Weekly Industry News

Strata property owners laud court’s decision on flat rate

Weekly Industry News

About six million Malaysians who live in strata properties will “benefit” from a Court of Appeal ruling that all owners in mixed development strata properties pay maintenance rates based on a fixed formula.

“It is not only high-rise buildings but also gated and guarded communities that have strata titles,” said Strata Owners Association Malaysia (SOAM) pro-tem committee chairman Datuk Theng Book.

The court decision, he added, was good and fair to everybody.

Explaining the impact of the ruling, he said: “Take a scenario where a mixed development property has a residential block comprising 100,000 share units and a commercial block comprising 100,000 share units.

“The residential block is made up of 300 apartments or residents, but the commercial block is owned by the developer that can be represented by one or two persons.

Media Title:  The Star

Date: 29 Oct, 2019

Photo Credit

We take processes apart, rethink, rebuild, and deliver them back working smarter than ever before.