theSun Property September 2016

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emits a vintage feel treatedwith
modern textures and expressions.
Cosy and compact, the retro-
modern theme carried right through
the home offers warmth and a
family atmosphere, fitting families
with teen or young-adult children.
Starting at RM850,000 each unit,
Secoya Residences will be ready by
early 2019. Drop by IJMLand’s
Centre of Excellence or ICEGallery
at Pantai Sentral Park for amulti-
sensorial feel or more information.
LAST monthwe ran a series of
articles on issues and
problems faced by owners
and residents of strata-titled
residences. We covered the
dilemmas of those living in
apartments, condominiums,
serviced apartments, studios,
duplex units and such. Having
receivedmany queries andmuch
feedback, we feature today an
informative article by Chur
Associates founder andmanaging
director Chris Tan (via an
iProperty.comonline piece)
highlighting strata owner’s rights
and responsibilities.
BURGEONING OF STRATA
Strata living is fast becoming a way
of life inMalaysia. Currently, about
30%of the country’s population is
reported to be residing in strata-
titled buildings.
The term “strata” was legally
introduced in 1985 in response to the
growing number of multi-storey
structures as a result of urbanisation
inmajor cities such as Kuala
Lumpur, Penang and Johor Baru.
Strata-titled buildings were put
Condo conundrums
> Strata owners rights and responsibilities
under the spotlight when the Strata
Management Act 2013 (SMA 2013)
was implemented in June 2015. It
replaced the Building and Common
Property (Maintenance and
Management) Act 2007 (BCPA
2007). The new enactment stood to
correct the limitations of its
predecessors, providing clearer and
more stringent provisions on the
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prices, a well maintained and
properlymanaged residence will
see appreciation in value,” he said.
And how themaintenance is
supported is by the service charge
(SC) and sinking fund (SF) collected
from residents.
STRATA IN THE SPOTLIGHT
SC is explained as themonthly
payment owners of strata properties
need to provide towards
maintaining common facilities and
common property in the
development such as swimming
pools, elevators, security services,
etc. The SF has nothing to dowith
one’s property sinking, instead, it
covers future capital expenses,
which are not as frequent, such as
the painting of the facade and
refurbishment or replacement of
fixtures. These funds must be
sufficient to cover all the
development’s expenses and are
usually collected in advance. A
charge of 10%of the service charge
is customarily applied.
However, inMalaysia, strata
residents have yet to adopt the
“community living” concept as Tan
shares that many shirk from their
duties in settling their SC on time.
He even provided statistics
informing that only 50%of strata
residents inMalaysia pay SC on
time and pointed out that there are
some property owners who, at
times, cannot afford to pay their SC,
which causes the strata
management to fail to perform the
necessary repairs and other facelifts
due to lack of funds.
With the SMA 2013 enforced, Tan
says that the Joint Management
Bodies (JMB) and the other group of
strata owners can rejoice. “Errant
strata owners can no longer get
away scot-free as the SMA 2013 saw
to the establishment of the Strata
Management Tribunal (SMT),
which states that any strata owner
who fails to pay their SC can be
brought before the SMT for an
order to pay up.”
As the SMA 2013 presents a clear
outline of the responsibilities and
limits of authority among
developers, local governments and
residents, Tan feels that strata
owners should bemade aware of
their rights and responsibilities,
nowmore than ever.
“As developers will not be
managing the strata property
forever, the onus lies with the
owners whowill need to take full
responsibility for the entire
building, eventually.”
With the responsibility in the
hands of the owners, followour
article next weekwhere Tan shares
the 10 basic rights and obligations of
a strata-titled property owner.
PHOTO:
THE 10 to 15-year project by IJM
Land called Pantai Sentral Park is
already taking shape. Known as
“Kuala Lumpur’s One andOnly
Urban Forest City”, the landmark
development nestled upon 58 acres
consists of seven residential and six
commercial phases. The second
residential phase within this
township called Secoya Residences
offers two distinct interior design
concepts of generously-sized units
that come with breathtaking views.
FOR CLASSY CHIC
LIFESTYLES
Secoya Residences spans across 3.47
acres and comprises 243 residential
condominiums of between two and
four-plus-one bedrooms. These are
strategically built within a 41-storey
tower offeringwide frontage living
spaces.
While Type A units exude a
“young and energetic” concept in its
two-bedroomdesign that runs
across 1,050 sq ft – its interiors of
sporty chic emanate an avant-garde
flair, ideal for the budding
professional or newlymarried
couple. Home buyers with larger
families will be drawn towards the
1,670 sq ft four-plus-one bedroom
Type C units. Interior design here
Pantai Sentral Parkphase twoopens for booking
management of stratified-titled
buildings inMalaysia, covering
residential, commercial andmixed-
use development.
STRATA IN BRIEF
Many owners of strata properties
however, are still unaware of the
meaning of strata and the rights the
SMA 2013 provides themwith.
Dispelling the common
misconception that strata
properties refer only to high-rise
units, Tan clears the air, informing
that strata properties are not limited
to condominiums and apartments.
“Gated and guarded landed
developments are in fact, also
known as ‘horizontal strata’ and fall
under this category as well.”
As Tan oncementioned during a
Malaysian Property Expo (Mapex)
fair where he delivered a talk and
made an analogy between strata
owners and shareholders of a public
listed company. He said that both
were no different.
“This is because the value of
their residence (strata property) is
dependent on its upkeep and
condition. Similar to how a well-run
companywill see climbing share
PART4
Pantai Sentral Park sales andmarketingmanager Grace Foo standing
next to a scaled-downmodel of Secoya Residences.
PHOTO:
20 theSun ON FRIDAY | SEPTEMBER 16, 2016