10 years and above multi-own strata residential Bronze: Mont’Kiara Bayu
Ageing is challenging, be it for people or buildings, but with good maintenance, time does not necessarily have to erode either’s appeal. The 18-year old mid-range Mont’ Kiara Bayu (MK Bayu) condominium in Mont’Kiara, Kuala Lumpur, which took home the Bronze at EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2020 in the 10 years and above multi-own strata residential category, testifies that prevention precludes needless cost for cure.
The project, which sits on a five-acre land, comes with facilities such as a grand porte-cochere overlooking the resort-style swimming pool, children’s playground, two tennis courts, BBQ pits and a poolside gazebo.
“There are a few aspects which the Management Corporation (MC) and the property management company need to ensure when it comes to old buildings such as the sustainability of the equipment in the common areas, the functionality of the mechanical and electrical (M&E) components as well as the maintenance of the facilities in the building,” MC chairlady Hah U Lian tells EdgeProp.my.
At MK Bayu, the MC and SCM Property Services Sdn Bhd (SCM) work closely together to ensure proper preventive and corrective action is taken on all the equipment such as the water tanks, pumps and M&E items so that regular services and replacements would have already been carried out before any major breakdowns.
“If we wait until then, it will burn a big hole in the pocket as major cost expenditure will be incurred,” Hah says.
SCM is a subsidiary of the property development company of UEM Sunrise Bhd (formerly Sunrise Bhd), the developer of MK Bayu.
SCM has drawn up proper maintenance SOP and preventive measures on all equipment, electrical components and facilities for the benefit of all residents.
“SCM will conduct an audit yearly and come up with a schedule on parts that need replacement. Working with the SCM team really eases the MC’s work and grant us peace of mind,” Hah adds.
Communication is key
SCM general manager Paul Richard believes that successful building management is dependent on not only the property management company, but the synergy and communication between the MC members and SCM.
“We conduct regular meetings via WhatsApp and e-mails, and monthly meetings are carried out to discuss issues and to gain approval to complete the tasks mandated. The MC members are involved in the management and maintenance of the building and they know what is being carried out as per the requirements of the building.
“The MC and the professional team share a common objective that is to achieve a better understanding of the needs of the residents as well as of the management and maintenance of the building. Working together also helps to ensure that all work, tasks and delivery of services are achieved without any hindrance,” says Paul.
All residents’ complaints and feedback are recorded in the Property Management System under the Customer Service Entry and Work Order portal. After that, the Management team will be given a time frame to complete the task before closing the entry.
Paul adds that with 80% of the residents being expatriates from Europe and Asia, they have to be multi-cultural and celebrate all the major festivals to enhance the value of the nation’s diversity. “We also involve the underprivileged children in the community in our events, where our residents come together to join us in this meaningful community service,” Paul adds.
MK Bayu is currently 89% occupied with around 66% of them being owner-occupiers while 34% of them are tenants. The maintenance fee collection rate for the project is 92%.
Some of the cost optimisation and innovation efforts in MK Bayu are the installation of LED lightings throughout the building to minimise electricity consumption, and using low-volatile organic compound paints for the internal and external walls to reduce irritable fumes and minimise the emission of harmful chemicals into the environment.
According to data from EdgeProp.my, the units in MK Bayu were transacted at an average of RM601 psf translating to an average of RM647,222 in 2019. Unit prices ranged from RM535 up to RM718 psf. Rental yield for MK Bayu was 5.18%. Chairlady Hah says that units in MK Bayu were transacted at an average price of RM280 psf back in 2002, which means that the value of the property has appreciated about 114.6% over the past 18 years.
“Throughout the years, the management team has successfully kept MK Bayu in peak condition through endless dedication in managing and sustaining MK Bayu.
“We are grateful to SCM, which will continue to maintain the development’s facade, facilities and all-round liveability at MK Bayu. We are entrusted to deliver the best to our owners and residents, and we believe, together with SCM’s capability, experiences and knowledgeable staff, coupled with the support and assistance provided from its HQ senior management team, we can make MK Bayu the best place to call home,” Hah concludes.
Get the full results of EdgeProp Malaysia’s Best Managed & Sustainable Property Awards 2020 here: https://www.edgeprop.my/awards2020
View the virtual awards ceremony here: https://buff.ly/2YFNcVg