The Usual Place Podcast
Should the Government fund ageing condo repairs?
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In this episode, we'll talk about MCST management and whether this move could be a necessary lifeline for ageing estates.
More than 1,000 private residential developments in Singapore are hitting their 30s, and some are starting to show signs of wear and tear.
But if residents have not been prudent in saving for these big-ticket items such as upgrading lifts and fixing spalling concrete, should the Government step in to help?
Mr Andrew Lioe, president of the Association of Strata Managers, and Mr Daniel Chen, a lawyer and partner at Lee & Lee, with a practice focused on Management Corporation Strata Title (MCST) disputes, weigh in on the challenges with managing sinking funds and the tension among different types of owners.
Highlights (click/tap above):
3:42 How are sinking funds for condos managed?
6:24 Sinking fund kitty management woes
8:46 Why do owners want to delay adding to the sinking fund?
12:28 Why can’t MCSTs force owners to pay?
16:25 “The en bloc situation is not that common.”
17:22 The owner-occupied vs investor-owned mindset
20:31 What changes to the law could fix this problem?
24:34 Are problems caused by a selfish few?
27:58 The tension in mixed developments
31:43 Should the Govt step in to bail out condos?
35:48 Red flags when buying resale condos
Host: Natasha Ann Zachariah (natashaz@sph.com.sg)
Read Natasha’s articles: https://str.sg/iSXm
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Follow Natasha on LinkedIn: https://str.sg/v6DN
Filmed by: Studio+65
Edited by: Eden Soh
Executive producers: Danson Cheong
Editorial producer: Elizabeth Law
Channel: https://str.sg/5nfm
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Spotify: https://str.sg/cd2P
YouTube: https://str.sg/theusualplacepodcast
