You are not only paying for your unit, but everything in your building too.
If you live in a condo, apartment, serviced residence, or gated community in Malaysia, you probably pay maintenance fees. Sure, your own unit has its own utility bills, but the common area will usually be handled by the property's management.
Whether it's electricity, water, or ventilation in common areas like parking lots and corridors, these utility bills can be substantial. If you live in a gated community or stratified development, security is also a major reason why you're paying the maintenance fees. The cost for security also rises if your property runs 24-hour shifts and has multiple entry points to the compound. This is something that's often overlooked but very important to your safety along with other residents.
This can include repainting the building, replacing old lifts, fixing roofs, or waterproofing works. Think of it as the property's savings account for expensive fixes later. That is why a well-managed older building can often feel far better maintained than a newer project with messy management.
The biggest factor that determines your property's maintenance fees is theBefore the Strata Management Act 2013, monthly maintenance charges and sinking fund contributions were usually calculatedThe higher the share unit assigned to your unit, the more you'll usually need to pay each month. It's also important to note that fees tend to increase as the building ages, this is simply due to higher costs of keeping the property maintained.
Towfiqu barbhuiya/Pexels Once payment remains overdue for 14 days after receiving a notice of demand, the Management Body has the right to take several actions:Restrict you from using shared facilities and common servicesFreehold Vs Leasehold: What's The Difference And How It Affects You As A HomebuyerBolt Introduces Multi-Stop Trips & Discounts To Help Malaysians Save On RidesRead the full story
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