10 Years And Above Multi-Own Strata Residential: Gold: Mont’Kiara Pelangi

“I was trying to sell a story (to the security guards) so that I can get into (MK Pelangi) to see the place myself. But the guards were doing a very good job, I could not get in at all. That was when I knew that this is the place that I was looking for my growing family,” says Farouk Zahir, the chairman of Mont’Kiara Pelangi Management Corporation (MC), as he recalls what prompted him to set up home at Mont’Kiara Pelangi (MK Pelangi) in Kuala Lumpur 20 years ago.

After renting a unit at MK Pelangi for a few years, Farouk then bought it.

“I’m a very particular person especially when it comes to security and safety. What MK Pelangi impressed upon me the most were the tight security and well maintained environment,” he tells EdgeProp.my. 

One of the first condominiums in the Mont’Kiara enclave, MK Pelangi is 23 this year and is a Gold winner at EdgeProp Malaysia’s Best Managed Property Awards 2019 in the 10 years and above multi-own strata residential category.

Sitting on a 4.4-acre freehold site in Jalan Kiara 1, the project features two towers: Apollo Tower and Venus Tower housing 303 units with an average built-up size of 1,390 sq ft.

When Farouk first moved in, he says there was mist in the morning and children could play freely by the road side because traffic was light. The environment is very different now.

“It is important for us to adapt to changes in the environment and to changes brought on by technology,” says SCM Property Services senior manager Krishnaraj Perumalu, the former on-site property manager of MK Pelangi.

“MK Pelangi is aging, but I’m pleased to see it aging gracefully, thanks to the hard work of past MC members and the property management team,” says Farouk, praising SCM Property Services Sdn Bhd, the appointed property management team, for its commitment in managing the project over the past 23 years. SCM Property is a subsidiary of UEM Sunrise Bhd, formerly known as Sunrise Bhd, the developer of MK Pelangi.

“Property management is not a 9 to 5 job. It is not a single skill job. A property manager has to be responsive to residents and the MC no matter what time and day. He or she must have knowledge of technical and building management,” Farouk shares.

He cites for example the time when the children’s playground was closed because of a defect.

“The property manager had the technical knowledge to inspect the playground, so he was able to make the correct decision before someone got hurt. We will never take risks on safety and security. You will not find any safety hazards in our common areas such as uncovered drains or broken glass because the management team walks around the place every day,” offers Farouk.

Other upgrading works to enhance safety include refurbishment of the swimming pool, replacement of the playground flooring and replacement of the car parks’ main pipe to a water tank. As for security, besides reviewing the in-house security standard operating procedure (SOP), the guard house was rebuilt with enhanced security features.

Special fund

Although the collection rate at MK Pelangi is maintained at 95% and the MC has a healthy financial account, a decision was made to set up a special fund for major upgrading works such as the change of old piping in 2009.

Krishnaraj says the special fund is provided for under the then Strata Titles Act 1985. “Instead of increasing maintenance fees, we decided to collect a special fund,” he shares.

However, prior to collection for the special fund, the management team held roadshows and awareness campaigns on the need for the fund to get upgrading projects done.

“It was not difficult to get the special fund collection resolution passed in the AGM. The challenge was to deal with those who did not attend the meeting. The campaign and roadshows were very helpful in educating them about the benefits of up-keeping the property,” he adds.

Krishnaraj also partly attributes the healthy property price growth that MK Pelangi enjoys to the major refurbishment and upgrading works done over the past decade.

The average transacted price for MK Pelangi is around RM650 to RM700 psf currently. It was around RM400 psf about 10 years ago.

“When there are more choices in the vicinity, it is important to upkeep older condominiums like MK Pelangi to attract tenants and to uphold their value. It is also a way to show them how committed the MC is to sustaining the value of their property,” he says. 

SCM Property Services general manager Paul Richard says one of the most important tips for property managers is to never make decisions for the residents.

“A professional property manager should be assisting the MC and residents. If the MC wishes the property to be a family-oriented place, our job is to provide our opinion and guide them, but not to make the decision for them.

“MK Pelangi is a succesful example of a well managed property with residents who have a clear vision and assisted by the property management team,” Paul shares. 

The highlights of the Awards:

Housing and Local Government Minister Zuraida Kamaruddin on good property management:

For an overview of the winners at the Awards: Tan Sri Jeffrey Cheah named Malaysia’s Exemplary Leader of Sustainable Development 2019

For more information about the Awards night and the winners, click here.

This story first appeared in the EdgeProp.my pullout on April 26, 2019. You can access back issues here.

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