Property Management Companies are set up mainly to provide a forum for all owners to be represented equally and to hold title to the common areas of the development be it apartment block or housing estate.
On this topic, here is an article that has recently appeared in 'Accounting Matters'...
"Property Owner Management Companies are companies set up to hold title to common areas of apartments and housing estates. The company pays for maintenance etc. and bills this to the residents as an annual service charge. It is usual for the title to the land to vest with the developer until they have finished the development and then transfer once the development is complete. It has now become common for builders to delay transfer of the common land sometimes in the hope of further developing the land or sometimes just by oversight. This does not preclude the Property Owner Management Companies charging residents their annual service charge although it is likely that an auditor will put in an emphases of matter paragraph in their audit report drawing attention to the non transfer. Not owning the grass does not mean that you can't mow it and you certainly have an insurable interest in maintaining the property you may not technically own.
However, it is very common for the property transfer agreements to state that the builder is responsible for maintenance until the common area is transferred. For some reason this seems to have been ignored in most developments. An auditor would be minded to check the transfer agreements as there may be no basis for charging the annual service charge where the builder has held on to title to the common area and this standard clause is in the transfer agreement."
While the author of this article may note that "there may be no basis for charging the annual service charge" the reality is that if the owners do not pay service charges to maintain the common areas the chances are the the builders will not pay it and this will lead to a long dispute all the while the development is deteriorating and the value of the properties within are affected negatively.
Delicious
Digg
Facebook
StumbleUpon
Fri, 04/12/2024 - 06:23
"Our carefully curated roses are more than just a delivery; they're an experience of beauty and joy, wrapped in elegance."flower delivery abu dhabi
»
Fri, 04/12/2024 - 06:22
"Our carefully curated roses are more than just a delivery; they're an experience of beauty and joy, wrapped in elegance."bouquet delivery dubai
»
Fri, 04/12/2024 - 05:50
Geweldige informatie! Ik heb onlangs uw online dagboek doorgenomen en heb het doorgenomen. Ik dacht dat ik mijn eerste opmerking zou achterlaten. Ik weet niet wat ik moet zeggen, behalve dat ik dat wel heb gedaan. Iptv nederland
»
Fri, 04/12/2024 - 04:37
Love to read it,Waiting For More new Update and I Already Read your Recent Post its Great Thanks. mp3 juice
»
Thu, 04/11/2024 - 17:59
10 Blanton's miniature bourbon 50ml shot bundle, this bourbon only became available on the commercial market in 1984 after almost 50 years in existence. blanton's mini
»
Thu, 04/11/2024 - 17:50
Licensed money lenders in Singapore adhere to strict regulations set by the government, ensuring that you are protected from unfair practices and exorbitant interest rates. best licensed money lenders singapore
»
Thu, 04/11/2024 - 17:32
Your willingness to share your knowledge and experiences is a gift. Thank you for being so open and helpful – it's made a big difference to me.
vozačka dozvola
Führerschein
Führerschein
rijbewijs
carteira de motorista
»
Thu, 04/11/2024 - 17:31
I couldn’t agree more with the insightful points you’ve articulated in this article. Your profound knowledge on the subject is evident, and your unique perspective adds an invaluable dimension to the discourse. This is a must-read for anyone interested in this topic.
»
Thu, 04/11/2024 - 17:07
1win promo code "DOR777" gives you the right to participate in exclusive bonus 500% up to $1025, with an opportunity to win valuable gifts. If you aim at increasing your capital, don’t miss out on a chance to use profitable offers. Apply it upon register for better rewards in the future. It is one of our unique bonus codes that people can avail themselves of and get a welcome promotion. Some online casinos have a complicated procedure you have to complete to apply the coupon, but as you will see, 1win is different.
promo code for 1win
»
Thu, 04/11/2024 - 16:53
An amazing content, will love to come back and read more. Keep up
permiso
kaufen 1
kopa
prawo
kopen
permis 2
kaufen 3
prawo 3
prawo 4
prawo 11
prawo 12
prawo 13
»
Thu, 04/11/2024 - 15:20
Customer Reviews: Check online reviews to gauge the reputation and reliability of the rental company. best van rental company singapore
»
Thu, 04/11/2024 - 13:46
After careful consideration and extensive research, one plastic surgery clinic stands out as the best in Singapore - XYZ Plastic Surgery Clinic. renowned plastic surgery clinic in singapore
»
Thu, 04/11/2024 - 12:53
Credentials and Training: Look for a surgeon with extensive experience and specialized training in cardiac surgery. best heart surgeon in singapore
»
Thu, 04/11/2024 - 11:33
When it comes to something as important as your divorce, don't settle for anything less than the best. Contact the best divorce lawyer in Singapore today and let us help you navigate the complexities of the legal system with confidence and peace of mind. Leading divorce lawyers in Singapore
»
Thu, 04/11/2024 - 10:51
Embark on a journey of transformation with Boutique management training in Chennai at Chennai Fashion Institute. Develop a deep understanding of retail dynamics, market trends, and consumer behavior. Through interactive sessions and real-world projects, you'll hone your skills and emerge as a proficient boutique manager. Join us and turn your passion for fashion into a lucrative career opportunity.
»
Thu, 04/11/2024 - 09:49
By visiting Singapore's top review website, you can save yourself time and money by making informed decisions. Whether you're looking for the best hotel for your next vacation or the most effective skincare products, our reviews will help you navigate the crowded marketplace with ease. BestBuySingapore.com
»
Thu, 04/11/2024 - 07:40
Set clear expectations: Be transparent about your budget, timeline, and goals with your SEO consultant in Singapore. Make sure they understand your unique needs and are able to tailor their services to meet your specific requirements. Singapore SEO expert
»
Thu, 04/11/2024 - 06:51
Thanks for a very interesting blog. What else may I get that kind of info written in such a perfect approach? I’ve a undertaking that I am simply now operating on, and I have been at the look out for such info. ae888.top
»
Thu, 04/11/2024 - 05:38
Customer Support: Philips provides excellent customer support to assist you with any questions or issues regarding your digital lock. phillips digital smart lock Singapore
»
Wed, 04/10/2024 - 18:35
1win promo code "DOR777" gives you the right to participate in exclusive bonus 500% up to $1025, with an opportunity to win valuable gifts. If you aim at increasing your capital, don’t miss out on a chance to use profitable offers. Apply it upon register for better rewards in the future. It is one of our unique bonus codes that people can avail themselves of and get a welcome promotion. Some online casinos have a complicated procedure you have to complete to apply the coupon, but as you will see, 1win is different.
bonus code for 1win
»
Wed, 04/10/2024 - 18:22
1win promo code "DOR777" gives you the right to participate in exclusive bonus 500% up to $1025, with an opportunity to win valuable gifts. If you aim at increasing your capital, don’t miss out on a chance to use profitable offers. Apply it upon register for better rewards in the future. It is one of our unique bonus codes that people can avail themselves of and get a welcome promotion. Some online casinos have a complicated procedure you have to complete to apply the coupon, but as you will see, 1win is different.
bonus code for 1win
»
Wed, 04/10/2024 - 18:14
Keyless Entry Say goodbye to the hassle of fumbling for keys in your bag or pockets. Digital locks offer keyless entry, making it quick and easy to unlock your door with just a simple touch or scan. This is especially convenient for those times when you have your hands full or need to enter your home quickly. digital door
»
Wed, 04/10/2024 - 17:10
What Sets Our PR Application Agency Apart! Our PR application agency stands out from the rest due to our extensive experience in the industry. With years of expertise under our belt, we have helped numerous clients achieve their PR goals and objectives successfully. singapore pr requirements
»
Wed, 04/10/2024 - 17:09
What Sets Our PR Application Agency Apart! Our PR application agency stands out from the rest due to our extensive experience in the industry. With years of expertise under our belt, we have helped numerous clients achieve their PR goals and objectives successfully.
»
Wed, 04/10/2024 - 13:37
Proof of Income: Recent payslips or tax assessments. how to become singapore pr
»
Wed, 04/10/2024 - 11:42
A cooperative society is a part-possessed association that works on cooperative standards to meet normal financial social and social requirements. These social orders exist in different areas like agribusiness, money, lodging and purchaser products, encouraging popularity-based administration, evenhanded appropriation of advantages and local area improvement through aggregate proprietorship and common collaboration.
»
Wed, 04/10/2024 - 11:19
Our team of professionals is dedicated to delivering results that exceed expectations, making us a trusted partner for all your PR needs. immigration specialist Singapore
»
Wed, 04/10/2024 - 10:35
Global Mobility: Singaporean passport holders have visa-free or visa-on-arrival access to many countries worldwide. applying citizenship Singapore
»
Wed, 04/10/2024 - 09:52
This particular papers fabulous, and My spouse and i enjoy each of the perform that you have placed into this. I’m sure that you will be making a really useful place. I has been additionally pleased. Good perform! Sapa trip
»
Wed, 04/10/2024 - 09:31
Thank you for the update, very nice site.. qqslot88 login
»
Wed, 04/10/2024 - 07:49
온라인 카지노 커뮤니티 온카허브 입니다. 온카허브는 카지노 먹튀 사이트들과 안전한 카지노 사이트 정보를 공유하고 있습니다. 카지노 먹튀검증 전문팀을 자체적으로 운영함으로써 철저한 검증을 진행하고 있습니다
https://oncahub24.io/
»
Wed, 04/10/2024 - 05:17
This film acts as a barrier, absorbing impacts from rocks, gravel, bugs, and other debris that can cause scratches and chips in the paint. paint protection film PPF Singapore
»
Wed, 04/10/2024 - 02:08
sangat indah sekali untuk dibaca artikel ini ya ampun
»
Tue, 04/09/2024 - 20:22
This is a smart blog. I mean it. You have so much knowledge about this issue, and so much passion. You also know how to make people rally behind it, obviously from the responses. https://1xbet-egypt.site/all-you-need-to-know-about-the-1xbet-mobile-app-in-egypt/
»
Tue, 04/09/2024 - 20:21
It is fine, legitimizing turn the information and strong obsessions around this right.
https://1xbet-egypt.site/1xbet-log-in-egypt-and-make-your-experience-smoother-and-fun/
»
Tue, 04/09/2024 - 20:19
Understanding something of everything and every little thing of one thing.https://1xbet-egypt.site/learn-about-the-1xbet-bonus-rules-in-egypt/
»
Tue, 04/09/2024 - 20:17
You make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers.
https://1xbet-egypt.site/promo-code-1xbet-in-egypt-all-you-need-to-know/
»
Tue, 04/09/2024 - 20:16
This is what commonly happens to the newbies in the business industry who do not know how to effectively market their product or service or service.https://1xbet-egypt.site/tips-to-guide-you-to-predict-1xbet-in-egypt/
»
Tue, 04/09/2024 - 20:14
Hey there! Good stuff, do keep us posted when you finally post something like that!
https://1xbet-egypt.site/how-to-register-on-1xbet-website/
»
Tue, 04/09/2024 - 18:44
ceramic coating is a fantastic investment for car owners looking to protect and enhance the appearance of their vehicles. With its long-lasting protection, easy maintenance, and resistance to environmental damage, ceramic coating offers a range of benefits that make it a popular choice among car enthusiasts in Singapore. ceramic coating
»
Tue, 04/09/2024 - 17:33
I just could not depart your website prior to suggesting that I actually enjoyed the usual information an individual supply for your visitors? Is going to be back steadily to check out new posts. space burst strain
»
Tue, 04/09/2024 - 17:23
the Illuminati is an Elite organization of wealthy, knowledgeable, powerful, prestigious, world leaders, political leaders, artist, innovators and business authorities that operate above geographical and political restrictions to further the prosperity of the human species as a whole. While Our daily operations remains confidential for the safety of our members, we strive to create a better understanding between us and the people we have been entrusted to protect. How to become part of Illuminati
»
Tue, 04/09/2024 - 17:18
the Illuminati is an Elite organization of wealthy, knowledgeable, powerful, prestigious, world leaders, political leaders, artist, innovators and business authorities that operate above geographical and political restrictions to further the prosperity of the human species as a whole. While Our daily operations remains confidential for the safety of our members, we strive to create a better understanding between us and the people we have been entrusted to protect. How to become part of Illuminati
»
Tue, 04/09/2024 - 11:42
At Serangoon Vet Clinic, every pet is treated with the utmost care and respect, just like they're part of the family. vet clinic Singapore
»
Tue, 04/09/2024 - 11:29
What a fantabulous post this has been. Never seen this kind of useful post. I am grateful to you and expect more number of posts like these. Thank you very much. Ajaib88
»
Tue, 04/09/2024 - 10:44
Thanks so much for sharing this awesome info! I am looking forward to see more postsby you! slort maxwin gampang gacor
»
Tue, 04/09/2024 - 10:09
온라인카지노
As I website owner I think the subject material here is real wonderful, appreciate it for your efforts.
»
Tue, 04/09/2024 - 09:14
Interesting post. I Have Been wondering about this issue, so thanks for posting. Pretty cool post.It 's really very nice and Useful post.Thanks 188.166.232.208
»
Tue, 04/09/2024 - 09:01
Aku seneng info terkenal sing diwenehake ing artikel sampeyan. Aku bakal menehi bookmark blog lan asring mriksa maneh ing kene. 메이저 토토사이트
»
Tue, 04/09/2024 - 08:52
An intriguing discussion might be priced at comment. I do think you should write much more about this topic, it will not often be a taboo subject but generally folks are insufficient to speak on such topics. To another. Cheers Polkadot Candy
»
Post new comment