fiRST AGM

[marktkt22]

What to expect for first agm ? what do we need to do?
Current MA is appointed by the developer
and the 1st year defect liability over by nxt mth...
Appreciate some inputs from the bro and sis in this forum ....thanks in advance

[bullman]

What to expect for first agm ? what do we need to do?
Current MA is appointed by the developer
and the 1st year defect liability over by nxt mth...
Appreciate some inputs from the bro and sis in this forum ....thanks in advance

You may want to volunteer to be involved in the committee. Ask for an extension period for defect so that every unit can get a chance to rectify any problems.

I think the developer is doing a less than satisfactory job rectifying the defects and there are too many illegal cars parking in the estate.

Heard that the main gate sensor is not working again?

[marktkt22]

Bullman,

Yap, will volunteer for the committee
I had tabled a long long list of issues and defect to the MA.
But they kinda slow to response and solved....

The Main auto gate spoilt ....Damn, i got locked out.
Already tell MA, they fix that yesterday evening

[marktkt22]

Btw, the defenses referred to estate defects. building defects
Individual unit , they should tabled and send to developer asap, i think.

[peterng8]

What to expect for first agm ? what do we need to do?
Current MA is appointed by the developer
and the 1st year defect liability over by nxt mth...
Appreciate some inputs from the bro and sis in this forum ....thanks in advance

go and eat the buffet spread la .....

[buttercarp]

go and eat the buffet spread la .....

Got buffet, meh?
My place only got new water.

Usually there are some people who go round with proxy forms collecting signatures of residents who usually blindly sign it without fully understanding the motion.
So if you feel strongly about a certain issue, you should maybe go round with proxy forms to collect signatures.

[peterng8]

Got buffet, meh?
My place only got new water.

Usually there are some people who go round with proxy forms collecting signatures of residents who usually blindly sign it without fully understanding the motion.
So if you feel strongly about a certain issue, you should maybe go round with proxy forms to collect signatures.

poor thing...nothing to eat still have to raise issue....ours we keep our mouth shut let the whole thing ends fast and we whack the buffet with full family and go home...

[buttercarp]

poor thing...nothing to eat still have to raise issue....ours we keep our mouth shut let the whole thing ends fast and we whack the buffet with full family and go home...

Your management is smart in providing good food.
Good food = good mood = agreement.
Btw, do they provide those sticky cake so after eating it, your mouth gets stuck and you can't talk?

[richwang]

new water for our project as well.

you might find the following useful.

www.bca.gov.sg/bmsm/others/strata_living.pdf

Thanks,
Richard

[peterng8]

Your management is smart in providing good food.
Good food = good mood = agreement.
Btw, do they provide those sticky cake so after eating it, your mouth gets stuck and you can't talk?

eat after AGM even those want to talk can have a chance to open their mouth..

last time lagi best...chinese reunion dinner but halal one...

[marktkt22]

Thanks Richard, for the link

new water for our project as well.

you might find the following useful.

www.bca.gov.sg/bmsm/others/strata_living.pdf

Thanks,
Richard

[Laguna]

to share, IMHO, the first AGM..

1. check the income and expediture for the period managed by the developer, and make sure there is a realistic budget for the coming year, and with sufficient fund to cover the expense, and if need to, propose a sinking fund as well.

2. need to have a few strong SPs with time and willing to commit to the estate


Once the MC is formed, there are some tasks to be done
1. get a strong managing agent
2. sum up all the past defects in the common properties and have a in depth inspection if needed.
3. review all the contracts and plan to recall some if service is no good or too costly.

[marktkt22]

Thanks laguna for your advice.
That useful info for newbie like me

[mcmlxxvi]

to share, IMHO, the first AGM..

1. check the income and expediture for the period managed by the developer, and make sure there is a realistic budget for the coming year, and with sufficient fund to cover the expense, and if need to, propose a sinking fund as well.

2. need to have a few strong SPs with time and willing to commit to the estate


Once the MC is formed, there are some tasks to be done
1. get a strong managing agent
2. sum up all the past defects in the common properties and have a in depth inspection if needed.
3. review all the contracts and plan to recall some if service is no good or too costly.

Yes... Think thats why we are called Subsidiary Proprietors as we are in fact like owning and running the business (estate) ... And just like many businesses there are active owners and sleeping partners...

[richwang]

Any clue of what is the reasonable management fees for MM Project with 100+ units?

I am paying S$150 per month. But a quick calculation from their accounts shows I need to pay S$220 per month.

I have happy to pay that amount, but is it the norm?

If owners refuse to pay enough fund, will the project become very run down 5-10 years later?

Thanks,
Richard

[DC33_2008]

Not cheap for a MM. Must be in the prime district. I am paying this for a 2 bedder in CCR.

Any clue of what is the reasonable management fees for MM Project with 100+ units?

I am paying S$150 per month. But a quick calculation from their accounts shows I need to pay S$220 per month.

I have happy to pay that amount, but is it the norm?

If owners refuse to pay enough fund, will the project become very run down 5-10 years later?

Thanks,
Richard

[CCR]

Any clue of what is the reasonable management fees for MM Project with 100+ units?

I am paying S$150 per month. But a quick calculation from their accounts shows I need to pay S$220 per month.

I have happy to pay that amount, but is it the norm?

If owners refuse to pay enough fund, will the project become very run down 5-10 years later?

Thanks,
Richard

Do not fall into the trap of saving money on sinking funds and mgmt fund...

A lot of cheapo sinaporean stay in condo then want to sting on monthly mgmt and sinking fund and in 10 years the condo will look like its 30 years old....

This is extremely short sighted...

just an example... if we spend just an extra $100 a month per unit... That will be $1200 per unit... x 10 years.... its only $12,000....

If you own a 1000sqft unit thats 12,000/1000... thats $12 per sqft....

dont you think you can recoup back these $12 psf if your condo is well maintained? you will prob get more in return...

Why do you think those high end CCR condo have high maintaince fees.... Coz they know how to preserve the value of their investment

[richwang]

Well said.
But the problem is I am the only person supporting a price raise.
The others just want to have better security guards, etc
and simply ignore the fact of shortfall in the fund.

Maybe some of them will just sell in less than 5 years.

I will insist people pay what they enjoy in the next meeting.
They are changing the Security Guard from Grade C to Grade A, from 1 night security guard to 2 night security guards. Just for this, S$30 more per unit is required.

Thanks,
Richard
PS. Is it a bad idea for no security guard? Some small project has no security guard, and it saves about 30% of the budget.

[peterng8]

Well said.
But the problem is I am the only person supporting a price raise.
The others just want to have better security guards, etc
and simply ignore the fact of shortfall in the fund.

Maybe some of them will just sell in less than 5 years.

I will insist people pay what they enjoy in the next meeting.
They are changing the Security Guard from Grade C to Grade A, from 1 night security guard to 2 night security guards. Just for this, S$30 more per unit is required.

Thanks,
Richard
PS. Is it a bad idea for no security guard? Some small project has no security guard, and it saves about 30% of the budget.

more security guards do not mean your place will be more secure... it will depend on how good your mgmt and guard are running the place...

[Rosy]

PS. Is it a bad idea for no security guard? Some small project has no security guard, and it saves about 30% of the budget.

There are many small projects without the luxury of having security guards due to economy of scale. I have not heard much about a breach of securities of such projects.

For small projects, it all depends on the strength and cohesiveness of the residents staying there to maintain and run the estate.

[richwang]

We've just got a few Committee members resigned.
Any incentives to keep people stay in the committee?

1) Allow one more parking quota?
2) Nice dinner?

... or

3) Get their prefered contractors to serve the project?

Does the law allow office bearers be paid token allowance?

Thanks,
Richard
PS. I am not an office bearer.

[hopeful]

why dont follow Singapore government style? Pay them attractive salary.

if people doesnt want to serve their own condo for no money, what more ask people to serve their country?

[buttercarp]

why dont follow Singapore government style? Pay them attractive salary.

if people doesnt want to serve their own condo for no money, what more ask people to serve their country?

It's true.....who wants to work for free?

In my place, during the AGM, some residents treat the resident committee members like servants.

The members have to keep reiterating that they are there to serve the residents voluntarily and it is not their job but everyone's to contribute towards harmonious living.

So there should be attractive incentives for them.

[PN]

why dont follow Singapore government style? Pay them attractive salary.

if people doesnt want to serve their own condo for no money, what more ask people to serve their country?

It's not because of money lah

Have you been a committee member before?
Do you know how much sacrifice committe members has done?

I've never been a CM but seen them spending their evening & weekends doing meetings. CM also take up project to improve the condo facilities & environment.

Have you seen committee members get scolded by the SP in AGM?
People just don't appreciate their efforts & keep complaining as if they can do a better job. But nobody want to be one.

A NO for me as well.

[teddybear]

No security guard considered a condo?
Surely having a security at least is good right? Otherwise how to ensure there are no strangers walk in and out of your private estate? "private estate" become "public" estate? What is the difference compared to HDB flats?

Well said.
But the problem is I am the only person supporting a price raise.
The others just want to have better security guards, etc
and simply ignore the fact of shortfall in the fund.

Maybe some of them will just sell in less than 5 years.

I will insist people pay what they enjoy in the next meeting.
They are changing the Security Guard from Grade C to Grade A, from 1 night security guard to 2 night security guards. Just for this, S$30 more per unit is required.

Thanks,
Richard
PS. Is it a bad idea for no security guard? Some small project has no security guard, and it saves about 30% of the budget.

[ysyap]

I've been to condos with security guards like no guards. They open the gate and smile at you even when you are a visitor to the condo. No further questions asked... wow!

[teddybear]

Wah ha?
Oh may be you better be careful because there is another pair of "eyes" following where you go? They have comprehensive CCTV cameras all around the estate right?

I've been to condos with security guards like no guards. They open the gate and smile at you even when you are a visitor to the condo. No further questions asked... wow!

[marktkt22]

Hi, for an apartment with just pool, what normally need to derive the sinking fund? Our firsw agm coming soon. 20 resident, small plot. I want to ensure sinking fund is sufficient

[Rosy]

Hi, for an apartment with just pool, what normally need to derive the sinking fund? Our firsw agm coming soon. 20 resident, small plot. I want to ensure sinking fund is sufficient

First of all, you need to decide on a good condo manager during your first AGM. You can use back the current one if they have been doing a good job.

[marktkt22]

First of all, you need to decide on a good condo manager during your first AGM. You can use back the current one if they have been doing a good job.

Thanks, likely we will change