The Pros And Cons Of Staying In A Strata Landed Property
- There is a Management Corporation (MC) which oversees day-to-day management of the property
- Common areas are managed and maintained by the MC
- The property is gated and guarded, which provides a sense of security
- Residents get exclusive use of a variety of recreational and lifestyle facilities
- Some strata landed developments form part of a township, which means there are nearby amenities such as schools and commercial centres
- With effective management and maintenance, the property value is well-protected
- Statutory regulation under SMA 2013
- Disputes can be brought to a tribunal or civil court
- Maintenance fees are mandatory for every owner of each land parcel, and they cannot avoid paying for these fees
- You have to pay for maintenance fees for security purposes and the upkeep of the common facilities
- If some owners refuse to pay for their maintenance fees, common property may not be maintained properly due to a lack of funds
- When owners refuse to comply, the MC has to take legal action. Legal costs will have to be borne by the management funds
- Even if you don’t use the common facilities, you’ll still need to pay for the maintenance fees
- The management has the right to not allow renovations to the facade of the building or any space extensions
- Higher maintenance costs than non-landed strata developments due to larger development footprint and more manpower required
What Are The Differences Between Landed And Non-Landed Strata Schemes?
Landed and non-landed strata schemes DO share one thing in common.
For both, home owners must pay for the maintenance fees and sinking fund to contribute for the management and maintenance of the common property.
Here's a summary of all key differences between a landed and non-landed strata scheme:
Landed Strata Scheme
- The building is maintained by the owner, and this includes the roof, external walls, and facade
- Fire insurance coverage for the property is covered by the parcel owner
Non-Landed Strata Scheme
- The common property and building facade is maintained by the management, using funds from the maintenance fees collected and sinking fund accounts
- Fire insurance coverage for the building, including any individual parcels, is covered by the management
Now then, we have covered all the essentials of what you need to know regarding living in strata landed property!
As you can see, there are certain aspects of living in a strata landed property that differ from that of living in a non-landed strata property.
But if you still feel that this type of development is your cup of tea, then you'll be able to enjoy the best of both worlds: larger living spaces with condo-style facilities!