable to pay for any excess in built-up space, but purchasers of landed property had to pay up to a maximum of two per cent of the total land area as shown in their final titles.
In the same amendments, developers of stratified projects were required to pay for the difference in area only if the size shown in the strata title was smaller by more than three per cent.
Via the latest amendment made in 2007, this was subsequently adjusted to two per cent, which means that today, if you bought a 1,000sq ft unit but find your strata title states the size is at least 20sq ft smaller, the developer would have to pay you the difference based on a value as stated in the agreement.
National House Buyers Association honorary secretary general Chang Kim Loong said the amendments were made to favour purchasers.
"The two per cent difference is a reasonably accurate tolerance for construction, especially with respect to land sizes," he said.
"The amendment seeks to prevent excessive claims by the developer."
Chang added that in the legislation governing landed properties (Schedule H), only developers are contractually bound to pay because they did not use any "extra" land to construct the building structure.
The base land dimensions remain the same and the developers did not have to pay any "extra" cost that wasn't the consequence of their own doing.
In the event that a developer has been wound up by the time the final documents or strata titles have been issued, Chang advised purchasers to file a claim as an "unsecured creditor" against the defunct company.
Such claims, he said, have to be filed with the appointed liquidators.
Source: NST
Community Living Know-How
22nd September 2009As the country enters a new era of democracy, all of us are beginning to realise the importance of information so we can be aware of our rights and obligations.
This is especially true for apartment owners concerned about the management and maintenance of their projects, which is now governed by the Building & Common Property (Maintenance and Management) Act 2007 (BCP Act).
With the passage of this piece of legislation through Parliament in December 2006 and its introduction to the property landscape on April 12 last year, a framework for the establishment of a Joint Management Body (JMB) and the appointment of a Commissioner of Buildings (CoB) to administer the Strata Titles Act 1985 are now in existence, as are rules relating to the rights and obligations of owners.
Here, we sift through the legal jargon and complex issues of the BCP Act to point out some areas of interest:
What are allocated share units?
Many of us are used to seeing the contribution owners have to make towards a project’s common fund based on rates such as “20 sen per square foot per month”. But what determines “per square foot”?
The BCP Act says this is based on “share units” that are “assigned to each parcel (owner) by a developer’s licensed land surveyor”.
In Sections 8(1)(a) and 23(2), the BCP Act elaborates that contributions for maintenance and management charges must be collected in proportion to this “allocated share units”.
The term can be found in an individual strata title and, since Dec 1, 2002, in Schedule 5 of the standard sale and purchase agreements governing stratified properties (Schedule H of the Housing Development (Control and Licensing) Regulations, 1989).
What is common property?
Section 2 of the BCP Act defines common property as “so much of the development area … such as the structural elements of the building … the exterior of all common parts of the building … facilities and installations and any part of the land used or capable of being used or enjoyed in common by all the occupiers of the building”.
These include stairs and fire escapes, entrances and exits, corridors and lobbies, lifts, refuse chutes and bins, drains and sewers, water tanks and pipes, wires, cables and ducts, playing fields and recreational areas, driveways, open spaces, car-parks and parking areas as well as walls and fences.
Of interest is the inclusion of car-parks, as it seems to imply that once the developer has added up all the lots that need to be provided (consisting of bays allocated to unit owners as accessory parcels plus those required for visitor parking) any extra parking lots would become “common property”.
Developer contribution for unsold units
Under Section 12 of the BCP Act, the JMB or the developer must maintain a register of purchasers and keep track of the number of unsold units in the project, while in Section 17(b), the developer is required to contribute to the charges attracted by the unsold units as if they have been sold.
This puts an end to the problem owners had in the past, when it was not known whether the developer actually paid its share or even when an available unit was sold.
“Hidden” information, disclosed
In Section 13 of the BCP Act, it is stipulated that both purchasers and intending purchasers have the right to know previously “classified” information such as:
• The time and manner that maintenance charges are due;
• The extent, if any, in which these charges have been paid;
• The credit balance of the Building Maintenance Fund and the amount committed or reserved for expenses already incurred;
• Any repairs intended to be carried out and their estimated expenditure; and
• The amount paid and to be paid by the developer in respect of the unsold units.
With the section, purchasers are now able to check the financial health of the project they intend to buy into, so that they can make informed decisions.
Formation of House Rules In the BCP Act, the document governing the proper maintenance and management of a project, is called the “House Rules” whereas in the Strata Title Act, it is known as “bylaws”.
When the JMB undertakes its job of crafting the House Rules, it must do so carefully, making sure it leaves no stone unturned as its lifespan is for the long term.
It must not overlook duties and enforcement, nor the addition of the mechanics governing the subdivision of buildings or land, which can be found in Schedule 3 of the Strata Titles Act.
Once drafted to satisfaction, the House Rules must be lodged with the CoB within 14 days of the JMB passing the resolution to this effect. Thereafter, it would probably be adopted as “by-laws” when the stratified project’s Management Corporation (MCorp) is formed.
Lifespan of the JMB
Three months after the MCorp has held its first general meeting, the JMB will be deemed dissolved. However, the people owning stratified units who were on the JMB can also serve in the MCorp if they are elected to the council.
To ensure smooth transfer of duties, the JMB must provide to the new set-up within a month of the first general meeting:
1) The house rules;
2) The audited accounts of the Building Maintenance Fund (if not audited, the JMB has three months to do so);
3) A list of all assets and liabilities; and
4) Records related to and necessary for the maintenance of the project and its common property.
If these documents are not provided, Section 15(3) of the BCP Act states that every JMB member would be committing an offence that upon conviction, would attract a fine of not more than RM10,000 and a further penalty not exceeding RM1,000 for every day the offence continues after conviction.
Setting up of a Building Maintenance Account (BMA)
For a stratified project that has not been delivered with Vacant Possession (VP) by April 12, 2007, Section 16 of the BCP Act says its developer must open the BMA before VP is issued.
For a project already given VP but without an MCorp, its developer can continue to collect the maintenance and management charges (as it had previously done), but it has to submit to the CoB the audited accounts of all monies received, in compliance with Section 21 of the BCP Act. The developer can then continue looking after the income received until the JMB has been formed.
Under either circumstance, though, the developer is obliged to:
1) Deposit all proceeds into the BMA within two working days of receiving the monies;
2) Pay all charges relating to the unsold units;
3) Cause the BMA to be properly kept;
4) Appoint a professional to annually audit the BMA; and
5) File the statement of accounts and auditor’s reports with the CoB within 14 days of the audit. (This is to give the CoB full access to the BMA and allow it to hear any disputes arising from the accounts.)
Setting up of the Building Management Fund and Sinking Fund
After the JMB is established, any surplus money in the BMA must be transferred to the Building Management Fund for its administration.
The JMB is also responsible for opening a separate Sinking Fund, which it can use to pay for the upkeep of the stratified project’s common areas. This includes painting or repainting, acquisition of movable property and the renewal or replacement of any fixture or fitting.
Appointment of a managing agent
The CoB can appoint a managing agent for a stratified project if the owners do not attend the first meeting or if there are no volunteers to be office bearers for the JMB.
Rectifying defects in common property
When the developer delivers VP to the owners, it must also deposit with the CoB a sum as prescribed by the State Authority that is sufficient to pay for any rectification work in any part of the common areas.
Upon expiry of the standard Defect Liability Period (DLP), the unutilised portion of the deposit will be refunded to the developer.
This means the JMB should conduct a joint inspection of the common areas with the developer as soon as VP has been given so that any defects can be rectified before the deposit is claimed back.
Duties of owners
With the BCP Act, the responsibilities of individual parcel owners are also brought into clearer focus, especially with regard to payment of maintenance and management charges.
Should they fail to pay within 14 days of the due date, the BCP Act states they would be facing a late payment penalty not exceeding 10 per cent per annum.
Continued default without any reasonable excuse would attract a fine upon conviction of not more than RM5,000 and a further penalty not exceeding RM50 for every day the offence continues after conviction.
Owners of stratified units should thus realise their three-fold obligations: First, as individual parcel owners; second, as co-owners of the common areas and land in the stratified project; and third, as members of a body entrusted to manage and maintain the project.
Only such thinking will create a harmonious community.
Good maintenance, efficient management and desirable homes are the result of a diligent and conscientious JMB (or MCorp) team, supportive and understanding owners … and a steady flow of income into the common fund.
Without these ingredients, the outcome would be disastrous.
With the advent of the BCP Act, owners needn’t wait for strata titles to be issued before forming a body to take charge of their projects. They can now be at the helm of their destinies from a much earlier stage.
Source: NST
Joint Management Body (JMB)
29th June 2009DEVELOPERS of 86 apartments and flats have applied to the Seberang Prai Municipal Council in Penang to form the Joint Management Body (JMB) to streamline the management and maintenance of their buildings.
Council president Farizan Darus said the setting up of the JMC was required under the Building and Common Property Act 2007 and Strata Ownership Act.
He said it was important for developers to form the body as it was the first process of handing over the management and maintenance of premises to owners.
“We hope developers and owners will take this seriously as it is an offence not to set up the JMB which is aimed at putting in order the maintenance and management of high-rise dwellings, especially with regards to the collection of maintenance fees.
“Developers are given a year from the construction of their high-rise projects to form JMB,” he said.
“Once the JMB is set up, it is the duty of developers and owners to set up the management corporation,” he said.
“This will enable owners to have full control of the maintenance and management of their premises,” he told reporters after opening a briefing on JMCs at the council’s headquarters on Thursday.
Farizan said based on the council’s record, there were 521 high-rise buildings on the mainland, adding that 355 of the premises had applied to set up management corporations while 71 had their JMB applications registered.
He said the delay in the setting up of the JMB was due to the issue of maintenance fees as developers or their agents were always at loggerheads with unit owners over the matter.
“There are cases whereby residents accused developers of not maintaining their premises well while developers blame residents for their refusal to settle their maintenance dues.
“We hope this issue can be settled amicably between them as such disputes will delay the formation of the JMB,” he said.
Source: The Star
Problematic Housing Project
26th May 2009This article was published today in The Star newspaper and its worth reading. Although i don't think our project falls into this category but nontherless, its worth to know.
"PETALING JAYA: The Govern-ment has taken a decisive step to protect the interest of buyers left high and dry when housing projects are abandoned or delayed.
A special task force comprising senior representatives from the relevant agencies, government departments and private developers has been set up to tackle the problem.
According to the Housing and Local Government Ministry, the body, under Pemudah (the Special Task Force to Facilitate Business) would be headed by Chief Secretary to the Government Tan Sri Mohd Sidek Hassan.
The task force would look at rehabilitating and reviving abandoned, delayed and “sick” housing projects, the ministry said in a statement.
This would ensure that affected buyers would not face unnecessary financial burden and other social problems as a result.
The statement, issued yesterday, was in response to The Star’s report on May 9 calling for the setting up of such a body in view of the increasing number of abandoned and delayed housing projects, particularly in Selangor.
“The National Housing Department has received numerous complaints on problematic housing projects, especially those that have been abandoned,” the statement said.
“House buyers in such projects are faced with a burgeoning financial burden, as they have to service their loans and at the same time continue to rent houses.”
As at the end of February, 156 housing projects by private developers had been categorised as abandoned."
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