The House Buyers’ Association (HBA) is steadfast and unwavering in our views that there should be variable rates for mixed development schemes. Mixed developments involve issues extending beyond the mere use of parcels and the factors enumerated in the formula contained in the First Schedule of the Strata Management Act, 2013 (SMA).
It was reported that EPF has approved withdrawals totalling RM1.66 billion by 3.5 million contributors under the i-Lestari initiative launched last month. However, is RM500 per month enough to help them pay for their shelter or even feed their families? Will such pittance be sufficient to resuscitate their failing businesses?
“A late Covid-19 Act is redundant in nature. You cannot legislate back to life a business that has already closed down due to the failure of owners to sustain their business and pay rent during the MCO.”
It is certainly not within the contemplation of most Malaysians to have their lives come to a grinding halt hence it would be utterly unjust to hold them liable for their failure to fulfill their contractual obligations, under the circumstances.
For the average person, buying a property is the single biggest financial commitment in his or her lifetime, hence careful thought and planning is a must.
The name “sinking fund” is not meant to be taken literally, but in some stratified developments, there are sinking funds that have sunk and totally disappeared.
En bloc strata sale is where a certain piece of land with buildings erected on it is identified for acquisition by commercial developers.
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