How are sinking funds for condos managed?

Sinking fund kitty management woes

Why delay contributing to the sinking fund?

Why can’t MCSTs force owners to pay?

“The en bloc situation is not that common.”

Owner-occupied vs investor-owned mindset

Changes to the law could fix this problem

Are problems caused by a selfish few?

The tension in mixed developments

Should the Govt step in to bail out condos?

Red flags when buying resale condos

)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):

1:44 How are sinking funds for condos managed?

4:44 Sinking fund kitty management woes

6:48 Why do owners want to delay adding to the sinking fund?

10:30 Why can’t MCSTs force owners to pay?

14:27 “The en bloc situation is not that common.”

15:24 The owner-occupied vs investor-owned mindset

18:33 What changes to the law could fix this problem?

22:36 Are problems caused by a selfish few?

26:00 The tension in mixed developments

29:45 Should the Govt step in to bail out condos?

33:50 Red flags when buying resale condos

Host: Natasha Ann Zachariah (natashaz@sph.com.sg)

Read Natasha’s articles: https://str.sg/iSXm

Follow The Usual Place podcast on IG: https://str.sg/8KNT

Follow Natasha on LinkedIn: https://str.sg/v6DN

Filmed by: Studio+65

Edited by: Eden Soh

Executive producer: Danson Cheong 

Editorial producer: Elizabeth Law

Follow The Usual Place Podcast and get notified for new episode drops every Thursday:

Channel: https://str.sg/5nfm

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Spotify: https://str.sg/cd2P

YouTube: https://str.sg/theusualplacepodcast

Feedback to: podcast@sph.com.sg

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#tup #tuptr

)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 &amp; 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):
1:44 How are sinking funds for condos managed?
4:44 Sinking fund kitty management woes
6:48 Why do owners want to delay adding to the sinking fund?
10:30 Why can&rsquo;t MCSTs force owners to pay?
14:27 &ldquo;The en bloc situation is not that common.&rdquo;
15:24 The owner-occupied vs investor-owned mindset
18:33 What changes to the law could fix this problem?
22:36 Are problems caused by a selfish few?
26:00 The tension in mixed developments
29:45 Should the Govt step in to bail out condos?
33:50 Red flags when buying resale condos
Host: Natasha Ann Zachariah (<a href="mailto:natashaz@sph.com.sg">natashaz@sph.com.sg</a>)
Read Natasha&rsquo;s articles:<a href="https://str.sg/iSXm"> https://str.sg/iSXm</a>
Follow The Usual Place podcast on IG: <a href="https://str.sg/8KNT">https://str.sg/8KNT</a>
Follow Natasha on LinkedIn: <a href="https://str.sg/v6DN">https://str.sg/v6DN</a>
Filmed by: Studio+65
Edited by: Eden Soh
Executive producer: Danson Cheong&nbsp;
Editorial producer: Elizabeth Law
Follow The Usual Place Podcast and get notified for new episode drops every Thursday:
Channel: <a href="https://str.sg/5nfm?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/5nfm?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/5nfm</a>
Apple Podcasts: <a href="https://str.sg/9ijX?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/9ijX?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/9ijX</a>
Spotify: <a href="https://str.sg/cd2P?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/cd2P?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/cd2P</a>
YouTube: <a href="https://str.sg/theusualplacepodcast?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/theusualplacepodcast?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/theusualplacepodcast</a>
Feedback to: <a href="mailto:podcast@sph.com.sg?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="mailto:podcast@sph.com.sg?ref=inline-article" aria-label="link" data-testid="custom-link">podcast@sph.com.sg</a>
SPH Awedio app: <a href="https://www.awedio.sg/?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://www.awedio.sg/?ref=inline-article" aria-label="link" data-testid="custom-link">https://www.awedio.sg</a>
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Follow more ST podcast channels:
All-in-one ST Podcasts channel: <a href="https://str.sg/wvz7?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/wvz7?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/wvz7</a>
Get more updates: <a href="http://str.sg/stpodcasts?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="http://str.sg/stpodcasts?ref=inline-article" aria-label="link" data-testid="custom-link">http://str.sg/stpodcasts</a>
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Google Play: <a href="https://str.sg/icyX">https://str.sg/icyX</a>
--
#tup #tuptr

Natasha and her guests unpack the latest current affairs, every Thursday.

Synopsis: Join host and correspondent Natasha Ann Zachariah every Thursday live at noon, as she unpacks the latest current affairs with guests. 

Podcaster: Natasha Ann Zachariah

Executive producers: Danson Cheong

Editorial producer: Elizabeth Law

A podcast by The Straits Times, SPH Media

Synopsis: Join host and correspondent Natasha Ann Zachariah every Thursday live at noon, as she unpacks the latest current affairs with guests.&nbsp;
Podcaster: Natasha Ann Zachariah
Executive producers: Danson Cheong
Editorial producer: Elizabeth Law
A podcast by The Straits Times, SPH Media