Crying need to safeguard welfare of apartments owners

Crying need to safeguard welfare of apartments owners
NST 19/09/2003

WHERE flats are concerned, the developer becomes the manager till individual title deeds are obtained. As manager of the flats, the developer takes on the role of maintaining the property and collects monthly maintenance charges from the owners.

The amount is arbitrarily fixed by the developer . The amount spent is only a pittance of the amount collected. The balance goes into the developer's pockets.

The developer also has a "sinking fund". All owners are compelled to remit a fixed sum to this "fund" which is utilized to renovate common premises.

Since the owners are not given any annual statements of this "fund" and the maintenance charges collected by the developer, the latter is free to make use of these funds as he pleases.

The Housing and Local Government Ministry should address these issues as well and safeguard the welfare of the flat owners.