Tuesday, June 23, 2015
CONVERSION OF MAINTENANCE CONTRIBUTION - FROM PER SQUARE FOOT TO SHARE UNIT BASIS FOR MANAGEMENT CORPORATION.
Following the formation of the MC (Management Corporation) at the 1st AGM on 4th April 2015, under the Strata Titles Act 1985 (Act 318) [section 45 (3) (b)] and the new Strata Management Act 2013 (Act 757) [section 12 (3)], the calculation for the monthly Service Charge and Sinking Fund contribution will be based on the number of Share Unit allotted for each Parcel effective August 1st 2015.
The number of shared units was determined by the Land Office and based on a complex formula determined by factors such as unit size, accessory parcels [e.g. parking spaces], private gardens and balcony areas.
Labels:
Accounts,
General,
Management Office,
MC
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