Waterfront Key Mcst
Latisha Gervase
Waves On The Waterfront
Waterfront Waves is designed to merge as one with the picturesque Bedok Reservoir and Park. With unprecedented proximity to the reservoir, you can look forward to commanding vistas of the shimmering waters from your home. This is truly a luxury many may desire, but only a few will ever own it.
Be Closer To The Waters Than Ever Before
Bond by the pristine waters of Bedok Reservoir. Savour the rich tapestry of lush greenery, cool breeze and stunning panorama. Now, it is your privilege to indulge in the exceptional opportunity where the waterfront lifestyle and the luxuries of the home meet.
Immerse In The Joys Of Life
Revel in a conducive environment to live and play. Have all the excitement of life by the waterfront right at your doorstep. Search no more for the perfect place where your kids can grow and build a wealth of delightful memories.
Excitement Flows Naturally Into Serenity
The calm waters of Bedok Reservoir are the perfect arena for a whole host of water sports and activities. Spend peaceful moments fishing by the pier. Explore the waters in a kayak or canoe. For a little more excitement, feel the rush of adrenaline that comes with wakeboarding, or take up an adventure course and experience hours of exhilarating fun. Brace your family for a lifestyle of pure action!
Like an emerald necklace around the reservoir, the verdant parklands are ideal for leisurely recreation. Rediscover the allure of nature with a bicycle ride around the park. Enjoy a leisurely picnic brunch amidst lush surroundings. Take in the bracing fresh air on your morning walks.
Shopping and entertainment choices abound. Take your pick from exciting malls like Century Square, Tampines Mall, and the upcoming mall at Bedok Central, or megastores like Ikea, Giant Hypermart or Courts. For greater weekend fun, cycle to East Coast Park via the newly completed Eastern Coastal Park Connector that links 6 parks in the east.
The AGM I attend, usually the Proposed budget and monthly contributions is approved before the election of the incoming council members. Is this logical, or should the elections be conducted before the proposed budget is discussed?
If the approved budget is unusually low, then any incoming council member will have a very hard time operating with a tight budget. This is a major deterent to be a council member. But if the elections are conducted as the first few items of the agenda, then the incoming council members will take on more "ownership" of the proposed budget debate. Isn't this more of a logical sequence?
Is the approved budget at MCST even binding in the first place? Not all quotations will be in before AGM and for many of them the final prices could be way higher few months down the road. Should the MC then call EOGMs for every single item where there is no choice but for the budget to be increased , failing which no security guards , no cleaners , etc. Of course not. Treat the budget approved as a guide and do not fear it being exceeded down the road as long as can justify increase at next AGM, if questioned.
Ts .....if u want to know more about mcst i suggest that you read up the act and you will know your rights as a SP. The mc also cannot do anything they want but they have to follow the guidelines stipulated in the act.
If Maintenance Funds run short, can take from Sinking Fund (if got enough) or call for EOGM to ask for lump sum deduction. If still do not want to approve if no more money to operate then stop cleaners, remove security guards and I bet they will approve any sum overnight.
First & Foremost, Building Maintenance & Strata Management Act is silent on the sequence of the Agenda Items. It is rather common for the Agenda on Contribution Rate for Management & Sinking Fund to be in the first few Items after review of the Audited Report for the last FY.
There is a basis to determine the contribution rate based on the forecast of contract sum (varies depending on requirements for various services), repairs & replacement for the forthcoming year. However, I must share that different group of SPs may share different opinions on the figure due to their own interest and most do not bother about the big picture.
In event that the Management Fund Contribution Rate approved is lower, it us deem as a deficit budget and any deficit in that FY will be funded out from the Accumulated Management Fund. You cannot utilise Fund from the Accumulated Sinking Fund.
In my opinion, it is important to ensure that the approved budget is sufficient to ensure proper upkeep & maintenance. Neglect in upkeep & maintenance can result in the development end up in a 'run-down' stage and eventually depreciation in property image & value.
A budget is a guideline. Along the way, there will be unexpected expenses. E.g falling tree branches, burst pipes, pool pumps failing prematurely, security company withdrawing and new tenders quote higher prices. The MCST using their collective skills will have to manage the incidents using resources and skills available within the MCST. Do not expect the Managing Agent to be of much help as the condo manager is usually inexperienced.
The most important part of the AGM is the previous year's expenses and what huge expenses are expected to be made this year E.g. lifts replacement or repainting. Then see if the Sinking Fund and Management Fund balance/excess/contributions can cover the expected spend. If NO, then increase in conservancy is logical. Do not veto increase, otherwise there will not be enough funds to maintain and the condo gets run down very quickly, losing its value and ability to find new owners.
Lastly, if you are a lawyer, engineer, architect, horticulturist, your skills will always help the MCST do a better job. Volunter to join the MCST. It is a thankless job, but if no one wants to do it, the MA will take easy way out and the estate will run out of funds or be badly maintained.
I stayed in a mixed development and 90% of the council members are from the commercial side....every year AGM, the group nominate and second each others and prevent other from joining as council members. How to break them up?
2. At AGM, when chairman suggests number of seats in the next council (usually odd number), speak out that the composition of the Coincil should reflect same mix of the estate based on shared value. Usually the residential share-value will outnumber the commercial share-value. But it is hard to get residential SP to join Council, so unless more step forward, the commercial side will dominate MCST.
3. If there are more nominations than seats, a vote will be called. Candidates with most votes get into the Council. Use your own and additional nominated voting rights to vote for non-commercial SPs willing to stand, so that they get more votes and a place in MCST
The professional ones.. business owners, lawyers, accountants, will not volunteer their expertise because it seems like this is a worthless cause, and they have better things to do than to debate with clueless people.
The MA will usually proposed a balanced budget, but somehow.. the buffer will always get removed, till even the minimum balance in bank account also not covered. end up start owing cleaners, SP service, pool contractor, once every three months. If any SP pays late.. the situation even more dire.
Even when told there is a requirement to paint every 5 years, and the sinking fund have to slowly build up to fund the cyclical maintenance, the sinking fund was voted to its minimum, with the rationale.. when the time comes.. then call for special levy.
Those condos where mostly tenanted or bought for investment, the owners will vote down any spending or conservancy increases. To maximise their rental profits while waiting for capital appreciation, to sell their unit.
The progressive wage model for guards and gardeners are examples where costs will increase year by year. If conservancy is not increased, be prepared for security lapses and plants dying. If the condo is mainly tenanted, the owners don't care about these things or even form a Council. The condo quickly falls into disrepair. The owner-occupiers will move out due to bad behaviour of tenants and deterioriating environment.
I have witnessed where a hefty increase in monthly maintenance fees of $120 a month is approved without even a single dissenting vote in a Dist 11 condo (50% of units leased out) and yet in a suburban condo an hour is spent arguing over $8 a month increase with motion not being passed in the end. Depends very much on the quality of residents staying in that condo which correlates to the location/value of the condo.
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