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# 155524
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Management Corporations in Malaysia

Author :  Michael J Willis

Product Details

Country
Malaysia
Publisher
Sweet & Maxwell Asia, Malaysia
ISBN 9789670498492
Format PaperBack
Language English
Year of Publication 2013
Bib. Info 226p.
Shipping Charges(USD)

Product Description

Buying into a strata development can hold a certain attraction for many property owners. Many strata property owners are attracted to the community-style living, cost sharing of facilities, the prospect of a pleasant lifestyle with shared recreational and community facilities and the likelihood of increased security. Strata property ownership and living however bring the responsibilities of self-management and shared decision-making through the management corporation which every strata property owner is a member of. The management corporation in turn holds funds on trust and administers significant financial assets on behalf of property owners. All management corporations have statutory duties and powers under Malaysia’s strata laws. These include legal responsibilities for matters such as financial management, management of common property, record keeping and meeting practice and procedures. Thus, some knowledge by owners and relevant others of the laws, rules/regulations and by-laws which affect the management of a strata property is not only essential but financially prudent. The only way to ensure that a management corporation delivers no surprises is for owners to be at least aware of their obligations and entitlements. Owners must be engaged to ensure that their investment, lifestyle and financial well-being are protected and enhanced when living in this form of housing. This book gives owners the tools to do that. It expresses in as plain a language as possible the meaning of the key provisions of the new Strata Management Act 2013. Drawing on his experience as an owner-occupier of a condominium apartment in Kuala Lumpur and his first-hand knowledge of strata living in Malaysia, the author has prepared a thoroughly readable text on the legal provisions which impact on management corporations This book will greatly benefit strata property owners as well as professional, industry and consumer associations, the broader real estate industry including valuers, building surveyors and developers, and state and federal land office/department officials.

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