{"id":44794,"date":"2017-02-20T09:45:37","date_gmt":"2017-02-20T02:45:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/annual-review-of-condo-managing-agents-no-longer-needed\/"},"modified":"2017-02-20T12:11:24","modified_gmt":"2017-02-20T05:11:24","slug":"annual-review-of-condo-managing-agents-no-longer-needed","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/annual-review-of-condo-managing-agents-no-longer-needed\/","title":{"rendered":"Annual review of condo managing agents no longer needed?"},"content":{"rendered":"


\nBased on the public\u2019s views, the authorities may eliminate the mandatory annual review of condo managing agents.
\nThe government is seeking the public\u2019s feedback on 33 proposed amendments to the Building Maintenance and Strata Management Act, one of which would eliminate the mandatory annual review of managing agents of strata-titled properties, reported the Straits Times.
\nUnder existing rules, managing agents are appointed by a condo\u2019s managing body or Management Corporation Strata Title (MCST) for up to three years. But their contract can be rescinded based on a review of their performance during the annual general meeting.
\nAccording to the Building and Construction Authority (BCA), it doesn\u2019t make sense to do a review every year, given their tenure of three years. However, some residents of strata-titled properties are not in favour of this amendment.
\n63-year-old Winnie Tan, a retired corporate secretary who lives in a condominium at Upper East Coast Road, said their \u201ccouncil is having difficulties negotiating the fees with the managing agent\u201d.
\nBut if the annual review is no longer necessary, \u201ccondo owners will have difficulty terminating non-performing managing agents without incurring penalty costs\u201d.\u00a0 Moreover, managing agents are unlikely to place the interest of condo owners before theirs if the tenure is long.
\nMeanwhile, 21-year-old undergraduate Chan Kai Yan said managing agents have a tendency to form close ties with the management council, and this may not be in the best interests of residents, especially if there is no yearly review.
\nFor example, the managing agent at his grandmother\u2019s Bukit Timah condo had allegedly failed to account for wheel-clamp release fees, but the BCA could not act on this as the management council had approved the accounts without including the said fees at the annual general meeting.
\nOn the other hand, managing agents lauded the proposed amendment as it would help them plan for a longer term.
\nFurthermore, the council can still revoke the contract of a non-performing managing agent without having to wait three years, as there\u2019s always a provision for termination in the agreement that can be exercised by either party, noted Eleana Teo, Managing Director at Knight Frank Property Asset Management (Strata Management).
\nThe public have until tomorrow to send their feedback on the proposed amendments.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Annual review of condo managing agents no longer needed?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Based on the public\u2019s views, the authorities may eliminate the mandatory annual review of condo...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-44794","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bEu","jetpack-related-posts":[{"id":42601,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-seeks-public-feedback-on-building-maintenance-and-strata-management\/","url_meta":{"origin":44794,"position":0},"title":"Govt seeks public feedback on Building Maintenance and Strata Management","date":"February 2, 2017","format":false,"excerpt":"\r Introduced in 2005, the Building Maintenance and Strata Management Act provides a legal framework for the management and maintenance of strata-titled properties. In a bid to enhance governance and transparency over how strata-titled developments are run, the government is inviting the public to give feedback on the proposed key\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bca-recognises-new-accreditation-schemes-for-managing-agents\/","url_meta":{"origin":44794,"position":1},"title":"BCA recognises new accreditation schemes for managing agents","date":"June 24, 2021","format":false,"excerpt":"\r The Association of Property and Facility Managers (APFM), as well as the Association of Strata Managers (ASM) accreditation schemes have been recognised by BCA in a bid to raise the industry standards of managing agents.\u00a0\u00a0 In a bid to help the industry raise the standards of managing agents (MAs)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/06\/Singapore-condo.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":43121,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-increase-in-complaints-against-strata-management-bodies\/","url_meta":{"origin":44794,"position":2},"title":"No increase in complaints against strata management bodies","date":"February 7, 2017","format":false,"excerpt":"\r The BCA receives around 30 complaints per year regarding the services rendered by managing agents of MCSTs. Singapore\u2019s Building and Construction Authority (BCA) typically receives 30 complaints or feedback per year regarding the services rendered by managing agents of Management Corporation Strata Title (MCSTs). \u201cThis number has been consistent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62551,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amendments-to-building-maintenance-and-strata-management-act-tabled-in-parliament\/","url_meta":{"origin":44794,"position":3},"title":"Amendments to Building Maintenance and Strata Management Act tabled in Parliament","date":"August 2, 2017","format":false,"excerpt":"\r \u00a0 In a bid to improve transparency and governance in the running of strata-titled developments, a total of 33 amendments to the city-state\u2019s Building Maintenance and Strata Management Act were tabled in Parliament, and if passed \u2013 will mark the first revision to the law since its introduction in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121918,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/condo-managing-agent-apologises-for-discriminatory-security-tender-document\/","url_meta":{"origin":44794,"position":4},"title":"Condo managing agent apologises for 'discriminatory' security tender document","date":"September 9, 2021","format":false,"excerpt":"\r SAS has\u00a0raised the issue with the Ministry of Manpower, and Savills Property Management has removed the clause and will\u00a0review the terms and conditions. After being called out for discriminatory clauses in its tender document for security services, the managing agent of Hillview Heights condominium has apologised for the \u201cconfusion\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/60505816_s.jpg?fit=847%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":25551,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/maids-still-cant-use-the-pools-other-condo-facilities\/","url_meta":{"origin":44794,"position":5},"title":"Maids still can\u2019t use the pools, other condo facilities","date":"September 9, 2016","format":false,"excerpt":"\r Some people argue that the rules are not practical, especially when the employer\u2019s children use the swimming pool. (Photo: Getty Images) Some condominiums in Singapore continue to enforce strict rules preventing domestic helpers from using the facilities, such as swimming pools and gymnasiums, as they are meant for homeowners\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/44794"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=44794"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/44794\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=44794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=44794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=44794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}